Municipal Credit Union (NY) offering 2.99% Secured Personal Loan

Municipal Credit Union logoUsing a secured personal loan to finance some of life’s major purchases has its advantages over traditional, non-collateral financing. For individuals who have an amount accumulated within a savings or money market account, some financial institutions allow you pledge that account as collateral for a low-cost, fixed term personal loan. The bank or credit union is able to offer a lower cost for this type of financing because the total loan amount is secured by other assets, reducing the financial institution’s risk of default. It is beneficial to borrowers because funds can be used for a vast number of financing needs, including debt consolidation or a new vehicle purchase. This lending strategy is also helpful for those who have less than perfect credit, or a short credit history.

Currently, Municipal Credit Union is offerings its members a promotion on secured personal loans, starting with a fixed interest rate of 2.99%. For new loans, members of Municipal Credit Union can borrow a minimum of $2,000 for a term up to 60 months, with no maximum borrowing limit. The introductory rate is only available through April 15, 2015, however, and an application is required. Repayment terms that extend past 60 months are also available, albeit at a higher fixed rate.

To qualify for the promotional secured personal loan through Municipal Credit Union, you must first be a member of the financial institution. The following criteria can be used to determine if you are eligible for membership with Municipal Credit Union:

Personal Loans up to $35,000 at

Get a Personal Loan up to $35,000

  • Choose from peer-to-peer loans, installment loans, and traditional bank loans
  • Simple and secure online loans from a vast network of trusted lenders
  • Use for a vacation, to pay off medical expenses, debt consolidation or something else
  • Get approved within minutes and receive next-day funding
  • An employee of the City of New York
  • A federal or state employee who works in the five boroughs
  • Any student enrolled in the CUNY education system
  • An employee of a hospital, nursing home or health facility in New York State
  • Employees of a private college located in New York City, or a public or private college located in Nassau, Suffolk or Westchester County
  • Any family member of the aforementioned

Established in 1916, Municipal Credit Union has consistently provided low-cost, quality banking services to residents of New York City and its surrounding suburbs. The credit union operates 16 full service branch locations in and around the city, serves over 350,000 members and manages over $2 billion in deposit assets.

For additional information on Municipal Credit Union and its promotional secured personal loan offer, individuals can visit any of its 16 branch locations or can visit its website.

Posted on April 13, 2015 by in Personal Loans,

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