| If you're thinking about debt consolidation, it
probably means that you are paying off many different creditors at
the end of each month. When thinking about consolidation,
carefully consider your options. Don't get trapped by offers that
promise to lower your monthly payment with high interest. You've
just defeated the purpose! The goal in consolidation is to reduce
your overall debt by lowering your interest rates.
A UCU loan officer can help you decide what method of
consolidation is best for you. University Credit Union offers
different loan products to fit different consolidation needs.
Home Equity Solution
If you are a homeowner, a
home loan might be right for
you. Consider the Credit Union's variable rate Home Equity Line of Credit
or fixed rate Home Equity Loan. There are no
prepayment penalties, no annual fees and no closing costs*.
HELOC payments are as low as 1% of the outstanding balance or $100,
whichever is greater. Home Equity Loan payments are
determined by the length of the term chosen.
* Initial disbursement/loan
amount of $10,000 is required.
Low Rate Credit Card Solution
If you are paying off several high credit cards, you best
option is to rollover the balances on the lowest rate card
available. UCU's VISA Select Rewards Credit Card offers a competitive
variable rate with valuable points to exclusive merchandise and
travel opportunities.
Personal Loan Solution
When consolidating different types of loans, a personal loan is
also an option to consider. Remember that you want to lower your
interest rates. UCU offers competitive rates on both our share
secured and unsecured personal loans with flexible repayment
options.
Helpful Links *
* By clicking these links you will be leaving
University Credit Union's web site. The links are meant for
entertainment and education and do not constitute an endorsement
of any kind. The Credit Union has no control over the content
offered by these sites. |
