We know your financial situation is unique – just like you. A SunWest personal loan gives you complete control over your story.
Personal Loans can be a great way to pay for large expenses such as vehicle repairs, a root canal, a dream wedding, or that vacation you’ve been planning since you got your first paycheck. Personal loans can also be used to consolidate debt and get rid of credit cards with ridiculous interest rates. Generally speaking, this specific loan type can often be difficult for people to obtain due to the fact that it is unsecured debt, which puts more risk on the lender. As a credit union, we look at an individual’s life story, not just what their last bank statement says.
Let’s start our relationship off with a little tender love and care. Ask your Branch Representative to walk you through your credit report to see how a SunWest Personal Loan can benefit you.
Lower than most credit cards, a SunWest Personal Loan also gives you a fixed interest rate throughout the term of the loan. APR* rate discount promotions throughout the year for current members. Check out our Promotions page to see if we are offering an interest rate discount for current SunWest members.
Terms starting from 6 months, all the way to 60 months. Have your Branch Representative review payment options based on the different terms, so you can decide what works best for your personal plan. Shorter terms mean a higher monthly payment, but you’ll end up paying less interest. Longer terms give you wiggle room in your monthly budget which can come in handy during those times you’re stretched thin. You’ll pay more in interest, but you can also choose to pay extra on those months you’re able, paying the loan off early and saving on interest charges.
These loans are unsecured, which means you don’t have to secure it with your house or car. As a result, there is typically less paperwork and quicker availability of funds.
No score requirement. Some financial institutions require you to be at a certain credit score in order to qualify for an unsecured loan. At SunWest, we look at your story to see if the loan is a good fit. Don’t fear applying because you think you may have bad credit or a low credit score. Apply today and let’s take a look together.
Ever find yourself a little over-extended? It happens to the best of us. There are just some things that get away from us and some things that come up unexpectedly to throw us off balance. Think about it this way–you’re riding your bike down a road that has potholes and loose gravel everywhere, with the asphalt melting in our Arizona sun. You could have Lance Armstrong-level bike skills and still hit one of these obstacles, slowing your progress and even bucking you off that bike.
A SunWest Personal Line of Credit is like having top-of-the-line protective gear that helps you avoid major road rash and financial injury.
One of the most common uses for a Line of Credit is as Overdraft Protection for your Checking. This can be a lifesaver for those that don’t check their account balance every day – not that we would suggest that. You should ALWAYS know your available balances. However…we live in a fast-paced world where it’s easy to be tied up for a day or two on so many projects that looking at your account balances isn’t always at the forefront. With a Line of Credit on your account, you can avoid the overdraft fee and breathe easier knowing your finances are still in good shape. Pay your balance off right away, or give yourself some time to bounce back by simply making your minimum monthly payment. A SunWest Line of Credit allows you some flexibility in your financial plan and helps you prepare even for those moments you can’t always see coming.
Variable APR rates. Currently at 15.50%, our Line of Credit rate is lower than most big banking credit cards, giving you safe and responsible credit options.
Revolving, open-ended credit. Much like a credit card, a Line of Credit gives you a fixed spending limit that gets replenished as you pay down the balance. When you need to use your line, visit your online account and transfer the funds to your Checking account. It can also be set up to automatically cover your Checking when you go over your available limit, saving you the headache of overdraft fees.
Just like you, each personal loan is unique, and we may request verification documents such as statements for accounts you want to pay off, or an invoice for large purchases and contracted work. However, this type of loan doesn’t require a lien on any of your property like secured loans do.
Don’t let the unexpected knock you off your path to financial wellness. Apply today for a Personal Line of Credit to secure your back-up plan and keep pedaling towards financial freedom.
*APR = Annual Percentage Rate. On approved credit. Certain terms, restrictions and conditions apply. Approval based on, but not limited to, an evaluation of applicant credit. Rate subject to change without notice. Offer does not apply to existing loans financed through SunWest Federal Credit Union. Loan cannot be used for post-secondary education. SunWest reserves the right to modify or discontinue this promotion at any time. Contact us at 602.866.1100 for more details.