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Personal Loans

Erase high-interest debt.

Our personal loan options can help you reduce your outstanding debt through consolidation into a single loan. Whether you have balances on high-rate credit cards, store cards, or other loans and lines of credit, a free review by one of our helpful member advisors at Farmington, Hartland or Howell could mean hundreds or even thousands of dollars in savings for you.

Our personal loans are also great to cover your lifestyle needs for those large out-of-pocket or unexpected expenses such as:

  • Medical deductibles
  • Auto repairs
  • Home repairs
  • Wedding expenses


Fixed-Rate Personal Loan

  • Variety of terms up to 60 months based on loan amount
  • Low-fixed rate based on term, balance and credit history
  • No collateral required
  • Easy repayment options

Personal Line of Credit

  • No annual fee
  • Borrow up to $20,000
  • Funds easily available to you when you need them through online or mobile banking
  • Acts as overdraft protection for your LOC checking account
  • Minimum payment is 3% of the outstanding balance


Personal Loans/Lines of Credit
Effective Date: Saturday, May 27th, 2017
Loan TypeAPR As Low AsTermMinimum or MaximumNote
Personal Loan 5.90% up to 48 Months $7,000 Max Fixed Rate
Personal Loan 8.00% up to 60 Months $25,000 Max Fixed Rate
Personal Line of Credit 11.90% N/A $20,000 Max Variable Rate

APR = Annual Percentage Rate

Rate and term may vary based on credit score.

See How You Can Get Financially Fit

 LOC Personal Loan**

Other Lender Loan or
Credit Card**

 Approx. Savings at LOC **

$5,000 loan at 5.9% APR
for 36 Months: Interest = $469

$5,000 loan at 18% APR for 36 months: Interest = $1,512


$10,000 loan at 8% APR for 60 months: Interest = $2,170

$10,000 loan at 24% APR for 60 months: Interest = $7,277


*Rates based on individual credit history, amount, and term of loan. Loans cannot be used to pay on existing loans at LOC Federal. New money only. Estimated monthly payment on a loan at 5.9% APR equals $23.44 per $1,000 borrowed. Estimated monthly payment on a loan at 8.00% APR equals $20.28 per $1,000 borrowed. Estimated monthly payment on a $20,000 vehicle loan at 1.99% APR for 24 months equals $24.00 per $1,000 borrowed.

**Interest and savings are estimates. Actual savings may vary based on loan amount, term, early payoff, and payment history.

If you’re interested in applying, you can get the process started today online.  If you prefer, come into a branch for a free loan review or call us at 800.837.4562



Our Members Are Getting
Financially Fit

This summer my car broke down out of state and I needed to get it fixed using my credit card with an interest rate of 13.9%. LOC gave me a personal loan at 5.9% and is going to save me $3,000 in interest. They were amazing!

Marcy and LOCFinancially Fit Together ℠

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Check out LOC's Platinum VISA Credit Card.

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Toll Free: 800.837.4562

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