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Unsecured & Other Loans

These fixed-rate, unsecured loans are designed for members with good or even less than perfect credit histories. You may take a personal loan for any of the following purposes:

  • Payoff high rate loans or credit cards
  • Perform home improvements or repairs
  • Pay for vacation expenses
  • Repair or upgrade your vehicle
  • Any other purpose

Those with good credit and finances will receive our lowest interest rate, but loans are also available to those with little or no established credit history. The maximum loan may be as high as 18% of your annual income, based on your credit. The maximum loan available is $25,000; the minimum loan required is only $300. Repayment terms of up to 60 months are available (depending on the loan amount). There are no application fees or pre-payment penalties. If you apply online you will receive a 0.10% rate discount (subject to our minimum rates).

We offer short-term Education and Computer loans.

  • Rates are 1% lower than our personal loan rates
  • Maximum loan of up to $3,000, minimum loan $500.
  • Repayment terms up to 18-months
  • ¼% rate discount for automatic payment
  • Repay by convenient payroll deductions, automatic account transfer, or by mail

To qualify for this special loan, you must use the proceeds for one of the following:

  • Payment for grade/middle/high school, trade school or college courses or expenses including tuition, books, miscellaneous school supplies & registration fees.
  • Purchase of a desktop or laptop computer, tablet, or other peripheral (excluding phones & game consoles).

Restrictions apply. Provide something in writing to confirm the purpose of the loan (such as a school bill, ad for a computer item, etc.) Funds are given directly to you.

Have little or no established credit? 

We offer personal loans even if you don’t have a credit score. 

Getting an established credit record and a good credit score will help you take the next step in getting a credit card, a vehicle loan, and eventually a home mortgage.

Your credit record can also affect your ability to get certain jobs and your rates for auto or homeowners insurance policies.

  • Loans of up to $1,000 available
  • No application fees
  • No credit score required
  • Co-signers are typically not required
  • Loan is reported to the credit bureau
  • Apply by telephone or online 

Questions? Contact a Loan Specialist at 800-410-0501 or at loans@lmfcu.org.

A Rediline Checking Overdraft Loan is an overdraft line of credit that is tied to your LM Federal Checking Account. Funds are advanced in $100.00 increments and are automatically transferred to your Checking Account when an overdraft occurs. The maximum line available is $5,000 and the minimum payment is the greater of $25 or 4% of the end-of-month loan balance. There is no annual fee. A small convenience fee is charged when automatic overdraft transfers are performed.

These loan options allow you to borrow against the funds in your credit union Share (Savings) Account or regular Certificate Account. You may borrow up to the available balance of your Share (Savings) Account and up to 95% of the balance of your Certificate Account. The minimum loan is only $500.00. The maximum loan is $100,000.00. No credit check is performed for Share or Certificate Loans.

A Share Loan is a great way to establish your credit history as the Credit Union reports share loans to the Credit Bureau.

Note: Individual Retirement Accounts may not be used as the basis of a Certificate Loan because of their tax-deferred status.