Borrow the Money You Need Now!
When it comes to your finances, flexibility is the key. That's why MemberSource is your source for loans. We have as many ways to lend as you have to spend. When you're looking for a simple and quick loan, not much beats a personal loan or line-of-credit.
Personal Loan
With terms up to 60 months and a minimum payment as low as $1,000, this fixed-rate loan is perfect for buying that home computer, new entertainment system, and more. No matter how you spend the money, you'll have a competitive rate and the option to add payment protection to the loan.
Prime Plus Line-of-Credit
A line of credit is great to have "just in case". If you're budget conscious, this is a great loan for you. It has a market-competitive rate tied to the prime lending rate (based on 4% APR above the prime rate as published in the Wall Street Journal), and a set monthly payment that's based on your approved limit. A favorite feature of this loan is the convenient access. You can access your funds from our Touchtone Teller, Home Banking and Mobile Banking and simply transfer funds from the line of credit into your checking account. Plus, you can use your line of credit as overdraft protection for your MSCU checking account.
Apply for a Line-of-Credit loan from MemberSource today.
Secured Loans
When you secure a loan with your savings account or a certificate, it almost always means you'll pay a lower rate than with an unsecured loan. So, if you need a quick and less expensive loan, a MemberSource secured loan may be the way to go.
Personal Computer or Furniture
When you're just starting out—or starting over—furniture can be a rather expensive necessity. We're here to help with a $1000 minimum, fixed rate, 36-month loan that pays for 100% of the purchase price. Add payment protection to it, and you've got a great loan with outstanding peace of mind.
Share-Secured
What you use the money for is up to you. Your maximum borrowing limit is based on the amount you have in your share account and the rate is based on your desired term and the rate you're earning on your share account.
Term Share Certificate-Secured—CD Secured
This secured loan features a $1,000 minimum with terms based on your current share earnings and more. While the term cannot exceed the maturity of the term share certificate, it is a great way to borrow money while you earn interest on your collateral.
Credit Builder Loan
If you have no credit, little credit, or want to improve your current credit, this loan is just for you. The borrowed amount is deposited into your MSCU savings account and held while you make payments building your credit. You don't have to come up with the initial deposit - we'll lend it to you! Here's how it works:
- Choose your amount - from $1000 to $2500
- Choose your repayment period - from 6 months to 24 months
- Loan proceeds will be deposited into your savings account and held
- Standard rate of 6% apr*
- As loan balance is paid down, the held funds are released
or call 713.627.4000
*APR is Annual Percentage Rate. Payment example $1000 at 6% apr for 12 months is $86/mo. The granting of a Credit Builder Loan does not guarantee future loans. Subject to approval. May pay off the loan early, but it is strongly encouraged to pay scheduled monthly payments for the term of the loan in order to build a good payment history. Payment history reported to credit bureaus. See credit union representative for details.