PERSONAL LOANS
Fixed rates from 8.99% APR, with nothing pledged as collateral
Borrow $2,500 to $50,000 on a fixed rate and a fixed term, so the payment is the same in month one and month sixty. No car title, no lien on your house, no annual fee.
Real uses
What members actually borrow this for
These six account for most of the personal loans we wrote last year.
Consolidating credit cards
The most common reason by a wide margin. One fixed payment at 10.49% APR replaces three revolving balances priced in the twenties.
A repair that cannot wait
Furnaces, water heaters and roofs do not schedule themselves. If you have no equity to borrow against, this is the fastest fixed-rate money we have.
Medical and dental bills
Provider payment plans often carry deferred interest that lands all at once if you miss the window. A fixed loan does not have a trap door in it.
Moving and deposits
First month, last month, security deposit and a truck adds up before the first paycheck in the new town arrives. Short terms work well here.
A family emergency
Travel, funeral costs, helping a parent. We can fund the same business day once the loan is approved and signed.
Refinancing a bad loan
If you took an online loan at 29% during a hard stretch, bring us the payoff statement. Rewriting it at a credit union rate is worth an hour of your time.
Rates by term
Shorter term, lower rate. Every time.
Payments shown are for every $10,000 borrowed, so multiply by your amount.
Term
APR as low as
Payment per $10,000
Total interest per $10,000
12 to 24 months
8.99%
$456.80
$963
25 to 36 months
9.49%
$320.28
$1,530
37 to 48 months
10.49%
$255.99
$2,288
49 to 60 months
11.49%
$219.88
$3,193
Loan amounts from $2,500 to $50,000. Payment figures use the longest term in each band. Your rate depends on credit history, income and existing obligations, and every approved member is told which pricing tier they landed in. No origination fee and no prepayment penalty. Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Unsecured
What it means that there is no collateral
Nothing you own backs this loan. That is the whole reason the rate starts at 8.99% instead of 4.09%, and it changes what the application looks at.
Debt consolidation
The case for moving card balances
Say you carry $15,000 across three cards at an average of 22.90%. The interest alone is $286.25 a month. If your payment is anywhere near that, almost none of it is touching the balance, and the cards will still be there in five years with roughly the same number on them.
The same $15,000 as a Summit consolidation loan at 10.49% APR over 60 months is $322.33 a month. It is $36 more than what you were paying in pure interest, and the debt is gone in five years instead of never. That is the entire argument, and it only holds if you stop using the cards.
Approach
Rate
Monthly
Balance in 5 years
$15,000 on three credit cards
22.90%
$286.25 interest only
Still $15,000
$15,000 Summit consolidation loan
10.49%
$322.33
$0
Consolidation loans price at 10.49% APR for terms up to 60 months for qualified members. We will pay your other creditors directly if you would rather the money never touch your checking account.
Common questions
How fast can I get the money?
Most applications get a decision within a few hours during business days. Once you sign, funds move into your Summit checking the same day.
Will applying hurt my credit?
Checking your rate uses a soft inquiry that does not affect your score. Only a full application you choose to submit triggers a hard inquiry.
Can I pay it off early?
Any time, with no penalty. Interest accrues daily on the balance, so an extra $100 a month shortens the loan and reduces the interest you pay.
What credit score do I need?
There is no hard cutoff. We look at the whole file, including how long you have been at your job and whether you have been with the credit union. Members with thin credit should ask about our credit builder loan.
Should I use this instead of a home equity line?
If you own a home with equity, the line at 6.625% APR is cheaper. Choose the personal loan when you want a fixed payment, need the money this week, or would rather not put the house behind the debt.
Can I add a co-borrower?
Yes. A co-borrower's income and credit are both considered, which often moves the rate down a tier. Both of you are equally responsible for the loan.
Find out your rate before you decide
Two minutes and a soft credit check. If the number does not work for you, walk away with nothing lost.