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Personal Loans & Personal Line of CreditPersonal loans from Genisys Credit Union

Whether you need extra cash for a large purchase, special occasion, or some other expense, a personal loan can be a great way to pay for it. Genisys Credit Union offers convenient, easy-to-access personal loans that offer the flexibility you need to pay for a number of expenses, whether they’re something you expected or something that snuck up on you.

More than just a debt consolidation loan, personal loans are a great way to pay for expenses both planned and unplanned.  Many personal loans are small loans that can help you finance a number of purchases or expenses, allowing you a degree of financial security you might not have had in the event of an emergency expense or sudden purchase opportunity.

Genisys also offers unsecured personal lines of credit for additional flexibility. Our lines of credit let you borrow against a set credit amount in whatever amount you need, transferring the money directly to your checking account. With a line of credit from Genisys, you have the flexibility to borrow the exact amount you need, whenever you need it most.

No matter what your specific financial need, Genisys offers versatile and convenient personal loans to help with whatever may arise. Even lower credit scores, or less-than-perfect credit, may be considered for a personal loan depending on a number of unique financial circumstances and other factors.

Take a look at the variety of personal loans we offer and find the one that can best help you and your family:


Personal Loan Special
Effective Date: Monday, October 25th, 2021
NameAPR as low as*Approximate Term
Personal Loan Special 5.99%

up to 48 months

Personal Loan Special 7.24%

up to 60 months

*Annual Percentage Rates (APR) and terms may vary depending upon credit qualifications, age of collateral, payment protection package, and Direct Deposit of payroll, social security or retirement with AutoPay set up from a Genisys checking or savings account. Minimum credit score required to qualify for this loan. Loan limits from $5,000 and up to $30,000 with terms up to 60 months. Limited time offer. Approximate monthly payment would be $23.48 per $1,000 borrowed at 5.99% for 48 months or $19.91 per $1,000 borrowed at 7.24% for 60 months.

Personal Loans
Effective Date: Monday, October 25th, 2021
NameAPR as low as*Approximate Term

Personal Loans


up to 60 months

*Annual Percentage Rates (APR) and terms may vary depending upon credit qualifications, age of collateral, payment protection package, and Direct Deposit of payroll, social security or retirement with AutoPay set up from a Genisys checking or savings account.  Approximate monthly payment would be $20.51 per $1,000 borrowed at 8.49% for 60 months.  Maximum total unsecured credit allowed is $50,000.

Personal Line of Credit
Effective Date: Monday, October 25th, 2021
Overdrafts to your checking account
APR as low as*Maximum APR
8.99% 18.00%
*Annual Percentage Rates (APR) may vary depending upon credit qualifications.  Maximum loan amount $10,000.  Payments do not begin until an advance is made.  Funds are accessed by transferring funds to your Genisys checking account.

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Personal Loan FAQ

What is a personal loan?

A personal loan is exactly like it sounds - a loan given for a personal expense, either planned or unplanned, that doesn’t require a bigger loan like for a car or a home. The main advantage of personal loans is that they offer a degree of flexibility, as opposed to the stricter timelines and limited usage of a mortgage or auto loan.

How do personal loans work?

Personal loans work like many other types of loans - you simply fill out an application that specifies the amount you need a loan for, and what the money will be used for, and if you’re approved you’re free to use the money for almost anything you need! The loan is repaid on a set schedule every month, at the same amount every time, just like any other loan would be, but once the money is in your hand you can use it to pay for nearly any financial need you may have.

Who and what qualifies for a Personal Loan?

You may think that qualifying for a Personal Loan is difficult, or that it can only be used for certain things. A personal loan is just that – a PERSONAL loan to be used for whatever you see fit. However, that doesn’t mean that we won’t ask you what the funds will be used for. Lenders need to know what the intended purpose is for the loan when considering the approval. Depending on how the funds will be used, we may suggest a better option or may even advise against it. For example, you can’t take out a personal loan to fund the down payment on a credit union home loan. In that instance, we would help you look for other options.

What are the benefits of personal loans?

The main benefit of personal loans is their versatility. Personal loans, in most cases, can be used to pay for anything that may come up. While more specialized loans are designed to pay for things like homes, vehicles, and even medical expenses, personal loans can be spent on nearly any financial need you may have. Common uses for personal loans include consolidating your debt or credit card bills, paying for an unexpected expense (such as replacing an appliance in your home or getting emergency car work done), or even just funding a dream vacation. The other big advantage of personal loans is their flexible terms. Personal loans can be as small as you need, and offer the ability to borrow the exact amount you need. This can come in handy when the expense isn’t big enough to warrant a larger loan, and can offer you much greater flexibility in how much you borrow and when it needs to be repaid.

Can you refinance a personal loan?

By refinancing a loan, you use a new loan at a lower interest rate to pay off an existing loan, costing you less money in the long run. If you have a personal loan already but you’re having a hard time paying it off due to high interest rates, Genisys may be able to help you refinance your personal loan and save you money!

How will a Personal Loan affect my credit score?

A personal loan will show on your credit report and be listed simply as an unsecured closed-end loan. This loan will not affect your credit score any differently than opening up a secured loan for the same amount and term (i.e. a car loan). If you open a personal loan as a form of debt consolidation, there are a few steps to be aware of that may affect your score. Closing all credit cards at one time may bring your credit score down. Two things that affect a person’s credit are the available amount of credit and the age of the oldest credit account established. If these credit lines were to be closed to zero all at once, your credit score might go down. If possible, it would be best to gradually close the cards in order from newest line of credit to the oldest line of credit. Keeping the oldest line of credit open, even with a zero balance, shows creditors that you have been responsibly managing this credit line for several years. This will help maintain or even increase your credit score.

How is a Personal Loan Rate determined?

Just like most loans, the rate is first and foremost based on your credit score. Since personal loans are typically unsecured, that will make the rate higher than collateralized loans like auto loans or mortgages. The amount being borrowed and the term of the loan can also be factors in the rate of your personal loan. A fixed rate credit union personal loan usually has a lower rate than a credit card. A credit union personal loan from Genisys Credit Union is an unsecured loan, meaning that collateral (like a car or some other tangible piece of property) is not required for approval.

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