Loans to help with Debt Relief
Explore the products that River City FCU offers to help you reduce debt and establish financial health.
Managing debt can feel overwhelming, and it often leaves individuals and families eager to find solutions that will work, such as debt relief loans. At River City FCU, we understand the burden that debt presents, both as a daily stressor and as a roadblock to your life dreams. This is why we’re pleased to offer you several debt relief loan options to help you navigate debt and build towards a sound financial future.
What Is a Debt Relief Loan?
Debt relief loans usually work by providing you with a lower interest rate than your existing high-interest debts, minimizing the total amount owed over time.
Debt relief strategies also include other forms of refinancing or consolidation to make repayment simpler or faster. For example, debt consolidation is a debt relief strategy in which you combine your debts into one single payment rather than keeping track of multiple debts.
Depending on your specific situation, certain debt relief strategies may be a bitter fit than others. Your amount of debt, your need for emergency funds, or your credit score are all factors that could determine which debt relief path makes sense for you. For this reason, River City FCU offers you various debt relief loan options with flexible terms, so you can choose which one best meets your needs.
Debt Relief Loan Options: 3 Ways to Minimize Your Debt
River City FCU offers three products that may function as a debt relief loan to help you develop a strong financial journey. Below is a breakdown of these three options.
Signature Loan
Signature Loans enable you to cover small or large expenses and debts. Our Shared Secured Loan also guarantees a lower interest rate loan.
Flexible terms and competitive rates
No collateral necessary
Unsecured loan
Rates
| Signature Loan | APR* |
|---|---|
| 0 to 24 Months | |
| 25 to 36 Months | |
| 37 to 48 Months | |
| 49 to 60 Months |
*APR stands for Annual Percentage Rate as of July 18, 2022 and subject to change without prior notice. Rates shown are the lowest available for each term listed. All loans subject to approval, your rate may be higher based on credit performance. Rates apply to new Signature Loans or loans refinanced from other institutions.
Ready to eliminate your debt with a lower interest rate? Apply now for a Signature Loan.
MyCash PAL
MyCash PAL (Payday Alternative Loan) is a short-term loan providing you with immediate funding upon approval. Consider using MyCashPAL if you’re low on cash or have an urgent need for funds.
No credit checks (additional requirements apply)
Short-term loan with up to 12 months to pay back
Borrow as little as $250.000 or as much as $1,000.00
$20 application fee (non-refundable)
Fast and contactless application (product available online only)
Immediate funding upon approval
Available 24/7
Rates
| Term | APR* As Low As |
|---|---|
| Up to 6 months | 28.00% |
*APR means Annual Percentage Rate as of January 1, 2023, and is subject to change without prior notice. Member must pay their current MyCash PAL in full before getting another MyCash PAL. Member cannot have more than 3 MyCash PALs within a 6 month period.
Have an emergency need for funds? Apply now for a MyCash PAL to pay down your debt fast.
Line of Credit
A Line of Credit is a secured loan that is connected to your Checking Account. With a Line of Credit, you only pay interest on the funds used.
Competitive interest rates
No interest payments required if the line is not used
Provides automatic overdraft protection on your Checking Account
Requirements
Available for Primary Account Holders only
Applicant must have a direct deposit of at least $625 per month, setup in their River City FCU account (loan payments are automatically debited from the selected deposit account)
Must be a member of River City FCU
All River City FCU accounts associated with borrower SSN must be in good standing
Maximum of 1 MyCash PAL at a time (no more than three within a 6-month period)
Rates
Rates shown are the lowest available for each term listed. All loans subject to approval, your rate may be higher based on credit performance.
Rates apply to new Signature Loans and Lines of Credit, or loans refinanced from other institutions.
Loan rates are in effect as of January 1, 2023, and subject to change without prior notice.
Access money right when you need it as you reduce your debts. Apply now for a line of credit.
Our goal at River City FCU is to make your financial goals possible. Debt can feel like a major obstacle in the way of your goals, but with our affordable, sensible debt relief loans, you can achieve financial security that lasts.
Need something else?
River City FCU has been committed to helping our community in San Antonio since 1936. Whether you would like to get started with financial counseling, opening a savings account, or exploring our personal loans, we would be happy to help.
If you have any questions about our debt relief options or would like to learn more, please call us at (210)-225-0708 or visit us online at www.rivercityfcu.org.