Personal loans with TCU
Home projects. Debt consolidation. Unexpected expenses. At Thrivent Credit Union, we know that sometimes you need a financial boost. That's why we're ready to help with a variety of personal loans.
Life insurance secured
If you have a life insurance policy with Thrivent, you can borrow against the cash value of the policy. This type of loan has a lower rate than an unsecured loan with terms up to 180 months (or 15 years).
Certificate secured
If you own a TCU certificate, you can take a loan on the money in the certificate. The rate is based off the certificate rate plus a percentage, and the term can be up to the maturity date of the certificate.
Reserve line of credit
Life happens, and you can't always plan for it. Add a reserve line of credit to your checking account to cover emergencies or unexpected expenses. The interest rate is fixed, and you only pay interest on the amount borrowed. There is no advance fee charge. You can easily transfer funds online or call us to do it for you.
Preferred line of credit
If you need $5,000 or more, the preferred line of credit is for you. The interest rate is typically lower than the reserve line of credit and does not have to be tied to a checking account.
Personal loan
If you don't have collateral to use, this is an option to borrow $1,000 or more for a variety of purposes. Rates vary.
Investment secured Line of Credit
If you have an eligible Thrivent Investment Management Inc. account and need a short-term loan, an investment secured line of credit might be an option for you. Get quick access to funds and use your investments as collateral, without cashing in on your securities.
Rates
All loans and lines of credit are subject to credit application, qualification and approval. Rates are subject to change without notice. Some restrictions may apply.
Must qualify for membership.
Certificate Secured
| Type | Term (Months) | APR as low as (%) |
|---|---|---|
| Certificate Secured | Up to Maturity Date of Certificate | 2.0 plus Certificate Rate |
Your rate will be determined based on payment method, account relationship and collateral. Rate(s) listed reflect a .50% loan discount.
Rates used in this example are effective as of May 5, 2023 and reflect a .50% loan discount. Rates are subject to change without notice. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.
Payment example: A $20,000 loan with a simple interest rate of 3.00% and a corresponding Annual Percentage Rate (APR) of 3.00% for 36 months equates to a monthly principal and interest payment of $581.62.
Thrivent Life Insurance Secured – Fixed Rate
| Type | Term (Months) | Loan Amount | APR as low as (%) |
|---|---|---|---|
| Thrivent Life Insurance Secured | 60 | $5,000 – $10,000 | 8.59 |
| Thrivent Life Insurance Secured | 60 | > $10,000 | 7.99 |
Your rate will be determined based on payment method, account relationship and collateral. Rate(s) listed reflect a .50% loan discount.
Rate used in these examples are effective as of May 5, 2023 and reflect a .50% loan discount.
Payment examples:
A $10,000 loan with a simple interest rate of 8.59% and a corresponding Annual Percentage Rate (APR) of 8.59% for 60 months equates to a monthly principal and interest payment of $205.60.
A $20,000 loan with a simple interest rate of 7.99% and a corresponding Annual Percentage Rate (APR) of 7.99% for 60 months equates to a monthly principal and interest payment of $405.43.
Thrivent Life Insurance Secured – Adjustable Rate
Rate adjusts after being fixed for the first 5 years and every 5 years thereafter, until maturity.
| Type | Term (Months) | Loan Amount | APR as low as (%) |
|---|---|---|---|
| Thrivent Life Insurance Secured | 120 | $10,000 – $100,000 | 7.99 |
| Thrivent Life Insurance Secured | 180 | > $100,000 | 7.74 |
Your rate will be determined based on payment method, account relationship and collateral. Rate(s) listed reflect a .50% loan discount.
Your initial rate is determined by your payment option and loan amount and may not necessarily be based on the current value of the index plus a margin. After the first 60 months, your rate will adjust based on the value of the index (5-year Treasury Rate – weekly average yield on United States Treasury securities adjusted to the constant maturity of five years) plus a margin. Margins range from 3.25% to 4.00% based on payment option and loan amount. The 5-year Treasury Rate as of May 22, 2023 is 3.60%. Your rate will adjust every 60 months thereafter until maturity. A change in rate will result in a corresponding change in payment. Rates are subject to change but will not be lower than 4.5% or higher than 18%.
Rates used in these examples are effective as of May 5, 2023 and assume automatic payments from a Thrivent Federal Credit Union account. Examples are based on the initial rate and full term. Rate and payment can adjust every 60 months, until maturity.
Payment examples:
A $20,000 loan with a simple interest rate of 7.99% and a corresponding Annual Percentage Rate (APR) of 7.99% for 120 months equates to a monthly principal and interest payment of $242.55.
A $150,000 loan with a simple interest rate of 7.74% and a corresponding Annual Percentage Rate (APR) of 7.74% for 180 months equates to a monthly principal and interest payment of $1,411.05.
Personal
| Type | Term | APR as low as (%) |
|---|---|---|
| Preferred Line of Credit | 5 years | 15.49 |
| Reserve Line of Credit | As long as the Checking is open | 17.251 |
1Autopay required.
Your rate will be determined based on payment method, account relationship and creditworthiness. Rate(s) listed reflect a .50% loan discount.
Rates used in these examples are effective as of May 5, 2023.
Preferred Line of Credit
The Prime Rate as of May 5, 2023, is 8.25%. The rate is based on an index (Prime Rate) plus the margin in effect at the time your loan is originated. This variable rate is subject to change but in no case will exceed 18% or the maximum rate allowed by the law, whichever is less. Minimum credit score of 700 required. Monthly payments made during the term of the loan may not fully amortize the outstanding balance and may result in a balloon payment.
Reserve Line of Credit
Applicable simple interest rate is 17.25% with a corresponding Annual Percentage Rate (APR) of 17.25%. Monthly payments made during the term of the loan may not fully amortize the outstanding balance and may result in a balloon payment. Automatic payments required.
Unsecured Personal Term Loans
| Credit Score | Term (Months) | APR as low as (%) |
|---|---|---|
| 700+ | 36 (up to 60 month term available) |
11.74 |
| 680-699 | 36 (up to 60 month term available) |
13.74 |
| 660-679 | 36 (up to 48 month term available) |
15.74 |
| 620-659 | 36 | 17.50 |
Your rate will be determined based on payment method, account relationship and creditworthiness. Rate(s) listed reflect a .50% loan discount.
Rates used in these examples are effective as of May 5, 2023.
Unsecured Personal Term Loans
A $10,000 personal loan with a simple interest rate of 11.74% and a corresponding Annual Percentage Rate (APR) of 11.74% for 36 months equates to a monthly principal and interest payment of $330.90.
A $10,000 personal loan with a simple interest rate of 13.74% and a corresponding Annual Percentage Rate (APR) of 13.74% for 36 months equates to a monthly principal and interest payment of $340.51.
A $10,000 personal loan with a simple interest rate of 15.74% and a corresponding Annual Percentage Rate (APR) of 15.74% for 36 months equates to a monthly principal and interest payment of $350.29.
A $10,000 personal loan with a simple interest rate of 17.50% and a corresponding Annual Percentage Rate (APR) of 17.50% for 36 months equates to a monthly principal and interest payment of $359.02.
Investment Secured Line of Credit
| Type | Term (Months) | Apr as low as (%) |
|---|---|---|
| Thrivent Investment Secured Line of Credit | 12 | 8.75 (Prime + .50%) |
Your rate is determined by the highest U.S. Prime Rate as published in the "Money Rates" section of the Wall Street Journal (Index), rounded to the nearest hundredth (0.01) decimal place, plus a Margin. The rate is variable and is subject to change on the first day of each monthly billing cycle, which is the day after your payment is due. Your rate will adjust based on the most recent Index value available to us as of the third Monday of each month prior to any rate adjustment, rounded to the nearest hundredth (0.01) decimal place, plus the Margin. The rate will never be greater than 18.00% or the maximum rate allowed by law, whichever is less. Any increase in rate will result in a higher payment amount. Minimum loan amount of $20,000.
Your rate will be determined based on payment method, account relationship, creditworthiness and collateral. Rate(s) listed reflect a .50% loan discount.