UCF Federal Credit Union offers secured and unsecured personal (signature) loans!

Personal Line of Credit (PLOC)

Funds can be used for an array of purposes. And best of all, you don't have to complete a loan application each time you need to borrow. As payments are credited to this account, the applied amount to the principal is available for use. There are two types of Personal Lines of Credit. The PLOC-7's minimum payment requirements are based on 2.5% of the outstanding balance. The PLOC-29 has a fixed payment amount every month and minimum payment requirements are based on 3.0% of the maximum credit available, even though the entire line may not be in use.

Get immediate access to funds by transferring the funds into your account of choice or simply withdraw the funds using your ATM/debit card.

• Minimum line of credit amount: $500
• Maximum line of credit amount: $25,000
• Minimum withdrawal amount: $50
• Unlimited withdrawals per month
• Payment protection products are available at the member's request
• Monthly payment can be fixed or variable depending on type of loan

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Signature Loan

Get cash when you need it most with a Signature Loan. A Signature loan is an unsecured loan with a fixed monthly payment that allows you to borrow on the strength of your credit with no collateral. The opportunities are endless. Go on that vacation you always wanted to take or consolidate your bills. It's all up to you!

• Minimum line of credit amount $500
• Maximum line of credit amount $25,000
• Maximum term is up to 60 months, based on loan amount
• Payment protection products are available at the member's request

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Secured Loan

Flexibility meets financial security. A Secured Loan is secured by funds available in your Savings (Share), or Insured Money Market Account. Use the Share Secured loan to help build your credit and to avoid financial missteps.

• Funds stay on the share savings and earn dividends while being held as loan collateral
• Payment protection products are available at the member's request
• There must be sufficient funds in the share account to cover the loan
• Minimum loan amount $300
• Maximum loan amount is the amount of funds available in the share account, not to exceed $300,000
• Maximum term is up to 120 months, based on amount borrowed
• The annual percentage rate for the share secured loan will be determined by the repayment months.
  ◦1 - 36 months share rate + 3%
  ◦37 - 72 months share rate + 4%
  ◦73 - 120 months share rate + 5%

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Certificate Secured

Explore the advantages of a loan that is secured by funds available in your term share certificate. The opportunities for financial freedom are endless.

• Funds stay on the share certificate and earn dividends while being held as loan collateral.
• Payment protection products are available at the member's request.
• There must be sufficient funds in the share account to cover the loan.
• Minimum loan amount is $300.
• Maximum loan amount is 90% of the certificate, not to exceed $300,000.
• Maximum term is up to 120 months but cannot exceed the certificate's maturity date.
• The annual percentage rate is 3% above the dividend rate being earned on the term share certificate.

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