The Fastest Way to Fund Your Goals

Just about anything, including big purchases like vacations, home improvements, weddings, medical expenses, and more. Plus, they’re a great tool for consolidating high-interest debt!

Both a personal loan and line of credit can provide you equal parts financial support and flexibility. What makes one better than the other depends on what you intend to use the funds for. If you’re thinking of making a larger lump-sum purchase, then a personal loan is probably the way to go. If you’re in need of additional cushion for monthly expenses over an extended period of time, a personal line of credit is probably your best bet. To get a better idea of the advantages of each, check out our comparison chart.

Yes, loans are available even if you don’t have perfect credit, although you may not qualify for the lowest rate available. Learn more about your credit score, or request a free credit consultation so you can better understand your financial picture and look for opportunities to save.

With personal loans, you receive the money in one lump sum and make steady fixed payments over a certain amount of time, usually a couple of years. For this reason, personal loans are best for larger purchases that will take some time to pay off.

Credit cards offer a revolving line of credit that you can use and reuse. Since interest rates are usually higher on credit cards, they are best for smaller purchases that you can pay off quickly. Credit cards can also be a smart choice when consolidating debt. For example, UWCU cards offer 0% balance transfers.