Loans at Education First Credit Union

Education First Credit Union provides loans every month to members just like you. Our members finance automobiles, boats, recreational vehicles and more. We also offers a wide variety of signature products, a competitive credit card program, business loans and a complete line of home loans. Our loan interest rates are reviewed frequently to ensure that they are competitively priced. Let Education First Credit Union provide you with financing for your needs!

Online Payments and Account Funding Is Available – Click Here For Details!

Apply Now! or View Current Loan Rates

Secured and Personal Loans

When borrowing money, you need to understand all your options. You will find that there are many different loans available. Each one is designed for a specific purpose. You’ll want to make sure that the loan you’re applying for is the one that best matches your specific needs. We will ask you some questions so that we can make the appropriate recommendations to serve your financial best interests.

When shopping for a loan, you’ll hear the terms Secured and Personal. What do they mean? Which one should you ask for? Which type is best for you? All of these are good questions which, we will explain.

Secured Loans

A secured loan is usually requested when you are borrowing money to fund a large purchase. A secured loan is contingent upon the borrower providing “collateral” to secure and ensure repayment. For example, a typical secured loan is to purchase a car, or a house. In the case of a car loan, you are using the auto as your collateral for the loan, or if you are buying a boat or a camper, those items are the collateral used to secure the loan. Secured loans are generally offered at lower rates, with flexible and longer repayment terms.

Examples of Secured Loans:

• Auto Loan (New, Used and Refinanced)
• Home Equity Loan (these have a set loan amount for a specific term or repayment)
• Home Equity Line of Credit (these have a maximum credit limit with varying repayment terms)
• Boat Loan
• Recreational Vehicle Loan
• Home Improvement Loan

Personal Loans

When you apply for a Personal loan, we have to rely on your personal credit history and credit strength in making our decision. Can you repay the loan and your other obligations with your current financial resources? Does the loan request make sense, and does it help improve your financial position? These are all considerations.

Additionally, Personal loans are usually offered at higher interest rates than secured loans, and for lower amounts and for shorter terms for repayment. Depending on the purpose for the loan, a Personal loan may be the best choice for you. Working together and discussing your needs will help us to make the right recommendation, to serve your financial best interests.

Examples of Personal Loans:

• Personal Loans
• Personal Lines of Credit
• Credit Cards
• Some Home Improvement Loans
• Private Student Loans

We are committed to helping you save money and enjoy some financial peace of mind. We will work smart to find the very best options to meet your needs. Please call for an appointment or stop by our branches and we will be glad to assist you. That’s why we are here…to serve the financial needs of our members. Please let us help you, TODAY.

Loan Specials

Finance Your Next Vehicle With Us!
Rates as low as 6.24% APR* for new or used vehicles. Terms of up to 66 months. Loan pre-approval and refinancing available.

*Annual Percentage Rate. Offer subject to credit approval. Rate subject to change without advance notice. Rate Effective December 1, 2022.
Apply For Financing Now!

Private Student Loans
When you receive your award letter from your college of choice, you’ll see a couple of important numbers listed – the estimated cost of attendance (COA) and any financial aid for which you are eligible, such as scholarships, grants, and federal loans/work study.

Many students will need more funding than what is included in their financial aid package to cover the balance, which is where private student loans come in.

Great news – a private student loan like our education line of credit can be used for any items listed in your cost of attendance or other education-related expenses! The amount you are eligible to borrow will be certified by your school, and the funds will be sent directly to your college.

Visit our student loan resource center for more information or to apply for an Education First Credit Union Private Student Loan. Resource Center

Payment Protection

Life happens to all of us. If we are lucky, things go along smoothly each day just as we planned, but sometimes that isn’t the case. You work hard to pay your bills and manage your credit responsibly, then something entirely unexpected happens, and you become sick or injured, and your life is suddenly in turmoil. To help ease the financial burden of your loan obligation in the event of an unexpected life event, injury or illness, we offer optional Credit Life and Disability insurance.

Credit Life insurance is designed to help reduce or pay off your eligible loan balance, up to the policy maximum, should an unexpected life event occur. Credit Disability insurance may help you make your loan payment, up to the policy maximum, if you become totally disabled due to a covered injury or illness. Benefits include:

• Helps protect you from the unexpected
• Coverage starts on the enrollment date
• Premium can be included in your loan payment

We will offer this payment protection coverage on all eligible loans you originate with our credit union. We will make certain that you completely understand your options so you can make the best and most informed decision to protect you and your family.

Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms. CDCL-1537579.1-0616-0718                                                                      

Online Loan Payments & Account Funding Is Available!

Online Payments & Deposits are conveniently available for you through our website, a smart phone and even text messaging!

Make Your Education First Credit Union loan payment or fund your account ONLINE with any debit card, or checking account.

• Use a debit card, or checking account number from another financial institution to make your Education First loan payment or to make a deposit into your Education First account.
• You can make a one-time payment or schedule regular payments
• There is a convenience fee for using this service. Using a Debit Card or Checking Account Number has a convenience fee of $4.95 per transaction.

Payment Examples: If you are making a loan payment in the amount of $250.00 using a debit card or checking account number, your transaction amount will be $254.95.

To Make a Payment or Deposit Click Here!

If you have any questions about this service, please contact Education First Credit Union. Other fees and/or restrictions may apply.

Home Loans Are Available From Education First Credit Union

Education First Credit Union Offers A Variety of First & Second Mortgage Options – for more information please click here.