Debt Consolidation

Simplified Monthly Obligation

Decreased Monthly Payments

Huge Savings from Lowered Interest

Details

Up to $20,000.00

Up to an 84 Month Term

As low as 9.99% APR

Paid Directly to existing Debt

What can YOU save?

Take a look at the average household:

Average National Debt

Per Household

Average Credit Card Rate

% APR

Initial Monthly Payment

Calculated by Interest + 1% Principle

Total Interest Paid

in 337 months

MRFCU Rate

% APR | as low as

Monthly Payment

Scheduled Payment

Total Interest

in 84 months

Saved Interest Payments

Difference In Total Interest

Average Rates

The above example is based on the National Average of Credit Card Debt , and the Average Credit Card Rate provided by the linked outside agencies. MRFCU's debt consolidation is up to $20,000.00, for up to 84 months, as low as 9.99% APR (Annual Percentage Rate). Final interest costs may vary if a borrower chooses to pay more than the calculated minimum payment, or if the borrower chooses to pay more than scheduled towards their debt consolidation loan. Please contact us with any questions.

What are you waiting for?

Apply Now

Current Debt Consolidation Rates

60 Months

9.99 %

APR∗

$21.25

Price per Thousand

72 Months

9.99 %

APR∗

$18.53

Price per Thousand

84 Months

9.99 %

APR∗

$16.60

Price per Thousand

More Terms Avaliable

12 Months

9.99 %

APR∗

$87.90

Price per Thousand

24 Months

9.99 %

APR∗

$46.14

Price per Thousand

36 Months

9.99 %

APR∗

$32.26

Price per Thousand

48 Months

9.99 %

APR∗

$25.36

Price per Thousand

Frequently Asked Questions:

Is this loan only for people with perfect credit?

Our loans, like with any institution, go through an approval process that looks at a persons credit history. You do not need perfect credit to get approved for our Loans. Our loans can be made available to people with average or even below-average credit. Of course, credit score and history is not the only thing we at for when our members apply for a loan. Income and existing obligations are also taken into consideration. That being said the offered interest rate may vary slightly from one approved loan to another because of the higher risk associated with having a lower credit score.

It is our hope that this Debt Consolidation Program can help you more easily manage your debts, leading to improved credit.

How do my debts get paid after I complete the Loan?

After completing the loan paperwork, the credit union will forward payment to your current lenders, based on the information you've provided, on your behalf.

Are there Prepayment Penalties?

No. We have no prepayment penalties on any of our Personal, Auto, Debt or Share-Secured loans. For example, if you pay the entire loan off after one month, you will only pay the interest that accrued over that period of time.

Auto Loans

Personal Loans

MRFCU Whether for Vacation, Home Improvement, or Bills, our flexible personal loan program is perfect to get you the funds you need.

Learn More

Personal Loans

Debt Consolidation

Save yourself the hassle and interest, consolidate your high interest cards and debts into one lower-interest easy-to-manage debt consolidation loan.

Learn More