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Three Ways to Consolidate your Debt

Three Ways to Consolidate your Debt

Debt. We hear about it, read about it, and some of us might even have it. Credit cards, bills, student loans… the list keeps on going. It might seem scary but there’s a solution to every problem.

Let us introduce you to debt consolidation. At UKRFCU, we pride ourselves on delivering higher savings rates and lower loan rates. This brings us to three products we provide for debt consolidation that you should consider:

  1. A balance transfer credit card: Our VISA® Platinum is a great option if you’re looking to transfer a balance. From a low introductory Annual Percentage Rate (APR) for balance transfer and limited fees, you’ll be able to pay off your balance in a short amount of time. To learn more about our VISA® Credit Cards, please click here.
  2. A home equity loan: Our home equity loans are a great option if you want to tap into your home’s equity for debt consolidation. Choose one that is best for you:
    1. Home equity loan – Perfect for those individuals who need a specific amount of money for a one-time expense. This home equity loan has a fixed rate for the life of the loan, fixed monthly payments, one lump sum when you get the loan, and you can borrow up to 90% of your home′s value. Learn more about this option by clicking here.
    2. Home equity line of credit (HELOC) – Perfect for those individuals who expect to have ongoing expenses. This is a great option if you want the ability to borrow as little or as much as you want, whenever you need it. This home equity line of credit has a variable rate, which is based on the U.S. Prime Rate, variable monthly payments, use as needed (up to the approved credit limit), and borrow up to 90% of your home’s value. Learn more about this option by clicking here.
    3. Home equity linme of credit (HELOC) – interest only – Perfect for those individuals who expect to have ongoing expenses. This is a great option if you want the ability to borrow as little or as much as you want and have the lowest possible payment. This home equity line of credit has a variable rate, which is based on the U.S. Prime Rate, variable interest only monthly payments, use as needed (up to the approved credit limit), and borrow up to 90% of your home’s value. Learn more about this option by clicking here.
  3. A personal loan: Our personal loan is a great option if you want to take control of your debt. Our unsecured fixed rate loan is simple, convenient, and quick to apply for. Debt can get expensive but we got you covered. Learn more about our personal loans by clicking here.

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