Personal Loans
- Secured & unsecured loans
- Credit building loan options
- Special seasonal loans
Use personal loans for almost any purpose: debt consolidation, vacation expenses, home improvement, and more!
We work hard to make your credit union the best place to borrow, no matter what your needs are:
Signature Loans
Based on factors such as your income, current debts and credit history, you could qualify for loans secured only by your signature.
Shared Secured Loans
Get the cash you need without depleting your savings. Borrow up to the balance in your Prime Share or Preferred Savings account at a low interest rate tied to your dividend rate and your shares will be used to secure the loan. Choose a repayment term of up to 15 years!
Credit Builder Loans
The secret to healthy credit is timely payments. Now you can build your credit and pay yourself in the process. We call it the Credit Builder Loan.
Once your application is approved‚ we’ll deposit up to $5‚000 into your share account and pledge it against the loan. That means every payment you make is really being made to yourself. When you’re done repaying the loan‚ you’ll have up to $5‚000 to spend any way you like. And your credit score will have grown too!
Effective Jun 15, 2020
| Type | APR* | Term | Amount |
|---|---|---|---|
| Share Secured | Dividend Rate +2.00% | Up to 15 years | Up to Share Balance*** |
| Credit Builder | Dividend Rate +3.00% | Up to 7 years | Up to $5‚000 |
| Certificate Secured | Dividend Rate +2.00% | Up to Certificate maturity date | Up to Certificate Balance |
| Line of Credit** | 9.99% | Revolving† | $500 - $30,000 |
| Signature** | 7.99% | Up to 84 months | $500 - $50,000 |
Overdraft Protection Line of Credit is an open-ended line of credit used in conjunction with a checking account. This protection is activated when you overdraw your account. That means no more bounced checks!
There's no charge to open an Overdraft Protection Line of Credit account. Finance charges accrue only when the account is activated. You must have a checking account and qualify for a minimum line of credit. Maximum line of credit is $30,000. Overdraft Protection Line of Credit is an open-ended line of credit used in conjunction with a checking account. This protection is activated when you overdraw your account.
Similar to a Share Secured loan, you can borrow up to the balance in your Fixed Rate Certificate. The term of the loan cannot exceed the maturity date of your Variable Rate Certificate.
- Complete the online applicationOpens in New Window
- Email a copy of your Identification (ex: Unexpired Driver’s License, Passport, Resident Alien ID) to consumerloans@lfcu.org
- Also email your Income Verification Documents based on your employment status:
- Salaried Employees: Last 2 pay stubs (must have employee and employer name and period dates)
- Self-Employed: Provide the most recent two years of federal tax returns, including all schedules. If an extension has been filed for last year, please submit a copy of the extension, as well as the previous two years returns.
- Annuitant (Federal, Foreign Service, Private SSA): Annual Statement of Annuity or 1099s
Full Rate Details
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Our members have access to Co-Op Network Shared Branches & ATMs for all basic transaction needs.
Access branches and ATMs nationwide
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Lafayette Federal HomeAdvantage is a free member service that can help you buy, sell and save on your home.
Save $100s to $1,000s in Cash Rewards*
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Dreaming of a new ride? Let us finance your next new, used, or fuel-efficient vehicle.
Rates as low as 2.375% APR*
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