Personal Loans
Boost Your Budget
We can help you consolidate multiple loans to reduce your monthly payments or pay off debt faster. Need extra cash? A personal loan with us could help you affordably finance your summer vacation, home furnishings or repairs, tuition, medical expenses and more. We also offer StretchPay short term loans if cash is tight and payday is too far away. Choose the loan option that fits your needs and financial plans.
Get the Money You Need, When You Need It
We’ve made getting a personal loan quick and convenient. Apply online today to take advantage of
- Up to 72-month terms
- Loans from $1000 up to $25,000
- Competitive Fixed Rates*
- Use our Loan Calculator to estimate your payments
Sometimes There’s Too Much Month and Not Enough Money
Our short-term loan called StretchPay makes it easy to qualify1 and can help you save money by avoiding the high rates and fees of payday lenders or check cashing outlets.
- Can help build strong credit
- Low 18% APR2 – saving you money compared with the high rates and fees of payday lenders or check cashing outlets
- Small annual enrollment fee
$35 for a $350 loan limit
$70 for a $500 loan limit
$120 for a $750 loan limit - Borrow as often as you want up to your loan limit3. No additional fees, paperwork or hassle.
Boost Your Credit Confidence with our Credit Builder Program
No matter where you are on your credit journey, our credit builder loan program can help you establish or boost your credit profile in just two simple steps. Both have affordable monthly payments and could give you the opportunity to boost your credit performance. With 12 months of on-time payments, the secured funds will be released and available to you.
1st Step
- $1,000 Personal loan – Reported to the credit bureaus
- Deposit the funds to your savings account
2nd Step
- Share Secure Credit Card – Reported to the credit bureaus
- Choose between a $500 limit or $800 credit limit**
For more information contact one of our Loan Advisors at 202.789.2901 option 3.
Skip Out On Stress
Skip out on stress and choose to skip your loan payment ANYTIME through the year. Qualified members may opt to skip 2 monthly or 4 biweekly loan payments anytime this year for only $30*** using our Self-Service Skip A Pay!
Available anytime and can be accessed through your online and mobile banking.
Skip A Loan PaymentPayment Protection
Are your loans protected in the event of an unexpected life event, such as disability or death? Adding our affordable Debt Protection coverage to your eligible loans can help reduce or cover your loan payment should the unexpected happen.
Contact Our Lending Team to Learn More
*As an example, a loan for a member with excellent credit of $10,000 at Annual Percentage Rate (APR) of 7.49% for 36 months results in a monthly payment of $311. Your APR may be higher and is based on your credit and loan terms. Loan approval & processing is based on standard loan underwriting guidelines. Not all applicants will be approved. Equal Opportunity Lender.
1Certain restrictions apply. To qualify, you must be a member of Labor CU for at least 120 days, have direct deposit of income, have no delinquent Labor CU accounts, and not be in the process of filing for bankruptcy. 2APR=Annual Percentage Rate. Finance charges on a 30-day $500 StretchPay loan are $7.40. Loan fee for commercial payday lender charging $15 per $100 borrowed is $150 for $500 borrowed over two 14-day terms. 3Advances must be paid in full prior to additional advances. Other conditions apply. If eligible for overdraft privilege the limit will be reduced by the limit of the Stretch Pay not to exceed an aggregate limit of $1,000. Example: A member with a Stretch Pay Loan limit of $350 will have a maximum ODP limit of $650 if the account qualifies for this privilege.
**Certain restrictions apply. To qualify members must have a valid SSN or ITIN Number in the US. Qualifications, Terms and Rates based on qualifying criteria such as income and credit determined at the time of opening. See MasterCard disclosure.
***Certain restrictions may apply. A one-time $30 fee is deducted from your account for each monthly loan payment you skip. To cover the fee, sufficient funds must be available at the time of request. Payments on first and second mortgages, home equity, holiday and stretch pay loans are excluded from this promotion. Not all loans may qualify. You must have had the loan for a minimum of 12 months. The loan must not be more the 30 days delinquent to qualify. By skipping any loan payment(s), you extend your loan payment by one month or by two biweekly payments. Maximum of 2 skips allowed in 12 months. Maximum of 5 skips per life of the loan. Loan payments resume on the next due date after the skipped payment. No back to back skips. Interest will continue to accrue on your loan(s). Deferring the payment on your auto loan may impact the amount of your GAP settlement if a claim is submitted for this loan. Contact us for specific details concerning your loans.