3 Reasons for Personal Loans

Whether you are dealing with the burden of credit card debt or are preparing for a large expense, a personal loan could be an option. Here are a few benefits of obtaining a personal loan:

1. Comfortably Financing Life Circumstances

Personal loans allow you to use the funds for a variety of reasons. From a once-in-a-lifetime vacation to unexpected medical bills to simply having extra funds available, personal loans allow you to borrow the money to do so. Typically ranging from $1,000 to $100,000, borrowers have the opportunity to finance what they need. A personal loan isn’t just about money. It’s about funding your dreams and empowering you to responsibly make decisions that can be in your family’s best interest.

2. Consolidating Your Debt

Managing debt on a day-to-day basis can be an uphill battle. If you are looking to begin the process of getting your debt under control, but are struggling with it being spread out in multiple areas, a personal loan could be the right path for you to simplify the process. Debt consolidation is a type of personal loan that combines debts you have accumulated over time into one payment. If you decide to take out a loan for debt consolidation, you can figure out how much you need by summing up what you need to borrow to pay off your outstanding debt.

3. Financing Unexpected Bills

On many occasions, we see members borrow money to pay off a medical bill or bills that have a due date. Instead of missing deadlines with institutions you owe money to (thus incurring extra fees and interest), a personal loan could allow you to pay off the sum with flexible terms. The interest rate on a personal loan depends on several factors, such as your credit score and credit history, along with the amount owed and payback period. However, Camino Federal Credit Union is here to simplify the process for you. With flexible terms, we want to help provide a solution to ease your financial stress.

Offering Personalized Attention from People who Care

How can Camino Federal Credit Union help you thrive? Your unique needs require a unique approach to lending. We’re able to offer our members flexible loan terms at competitive rates. We invite you to become a member so we can work together to achieve your financial goals.

We invite you to explore the plethora of benefits you are eligible for by becoming a member. Give us a call at 800-835-3400 to speak with one of our Member Advisors, or visit us online at caminofcu.org for more information.

We are here to help you on your financial journey.