Consumer Loans

We make our loans convenient for our members with competitive rates and flexible terms. In most cases, once all required documentation is received, a loan decision is made within 24 hours.  Required documentation may include recent pay stubs, a
W-2, or other proof of income per applicant. Vehicle loans require a bill of sale or buyer’s order.  We can also refinance eligible loans from other financial institutions.     Apply in person, by fax, by mail, or online. Debt Protection and GAP Insurance are available for our consumer loans.  These products are optional and do not affect your loan approval.  All loans are subject to credit approval.

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New Vehicle - Get Preapproved!

Is there a dream car, truck, or motorcycle out there for you? We can help you get it! When buying a new vehicle, it's easy to get caught up in the excitement and forget about getting the most for your money.  We can help you stay on track with a loan preapproval.  You can walk into the dealership armed with your rate and a payment that is convenient to your budget. For qualified applicants, financing is available up to 100% of the vehicle’s MSRP (sticker price), with terms up to 84 months. Any amount above MSRP must be paid out-of-pocket or financed separately.

Used Vehicle - Get Preapproved!

For qualified applicants, financing is available up to 100% of the vehicle’s current retail value as determined by J.D. Power. Any amount above the determined retail value must be paid out-of-pocket or financed separately.  Check J.D. Power Values.  This also includes refinancing a vehicle loan that you have with another institution.  Vehicles must have a clean title. Salvaged or rebuilt titles are not eligible.

Recreational Vehicle

Whether you're cruising the open road, off-roading in the woods, or fishing on the lake, we have the loan for whatever moves you.  Get your new or used boat, camper, motorhome, and ATV loans with WCTFCU.  Financing is available for qualified applicants. Terms and conditions apply.

Personal

You can use a personal loan for debt consolidation, a special vacation, and more. Personal loans are unsecured and based on your promise to repay.  You can borrow up to $5,000 with your signature and up to $10,000 with the addition of a co-maker’s signature. 

Share Secured

A great option for members who need access to funds but prefer not to withdraw their savings. Use your WCTFCU share savings account as collateral while continuing to earn dividends.

Because the loan is secured by funds on deposit, rates are typically lower than unsecured personal loans. The pledged funds must remain on deposit until the loan is paid in full.

WCTFCU Continuing Education Loans

A 0% Continuing Education Loan from WCTFCU is ideal for WCPS employees working on their post-secondary educational credits, certifications, and/or degrees*.  Loan funds can be used for educational costs such as tuition, fees, and books.  The maximum term of six (6) months allows you to put your reimbursement check towards the payoff of the loan.  Payments as low as $50 a month ($24 biweekly) are made throughout the term of the loan.  Payments are calculated based on the amount borrowed above the projected reimbursement from your employer.  With proof of tuition and fees, we will loan up to $1,500 per course.  Payment for tuition and fees will be made directly to the school and excess will be issued to member for payment of book expenses.

• 0.00% APR
• Terms of up to 6 months
• Low payments throughout the term and lump-sum payoff at the end of the term with reimbursement check from employer
• Minimum loan amount $500
• Maximum loan amount $1,500 per course
• No prepayment penalty

*Must be a WCTFCU member to take advantage of our Continuing Education Loan.  Minimum credit score for eligibility is 600.  As monthly payments are based on projected reimbursement check from employer, your Continuing Education Loan payoff balance may be more or less than your reimbursement check.  Any balance not paid in full by the end of the term will convert to a WCTFCU Personal Loan at the prevailing rate and future Continuing Education Loans may not be approved.

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Use our Online Loan Calculator to estimate the payments over the term of your loan.

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Student loans for all types of students.  Get the money you need for school.  Student loans from WCTFCU in partnership with Sallie Mae® could help! 

Whether you're an undergraduate, career training, or graduate student these flexible student loans are designed to meet your needs:

• Competitive interest rates
• Multiple repayment options
• No origination fees; no prepayment penalty¹

Smart Option Student Loan^® for undergraduate and career training students

Plus, the graduate loan suite is designed to meet the needs of students in specific fields of study.

Find out which loan is right for you!

Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college.  Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

These loans are made by Sallie Mae Bank.  WCTFCU is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.

Applications are subject to a requested minimum loan amount of $1,000.  Current credit and other eligibility criteria apply.  Click here for additional eligibility information about each product.

¹Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note - first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

© 2024 Sallie Mae Bank.  All rights reserved.  Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank.  All other names and logos used are the trademarks or service marks of their respective owners.  SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.