Spectrum Credit Union offers loans for nearly every personal borrowing need, including:
Our loans are available with a variety of terms and repayment options and the low interest rates you expect from your Credit Union!
Stop by your branch today or give us a call at 510-251-6000 or 800-782-8782 to see how we can tailor a loan to meet your needs.
Need to Build — or Rebuild — Your Credit History?
If you are just starting to build a credit history, or trying to rebuild damaged credit, Spectrum has loan options for you.
Minimal Credit History
Members with minimal credit history are now eligible for:
- An auto loan up to $15,000
- An unsecured line of credit up to $2,000
To qualify for either of the two loans, you must have:*
- Two current paystubs
- Minimal credit
- No derogatory history
- Completed the “Credit Matters” course on balancetrack.org with a score of 90% or higher
*Other restrictions may apply.
No Credit History or Damaged Credit History
Share/Certificate Secured Loans and Share Secured Lines of Credit allow you to borrow money against your Share or Certificate Savings accounts. Use these loans to build credit history or to make a large purchase without wiping out your accounts — no credit check required!
For Share Secured or Certificate Secured Loans, funds totaling 100% of the loan amount will be held until the loan is repaid. Loan amounts start at $500 and require a minimum monthly loan payment of $25.
For a Share Secured Line of Credit, only Share accounts can be used as collateral, and funds totaling 110% of the loan will be held until the loan is repaid. Loan amounts range from $500 to $100,000 with a minimum monthly payment of $25. Your initial rate will be determined by the percentage of shares being used as the credit limit and will adjust monthly thereafter.