Personal Loans
Whether you’re planning a vacation or wedding, dealing with unexpected expenses, or simply looking to consolidate your debts, a personal loan can provide the funds you need at one low monthly payment. CommonWealth offers unsecured personal loans from $500 up to $50,000 with great rates as low as 9.99% APR* and terms of 6 months up to 60 months.
As low as
9.99%
APR*
Max Term
60
Months
Competitive Rates
With low fixed rates, you'll always be on top of your monthly budget.
Quick Decisions
Apply today and we'll get back to you within 1-3 business days. If you're not yet a member, becoming one takes no time at all.
Easy Access to Funds
Get the funds you need easily and fast. Funds are often available the same day as approval
Personal Loans from CommonWealth Central CU
| Best For | People seeking a lump sum of cash to pay back at regular intervals |
|---|---|
| Amount | $500 up to $50,000 |
| Interest Rate | As low as 9.99% APR* up to a maximum of 22.99% APR |
| Loan Terms | 6 months to 60 months |
| Fees | No origination fees and no prepayment penalties |
| Type | Unsecured -- no collateral needed |
Why Choose CommonWealth Central Credit Union
CommonWealth Central Credit Union began in a garage right here in Santa Clara -- just like the software giants and startups of Silicon Valley.
From our humble roots, we've grown to serve over 35,000 members of our community. We know what you want and our services are tailored to your needs. Join us today!
Ways You Can Use Your Personal Loan
Home Improvements
Whether you need to replace an appliance or do some repairs, a personal loan can make it happen.
Debt Consolidation
It's hard to keep track of multiple credit cards and debts. Make life easier with one handy loan.
Weddings
Between the venue, flowers, and catering, costs can quickly spiral. Use a loan to keep them in control.
Education
Maybe you've got your tuition covered but need some extra cash to cover living expenses.
Building Credit
If you have little financial history, paying a loan back on time every month will boost your credit score.
More
There's no limit to how you can use your loan. Borrow the amount of choice and spend it as you like.
Home Improvements
Whether you need to replace an appliance or do some repairs, a personal loan can make it happen.
Debt Consolidation
It's hard to keep track of multiple credit cards and debts. Make life easier with one handy loan.
Weddings
Between the venue, flowers, and catering, costs can quickly spiral. Use a loan to keep them in control.
Education
Maybe you've got your tuition covered but need some extra cash to cover living expenses.
Building Credit
If you have little financial history, paying a loan back on time every month will boost your credit score.
More
There's no limit to how you can use your loan. Borrow the amount of choice and spend it as you like.
- What can I use my personal loan for?
You can use your personal loan for any purpose you like. It could be for one specific expense, or a variety of unexpected costs that you're currently facing.
Common uses include home and car repairs, weddings, vacations, debt consolidation, and as a tool to build credit.
- How long do I have to pay my loan back?
You can choose from 61 days up to 60 months to repay your loan. Your monthly loan payment will be the same every month because we offer a fixed interest rate.
There's no penalty if you choose to pay your loan off early.
- What personal loan interest rates will I get?
Your interest rate will be determined by your credit history. Much of your financial activity will affect your credit score, including your debt to income ratio. The higher your credit score, the better rate you'll get.
If you don't feel confident about your credit score just yet, you could apply for a low-interest credit card and start building credit that way before you apply for a loan. A personal loan is a great stepping stone towards larger loans such as a mortgage.
- Can I get a personal loan if I have bad credit?
Unfortunately, if your credit is too low, you may not qualify for a loan at this time. But you could apply for one of our secured credit cards to get you back on track. Secured means that you make a cash deposit to serve as collateral for your credit card.
Once you've established a good payment record, you may graduate to an unsecured credit card. Then, eventually, you'll qualify for a personal loan.
- How can I access my personal loan funds?
Your personal loan funds will be applied to your checking account. You'll be able to use the funds through bank transfers, peer-to-peer payment apps, your checkbook, or ATM withdrawals.
- What if I don't live in Santa Clara?
You can join CommonWealth Central CU if you live or work in Santa Clara Valley, if one of your family members is already a member, you live with a member, or you work for a participating CommonWealth Member Company.
Other Ways We Can Help With Your Financing
Credit Card
With no annual fee and credit limits ranging from $500 to $50,000, we have a credit card to suit every stage of your journey.
Auto Loan
Enjoy no payments for 90 days and flexible terms to suit your budget. Get pre-approved and show up at the lot ready to go.
Home Equity Line of Credit
Access up to 80% of your home's equity with a loan of $10,000 to $500,000.
How Can You Apply
We’ve Made Applying Easier Than Ever
Contact Us About Personal Loans
Terms 6 months to 60 months
*APR = Annual Percentage Rate. Rates range from 9.99% APR* to 22.99% APR. Loans subject to credit approval. The rate you receive will be based on creditworthiness and may be higher than the rates shown above.
**Based on the advertised rate of 9.75% with a 60 month loan term payment example: $21.24 per month for each $1,000 borrowed. Minimum loan amount of $5,000. Offer subject to change without notice. Certain restrictions may apply.
