Debt Consolidation Loan

Simplify your finances a Debt Consolidation Loan


  • Pay Less Interest
    Pay Less Interest

    Ditch high interest credit cards for one loan
    with a great rate

  • Simplify Your Finances
    Simplify Your Finances

    Enjoy having just one loan at a fixed rate

  • Get out of Debt Faster
    Get out of Debt Faster

    Ditch revolving credit cards for a term loan

Debt Consolidation Loan 
Interest Rates as low as:

7.99% APR*

Borrow up to $30,000 today to pay off
credit cards and other high interest debts.

Easy repayment with terms up to 60 months.


*Rate valid as of 7/1/2022, and subject to change without notice.  Rate is based on creditworthiness.  Not all members will qualify for the lowest rate.  Max. loan amount is $30,000.  Max. term is 60 months.  At 7.99%, repayment schedule is 60 monthly payments of $20.27 per $1,000 borrowed.

The Debt Consolidation Loan at Adventure Credit Union was designed with you in mind!  We want to help you live a better financial life in Grand RapidsLansing and other parts of Michigan.

Benefits of Consolidating Debts:

  • Pay less interest: When you have credit card debt, you're likely pay high interest rates.  The average credit card rate in the United States is currently 16.13% APR*.  Our Debt Consolidation Loan features a fixed interest of just 6.99% APR.**  Having a lower interest rate means that more money from each payment goes towards the principal balance owed, and less towards interest charges.

  • Pay off debt faster: Credit cards are revolving lines of credit.  Each month, a credit card statement tells you the minimum amount due, and your total balance.  When you opt to make only the minimum monthly payment, you're (usually) paying a percentage (e.g., 2% to 4%) of the balance outstanding.  Over time, as your balance goes down, so does your minimum monthly payment.  This payment model makes it take a long time to pay off your balance in full.
    Our Debt Consolidation Loan has a predefined term of your choice, ranging from 12 to 60 months.  Each month, you'll pay an equal installment of your original loan amount.  This means your monthly payment will always be the same, giving you consistency in your budget, and paying off your balance faster.  From day one with your Debt Consolidation Loan, you'll know when it will be paid in full.  Plus, you're welcome to pay off your loan early without any penalties.

  • Lower monthly obligations:  While not guaranteed, it is possible that consolidating multiple debts into one Debt Consolidation Loan could actually result in a lower monthly payment.  Our Trusted Financial Guides can look at your unique situation once your application is submitted.

  • Simplify your finances: According to Experian, Americans have four credit cards on average***.  That potentially means four different balances, four different interest rates, and four different payment due dates.  To further complicate matters, credit cards often different fees and penalty APRs if a payment is missed.  You can simplify your finances by consolidating all of your credit card debts into one loan with a fixed interest rate.

 

*Accurate as of 12/15/2021.  Source: Creditcards.com

**APR = Annual Percentage Rate. Rate valid as of 1/1/2022, and subject to change without notice.  Rate is based on creditworthiness.  Not all members will qualify for the lowest rate.  Max. loan amount is $30,000.  Max. term is 60 months.  At 6.99%, repayment schedule is 60 monthly payments of $19.80 per $1,000 borrowed.

***Accurate as of 4/8/2021.  Source: Experian.com

If you are not yet a member of Adventure Credit Union, you are still welcome to apply for a Debt Consolidation Loan.  If your loan application is approved, you will need to join the credit union before your loan can be disbursed.  Don't worry, we'll walk you through the process, and it only requires a $5 deposit to your new share account.

Adventure Credit Union is open to anyone who lives, works, worships, or attends school in the following counties: Allegan, Barry, Clinton, Eaton, Ingham, Kent, Livingston, Newaygo, Ottawa, and Shiawassee.

Have questions for us?  Click the "Chat with Us!" button between 9am - 5pm, Monday - Friday.  Or call us after-hours at 800.323.2129.


Who is Adventure Credit Union?

Simply put, we're like a bank but better!  Like a bank, we offer financial services: loans, mortgages, savings accounts, checking accounts, and more.  Unlike a bank, we're a not-for-profit organization owned by our members.  This means, we work in the best interest of our members (i.e., accountholders) rather than investors.  Our non-profit status allows us offer low interest rates on our Holiday Loans and keep our account fees to the bare minimum.  When you open a share account with Adventure Credit Union, you'll never be charged a minimum balance fee or an account maintenance fee.

 

How do I join?

If you are seeking a Debt Consolidation Loan, we suggest following these steps.

  1. Apply for your Debt Consolidation Loan
  2. Wait for us to respond via email
  3. We'll walk you through opening your new membership

Even if your Debt Consolidation Loan application is denied, you're still welcome to apply for membership at Adventure Credit Union.

Apply Now

Remember, non-members are welcome to apply for a Debt Consolidation Loan before joining the credit union!