Credit Unions are ranked near the top for the best places to apply for personal loans because of the low interest rate and fast approval process. Credit unions usually serve residents in the nearby counties and their criteria for joining are easy to fulfill. The following are the top 3 credit unions that offer personal loans to residents in Florida.
1. Suncoast Credit Union
Suncoast Credit Union was originally established by teachers from the Hillsborough County in Florida in 1934. It has more than 700,000 members in 21 counties in Florida. Suncoast Credit Union offers personal loans that can be used for financing all kinds of personal expenses such as holiday, debt consolidation and home renovation. Suncoast provides 3 types of personal loans including signature, computer, and personal line of credit.
Suncoast signature loan features a competitive interest that is as low as 10.25% and a maximum repayment period of 60 months. The computer personal loan is for people who want to borrow money to buy a new computer for work, study or personal use. The computer personal loan features a fixed APR interest rate starting from 9% and a maximum repayment period of 36 months. The personal line of credit is an unsecured loan that features a preset limit and the APR interest for this loan starts from 9.5%.
2. Vystar Credit Union
The Vystar Credit Union was founded more than 60 years ago in 1952 to provide loan services to civil and military members. It now serves 22 counties with a new Yulee branch opening on the 5th of June. Vystar Credit Union’s signature loan charges interest rates starting from 7.25% – 12.25% and the repayment period range from 1 -7 years. No collateral is required to apply for the signature loan. Vystar personal signature line of credit features a variable interest rate starting from 11.74% and a repayment term of up to 60 months. The interest rate is charged on the amount that you use from the line of credit. Both the signature and personal line of credit have fast approval process.
3. MidFlorida Credit Union
MidFlorida Credit Union was founded by a few teachers in Polk County in 1954. It started with 10 charter members and now it has over 271,000 members. MidFlorida Credit Union has 40 branches throughout Central Florida. MidFlorida Credit Union offers 4 types of personal loans including general purpose, secured, line of credit and payday alternative. The general purpose loan can be used for general purposes such as shopping, stocking a classroom, debt consolidation and other good purposes. The line of credit loan features interest rate as low as 11% while the closed end personal loans features an interest rate starting from 9.73% and a repayment term of up to 60 months.