Loan vs. Line of Credit
Loans and lines of credit each offer unique benefits. Find out which type of financing will help you carry out your plans best.
| Features | Personal Loan | Personal Line of Credit |
|---|---|---|
| Funds available in simple lump sum | Yes | No |
| Funds available anytime without reapplying | No | Yes |
| Revolving credit – as principal is repaid, more becomes available for use | No | Yes |
| Ideal for short-term or one-time needs | Yes | No |
| Ideal for ongoing or seasonal needs | No | Yes |
Secured vs. Unsecured
Secured
- Use your Capitol Credit Union savings or certificate of deposit as collateral
- Enjoy lower interest rates
- Secured savings continue to earn dividends
- Safe, simple way to build your credit
Unsecured
- No collateral necessary
- Competitive interest rates
- Ideal option when you need cash fast
Account Details
- Competitive rates for a wide variety of personal needs:
- Vehicle repairs or updates
- Family vacation
- Education expenses
- Personal projects or startups
- And more
- Secured and unsecured options available
- Term loan and line of credit options available
- Repayment terms customized to fit your needs
- Local Central Texas decision-making and processing
- Attentive, friendly service from start to finish
Protect Your Loved Ones from Debt
Capitol Credit Union Credit Life & Disability Insurance provides peace of mind — for you and your family — in the event you cannot pay off your loan.
