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Personal loans with TFCU

Home projects. Debt consolidation. Unexpected expenses. At Thrivent Federal 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 Financial, 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 TFCU 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

Certificate Secured

Type Term (Months) APR as low as (%) APR with Autopay as low as1 (%)
Certificate Secured Up to Maturity Date of Certificate 2.5 plus Certificate Rate 2.0 plus Certificate Rate

1 Must set up autopay from a Thrivent Federal Credit Union Account.

Rates used in this example are effective as of August 13, 2018 and assume automatic payment from a Thrivent Federal Credit Union account. 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 Financial Life Insurance Secured – Fixed Rate

Type Term (Months) Loan Amount APR as low as (%) APR with Autopay as low as1 (%)
Thrivent Financial Life Insurance Secured 60 $5,000 – $10,000 6.09 5.59
Thrivent Financial Life Insurance Secured 60 > $10,000 5.49 4.99

1 Must set up autopay from a Thrivent Federal Credit Union Account.

Rate used in these examples are effective as of August 13, 2018 and assume automatic payment from a Thrivent Federal Credit Union account. Rates are subject to change without notice. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.

Payment examples:

A $10,000 loan with a simple interest rate of 5.59% and a corresponding Annual Percentage Rate (APR) of 5.59% for 60 months equates to a monthly principal and interest payment of $191.44.

A $20,000 loan with a simple interest rate of 4.99% and a corresponding Annual Percentage Rate (APR) of 4.99% for 60 months equates to a monthly principal and interest payment of $377.36.

Thrivent Financial 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 (%) APR with Autopay as low as1 (%)
Thrivent Financial Life Insurance Secured 120 $10,000 – $100,000 5.49 4.99
Thrivent Financial Life Insurance Secured 180 > $100,000 5.24 4.74

1 Must set up autopay from a Thrivent Federal Credit Union Account.

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 August 13, 2018 is 2.80%. 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 without notice but will not be lower than 4.5% or higher than 18%. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.

Rates used in these examples are effective as of August 13, 2018 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 month, until maturity.

Payment examples:

A $20,000 loan with a simple interest rate of 4.99% and a corresponding Annual Percentage Rate (APR) of 4.99% for 120 months equates to a monthly principal and interest payment of $212.05.

A $150,000 loan with a simple interest rate of 4.74% and a corresponding Annual Percentage Rate (APR) of 4.74% for 180 months equates to a monthly principal and interest payment of $1166.06.

Personal

Type Term APR as low as (%) APR with Autopay as low as1 (%)
Preferred Line of Credit 5 years 12.74 12.24
Reserve Line of Credit As long as the Checking is open Autopay required 14.00

1 Must set up autopay from a Thrivent Federal Credit Union Account.

Rates used in these examples are effective as of August 13, 2018. Rates are subject to change without notice. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.

Preferred Line of Credit
The Prime Rate as of June 15, 2018, is 5.00%, with a corresponding variable Annual Percentage Rate (APR) as low as 14.00%. The rate is based on an index (Prime Rate) plus the margin in effect at the time your loan is originated. This rate is subject to change, but will not be lower than 7.99% and in no case will exceed 18%. 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 14.00% with a corresponding Annual Percentage Rate (APR) of 14.00%. 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 (%) APR with Autopay as low as1 (%)
700+ 36
(up to 60 month term available)
8.49 7.99
680-699 36
(up to 60 month term available)
10.49 9.99
660-679 36
(up to 48 month term available)
12.49 11.99
620-659 36 14.49 13.99

1 Must set up autopay from a Thrivent Federal Credit Union Account.

Rates used in these examples are effective as of August 13, 2018. Rates are subject to change without notice. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.

Unsecured Personal Term Loans
A $10,000 personal loan with a simple interest rate of 7.99% and a corresponding Annual Percentage Rate (APR) of 7.99% for 36 months equates to a monthly principal and interest payment of $313.32.

A $10,000 personal loan with a simple interest rate of 9.99% and a corresponding Annual Percentage Rate (APR) of 9.99% for 36 months equates to a monthly principal and interest payment of $322.62.

A $10,000 personal loan with a simple interest rate of 11.99% and a corresponding Annual Percentage Rate (APR) of 11.99% for 36 months equates to a monthly principal and interest payment of $332.10.

A $10,000 personal loan with a simple interest rate of 13.99% and a corresponding Annual Percentage Rate (APR) of 13.99% for 36 months equates to a monthly principal and interest payment of $341.73.

Investment Secured Line of Credit

Type Term (Months) Apr w/ ACH1 (%) APR Non-ACH (%)
Thrivent Investment Secured Line of Credit 12 6.00 6.50

Your initial rate is determined by the highest Prime Rate as published in the "Money Rates" section of the Wall Street Journal (Index), rounded to the next higher 0.01%, plus a Margin of 1.000%. We will use the most recent Index value available to us as of the third Monday of each month prior to any APR adjustment. The APR is subject to change on the first day of each monthly billing cycle, which is the day after your payment is due to reflect any change in the index. The APR will never be greater than 18.00% or the maximum rate allowed by law, whichever is less. Any increase in APR will result in a higher payment amount. Minimum loan amount of $20,000. Certain restrictions apply. Subject to credit application, qualification and approval. Must qualify for membership.

1 Must set up autopay from a Thrivent Federal Credit Union Account.

All loans and lines of credit are subject to credit application, qualification and approval. Must qualify for membership.