Debt Consolidation Options
If you’re up to your eyeballs in debt, the one thing you may wish for more than anything else is a blank slate. If you had a chance to wipe your slate clean and start over, things would be different. Of course, barring a winning lottery ticket, nothing is going to make that much of a change overnight. At MFCU, we offer different personal lending products for different needs, including refinancing your existing debt.View Rates
Unsecured Personal Loan – This loan requires no collateral, meaning a house or car. That’s why it is called unsecured. The rates are higher than a secured loan, but the process to get an unsecured loan is typically easier and the loan management remains in-house at MFCU. Using a personal loan to refinance your existing debt can make your debt more manageable. You’ll have one monthly payment at one interest rate instead of many smaller bills due on different days of the month.
HELOC – The Home Equity Line of Credit, or HELOC, allows you to open a line of credit with spending limits based on the value of your home. The benefit of a HELOC is that you have funds available but you only pay interest on what you spend.
Home Equity Loan – Similar to the HELOC, the Home Equity Loan is based on the value of your home, but is paid out in one-lump sum with a fixed interest rate. This loan is ideal if you know exactly how much you need to pay down your debt.
Share Secured and Certificate Secured Loans – You may apply for a loan that is secured by the funds in the your share or certificate account at MFCU. A member may borrow up to 100% of the amount on deposit in their share or certificate account. For more information, please don’t hesitate to contact us.
Financial Coaching, Free to Members
Missoula Federal Credit Union is proud to have a local Certified Financial Counselor dedicated to providing counseling at no cost to our membership, including:
- Debt consolidation solutions
- Assisting with stressful financial situations before credit problems arise
- Exploring a viable alternative to bankruptcy.
- Empowering you to gain control of tough financial situations.
Debra Casper received her certification from The Certified Credit Union Financial Counselor program and Credit Union National Association, Inc. in 2007. She has 15 years of experience in the lending department of Missoula Federal Credit Union, where she gained a wealth of experience with a wide range of financial situations. Debra understands the stress and emotions that go along with the financial decisions our members face and works to create a safe and comfortable environment to help you work through those decisions.
Debra Casper is a Certified Financial Counselor. She received her certification from The Certified Credit Union Financial Counselor program and Credit Union National Association, Inc, on March 15, 2007. Debra has 15 years of experience in the lending department of Missoula Federal Credit Union, in which she has gained experience with a variety of financial situations. Debra understands the stress and emotions that go along with the financial decisions our members face and works to create a safe and comfortable environment to help you work through those decisions.