Debt Clean Up!

Post date: 1/1/2022
Availability and special terms are subject to change.


Nothing feels better than managing your debt. Tackle the money you owe with a lower rate and monthly payment you can afford.

At First United CU, we offer several ways to manage your finances — including mounting debt. For example, you can eliminate high-rate auto loans, pay off expensive credit card debt, or clean up accumulated bills. You’ll save money and be relieved to control your debt in a manageable, responsible way.

When you consolidate debt, you take the pressure off.

  • Gain immediate savings with a lower APR.
  • Eliminate multiple payments — make one low monthly payment for peace of mind.
  • Reduce your stress and pay down debt faster.
  • As you pay down debt, you’ll improve your credit score.

For long-term success:

  • Set a disciplined budget and avoid incurring more debt. Use our online and mobile banking tools to track what you spend each month to assist.
  • Schedule a date you wish to be debt-free. Monitor your improvement monthly.
  • Use direct deposit to be more disciplined in your savings.
  • Enroll in automated loan payments to ensure payments are made on time, every time.
  • Ask for extra help if you need it. The team at First United CU has resources available.

Rest easy.

Get out from debt overload and consolidate your debt.

Weigh your options:

  • Personal Loan – A key benefit is that you can use the funds for any purpose, and you don’t have to risk your home or other collateral. Consolidate various debts into one easy payment. It’s a good choice if you have a strong credit score and need the funds quickly. You’ll receive the loan amount as a single lump sum to use as you choose. Once you pay off your debt, try not to accumulate more debt on your credit cards and other credit sources.
  • Share Secured – You can use your savings balance to get an excellent low rate while preserving your savings. Here, you pledge to the lender your share savings as you repay the loan. Because this type of loan is a very low risk for the lender, you’ll save with one of the lowest rates at your disposal. It’s also an excellent way to build or rebuild your credit. Typically, you can borrow any amount equal to your savings.
  • Home Equity – An advantage of home-ownership is leveraging your equity as collateral for a loan to pay for a large purchase or pay off higher-rate debt. For instance, you can rollover your house or car payments, credit card debt, student loans, or other bills — and save with a low rate, typically lower than different types of financing. Another benefit of this loan is having a longer repayment period. However, you will owe any remaining balance should you decide to sell your home, and because your home is used as collateral, you potentially risk losing it if you become unable to repay.
  • Credit Card Balance Transfer – Transfer your high-interest credit cards to a lower rate credit card and reduce your interest expense. You won’t have to juggle multiple cards and payments. The key to success is to pay off your debt and avoid incurring additional credit card debt — which defeats the purpose of a balance transfer. We suggest you use cash or debit for future purchases until you pay the transferred balance in full.

Tackle your debt today.

With any of these convenient options, you’ll enjoy a low rate, a set payment, and one due date to remember – and when you take advantage of payroll deduction, you’ll never forget a payment!

Personal (Unsecured) Loans

As low as 8.99% APR*

Compare this rate to the banks, often 28% or higher.

Share Secured Loans

As low as 3.25% APR*

Once approved, we’ll provide you with a check to pay off all your high-interest debts.

Home Equity Loans

As low as 2.25% APR*

Use your equity established to borrow at an excellent rate. It’s one of your most affordable financing options! Once approved, we’ll provide you with a check to pay off all your high-interest debts. You can also use cash for any other reason.

Credit Card Balance Transfers

A low 4.99% APR**

Make as many transfers as needed with no balance transfer fees. You’ll eliminate multiple payments and can pay down debt faster.

Apply for this balance transfer rate through June 30, 2022, and save all year through December 31, 2022.

Make it easy on yourself.

Bring us the loans and other bills you’d like to consolidate, and we’ll directly pay each creditor for you. Click here to apply.

*APR = Annual Percentage Rate. Rates good as of January 1, 2022. Rates based on creditworthiness and subject to change without notice. Some restrictions apply. **APR = Annual Percentage Rate. Promotional balance transfer rate effective on balance transfers made January 1 – June 30, 2022. As low as 4.99% APR, 400 BP reduced from member’s normal APR transfer rate through December 31, 2022, for any balances transferred through June 30, 2022. All three credit cards qualify for the promotion. Remaining balances will begin incurring interest at your card’s standard Retail/Purchase APR as disclosed in your cardholder agreement on January 1, 2022. Your account must be in good standing. Rates and terms subject to change without notice. Rewards and/or rebates are not eligible with this offer. Payments made to your account will be applied first to any finance charges/interest and other fees due and then to the unpaid principal balance with the highest APRs. Offer is not good on other current First United CU card balances. Other restrictions may apply; applicant must meet current credit criteria, and we may need to pull a new credit report.


Need Extra Help?

If you’re feeling overwhelmed or are struggling, we have additional resources to assist you. Contact us today for help.