Personal Loans
We now offer Personal Loans up to $20,000. Any member who has five years of work experience or is retired will not need a co-maker if the applicant has a debt-to-income ratio of 45% or less (including the proposed loan obligation) and if they have good credit. Loan amounts will be granted based upon the applicants work experience. Contact the Credit Union for further information regarding terms and conditions.
| Personal Loans | ||
| Work Experience | Maximum Amount | Repaid Within |
| 5 Years | $10,001 to $20,000 | 8 Years |
| 4 Years | $10,000 | 8 Years |
| 3 Years | $7,500 | 8 Years |
| 2 Years | $5,000 | 8 Years |
| 1 Year | $2,000 | 8 Years |
| 6 Months | $ 500 | 8 Years |
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Fully Secured Loans
Loans are available at low rates which are secured by your savings account balance. These loans can run for up to ten years with the shares restricted to the existing balance of the loan.
Tuition Loans
This program will help members with tuition expenses from Kindergarten through Graduate school at accredited educational institutions. The maximum loan amount is $25,000. Maximum loan term is 8 years. Members will need to submit a recent paystub and copy of a tuition invoice along with the loan application. One year’s current work experience is also required. Contact the Credit Union for further information regarding terms and conditions.
Vacation Loans
Pack your bags! City of Boston Credit Union's vacation loan can help with the expenses of that much needed vacation. The maximum loan amount is $2,000, with a maximum term of 12 months. Must have one year's current work experience is required to apply. Contact the Credit Union for further information regarding terms and conditions.Membership requirements
Contact the Credit Union for further information regarding membership requirements for specific loan products. As always, emergency loan requests can be forwarded to the Credit Committee.
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