First Community CU
First Community Credit Union Personal Loans
Borrow from $1,000 to $50,000 with rates starting at 7.99% APR. No collateral required for unsecured loans. Same-day decisions available for qualified members.
First Community Credit Union offers personal loans designed to give members straightforward access to the funds they need, on terms that make sense. As a member-owned, NCUA-insured cooperative, we price our loans to benefit members rather than shareholders. That means competitive fixed rates, transparent fee structures, and no prepayment penalties on any personal loan product.
Whether you need to consolidate high-interest debt, cover a medical expense, fund a home improvement project, or manage an unexpected financial challenge, our lending team is committed to finding a solution that fits your situation. Members with a broad range of credit profiles are welcome to apply, and our credit builder loan is specifically designed for those just starting out or rebuilding their credit history.
Personal Loan Products
Unsecured Personal Loans
Our unsecured personal loan is the most flexible option available, requiring no collateral and offering loan amounts from $1,000 to $50,000. Fixed interest rates range from 7.99% to 18.00% APR depending on creditworthiness, and terms extend up to 84 months (seven years), allowing members to choose a repayment schedule that fits their budget. With fixed monthly payments, there are no surprises — your rate and payment stay the same for the life of the loan.
Share-Secured Loans
A share-secured loan allows members to borrow against the balance held in their First Community savings or share account. Because your savings serve as collateral, rates are significantly lower — starting at just 3.00% APR. Your savings remain in your account and continue to earn dividends throughout the loan term. Loan amounts range from $500 to $25,000, with terms up to 60 months. This is an excellent strategy for members who want to build or strengthen their credit profile while keeping savings intact.
Credit Builder Loans
Our credit builder loan is purpose-built for members who are new to credit or recovering from past financial difficulties. Loan amounts from $500 to $3,000 are placed into a locked savings account while you make regular monthly payments. Once the loan is paid in full, the funds are released to you. Payments are reported to all three major credit bureaus, helping establish a positive credit history. Rates start at 6.50% APR with terms up to 24 months.
Personal Loan Rates and Terms
| Loan Type | Amount Range | APR From | Max Term | Collateral |
|---|---|---|---|---|
| Unsecured Personal | $1,000 – $50,000 | 7.99% | 84 months | None |
| Share-Secured | $500 – $25,000 | 3.00% | 60 months | Share account balance |
| Credit Builder | $500 – $3,000 | 6.50% | 24 months | None |
APR = Annual Percentage Rate. Rates shown are the lowest available and are subject to creditworthiness review. All rates accurate as of April 2026.
How to Apply for a Personal Loan
Applying for a personal loan at First Community Credit Union is straightforward. Members can apply through our online banking portal, via the First Community mobile app, by calling us at (800) 342-8575, or by visiting a branch. You will need to provide basic personal identification, your member number, income information such as recent pay stubs or tax returns, and details about the purpose of the loan.
Once your application is submitted, our lending team reviews it promptly. Most applicants receive a same-day decision when applying during business hours. Upon approval, funds are typically disbursed to your First Community account within one business day. If you are a new member, you may open a savings account with as little as $5 and immediately become eligible to apply for lending products.
For guidance on the application process or to understand which loan type best fits your needs, our member service team is available Monday through Friday 8 AM to 6 PM and Saturday 9 AM to 2 PM. You may also visit the Consumer Financial Protection Bureau's personal loan resources to better understand loan terms and your rights as a borrower.
Frequently Asked Questions
What credit score is needed for a personal loan at First Community Credit Union?
A minimum credit score of 620 is generally required for most personal loan products. Members with scores of 700 or higher typically qualify for our best rates starting at 7.99% APR. For members with limited or damaged credit history, our credit builder loan offers a path to establish a positive credit profile. Our lending advisors can review your full financial picture and recommend the most suitable option. Call us at (800) 342-8575 to discuss your situation.
What is a share-secured personal loan?
A share-secured loan allows you to borrow against the funds already held in your First Community savings or share account. Your savings act as collateral, which substantially reduces the lender's risk — and that savings is passed on to you in the form of a lower interest rate, starting at 3.00% APR. Your savings remain in your account and continue earning dividends throughout the loan term. This type of loan is ideal for building or repairing credit at a lower cost.
Can I pay off my personal loan early without a penalty?
Yes, absolutely. First Community Credit Union charges no prepayment penalties on any personal loan product, including unsecured loans, share-secured loans, and credit builder loans. You may make additional payments at any time, increase your regular payment amount, or pay off the entire remaining balance in full without incurring any additional fees or charges. Paying early reduces the total interest you pay over the life of the loan.
How fast is the personal loan approval process?
Most personal loan applications submitted during business hours receive a same-day credit decision. After approval, funds are typically deposited into your First Community account within one business day. In some cases, applications that require additional verification or documentation may take slightly longer. To speed up the process, have your income documentation ready and ensure your contact information in your member profile is current. Apply online through online banking or call (800) 342-8575.
What can I use a First Community personal loan for?
Personal loan funds may be used for virtually any lawful purpose. Common uses include debt consolidation (combining multiple high-interest debts into a single lower-rate payment), home improvements and repairs, medical or dental expenses, major purchases such as appliances or electronics, wedding or event expenses, moving and relocation costs, and emergency expenses. There are no restrictions on how you use unsecured personal loan proceeds.