Personal Loans

First Pioneers Federal Credit Union is here for you whenever you need money for a special purpose. Personal or signature loans that can be used to pay off school expenses, pay out revolving accounts, or take a special vacation. Credit qualified members can borrow up to $25,000 for up to 60 months.

Credit scores will be a primary factor in determining eligibility, rates, and amount borrowed. Once approved, we can generally process it within 24 hours. Call us today or apply online.

Share/CD Secured Loans

Signature Loans

Open Line of Credit Loans

Overdraft Protection Loans

Here are some other types of loans that we make for our qualifying members.

SHARE OR CERTIFICATE SECURED

With these loans, you are borrowing “your own money." You want a sum of money, but you don’t want to touch your savings. So you pledge the money you have saved and we make you a loan with that savings as collateral. You only pay 2.5% APY** above the current rate of the savings being pledged.

This is an outstanding way for a member to establish their credit rating for the first time. It is also a way for a member to reestablish a credit rating that has had problems in the past. Members can use their own funds as pledges or those of any other member, as long as that member authorizes it.

OTHER COLLATERALIZED LOANS

The credit union will make loans on items of personal property. Boats/motors, jet skis, three wheelers, four wheelers, and tractors are examples.

Loans & Applications

Interested in a loan? You’ve come to the right place.

Building or repairing credit can be hard to do. First Pioneers offers credit builder loans to help you establish or repair credit.

The credit builder loan is $1,000 in total. $750 will be held in a savings (share) account. The borrower has the option to take the remaining $250 in cash or use it for a shared secure credit card.

Structuring the credit builder with the credit card option provides the borrower with 2 credit trade lines on their credit report, an installment loan and a credit card. Lenders like to see a mix of credit types on a credit report. Having multiple trade lines is beneficial in demonstrating the ability to manage different kinds of credit. Therefore, this diversity in the borrower’s credit can help improve their score.

Borrowers can increase the limit on the credit card by adding to the secured amount. Borrowers must be 18 years of age or older. Credit criteria must be met for approval.