If you need a personal loan, check out our rates. The experienced consumer loan team here at Merrimack Valley Credit Union and Bridgewater Credit Union, a division of Merrimack Valley Credit Union, is ready to help you make the best financing decision on your next purchase, no matter how big or small.
Compare our rates and then apply online for fast approval.
| Personal Unsecured Loans | |||
| Effective Date: Saturday, November 9th, 2024 | |||
| Loan Type | APR* as low as | Loan Term in Months | Monthly Payment per $1,000 |
| Holiday Loan Special+ | 6.99% | 12 | $86.76 |
| Personal Unsecured Loans | 10.24% | up to 66 | $19.97 |
| Peace of Mind Unsecured | 9.24% | up to 66 | $19.46 |
| Smart Choice Unsecured | 10.24% | up to 60 | $21.46 |
| Share Secured | Add to Share 3.50% | up to 66 | |
| Share Certificate Secured | Add to Certificate 3.50% | CD Maturity | |
| Overdraft Line of Credit ($500 - $2,500) | 18.00% | N/A | |
| Personal Line of Credit ($500 - $5,000) | 12.99% | N/A | |
For cash out or refinancing of existing Merrimack Valley secured loans, contact the Credit Union for rates, terms, and conditions.
*APR is based on $10,000 financed. APR and term are determined by the evaluation of applicant's credit history and the actual rate and/or term may vary. We use risk-based pricing to determine the interest rate and/or term (see below).
What is Risk-Based Pricing?
Risk-based pricing is a system that evaluates the risk factors of your loan application and credit profile and adjusts the interest rate and/or term up or down based on this risk evaluation.
What Factors Can Affect My Loan Pricing?
We will obtain a credit report that shows the amount of debt you have outstanding and how you have historically paid on your debt. The credit report will also contain a "credit score" that ranks your credit history. Credit scores look at five main kinds of credit information, namely: payment history; amount owed; length of credit history; new credit; and types of credit in use. Generally, if you have had any history of nonpayment or late payments on any loans or debt, this may lower your credit score and increase your interest rate and costs. People with high credit scores consistently pay their debts on time, keep balances low on credit cards and other revolving loans, and apply for and open new credit accounts as needed.