- Personal Loans
What are personal loans?
Personal loans are loans that are approved without collateral based on credit worthiness. This loan allows you to borrow money on your signature although your Personal Loan may be subject to cross-collateralization. Examples: Personal Loan, Personal Line of Credit, etc. Click here to view the current interest rates. There is no minimum loan amount required for a personal loan.
- Personal Line of Credit
What is a Personal Line of Credit?
A Personal Line of Credit is a line of credit which allows you access to up to $20,000 based on credit worthiness and ability to repay. The line of credit can be used for any purpose. There is no annual fee for this type of loan and you only have to apply once. Personal Lines of Credit can also serve as overdraft protection for your Checking Account by automatically transferring money to your account if ever needed. Ordinary finance charges and an Overdraft Transfer Fee will be assessed to the checking account. You can access this loan through Audioline, Online Banking, by check, mail, or at any Delta Community CU branch.
For details on how to apply, click here.
How can I lower my loan limit?
To request your credit limit to be lowered, you will need to send the request using one of the following methods:
Online via the Secure Email
Mail your signed request to: PO Box 20541, Atlanta, GA 30320-2541 Attn Loan Servicing
Fax your signed request to 404-762-7539 Attn: Loan Servicing
Is it possible to pay more than the scheduled payment due on my Personal Line of Credit every pay period?
Yes, you may pay more than the scheduled payment due each pay period. We require a written authorization in order to perform this transaction. You can send this request to 404-762-7539 Attn: Loan Servicing or online using the Secure Email. If your payments are set up as ACH payments, your scheduled amount will still show the required payment, however the actual transfer amount will be as you have requested. If your payments are set up as auto transfer, the payment due will show the requested amount.
- Adding on to an existing loan
- If I want to add on to an existing loan, do I need to enter the total amount of the loan or just the amount I want to add on to that loan?
If you are applying for a limit increase for a personal line of credit or credit card, enter the total requested credit limit (including any existing current limit you are refinancing) and enter your current limit at "what is your present limit".
If you have an existing personal loan or vehicle loan with Delta Community CU and you would like to apply for additional funds, you will need to enter the Amount Requested as the dollar amount you need to borrow. A new loan will be created and your existing loan will be paid and closed. To request cash out on a vehicle, you must have equity in the vehicle and will be required to take a minimum of $500.
- Authorization to release loan information
- Why can't my loan information be given to the joint owner on my account?
Delta Community CU can release loan information with your signed authorization. A signed Loan Information Authorization form allows Delta Community CU to release information to a designated person. The designated person can get information on all consumer loans, Visa and Home Equity Loans. To revoke or change this authorization, the primary member needs to send a written notification.
- Change of rate if adding to an existing loan
If I am adding to an existing loan, will I get the same interest rate?
The option to add on to an existing loan is available with the Personal Line of Credit and our Visa Credit Card loans. The current rate will be applied to the loan and the addition at which you qualify. This rate could be higher or lower than your existing rate depending on current rate availability and your current credit worthiness.
You can apply online by logging into your Online Banking account and choosing Apply for a Loan or Credit Card under the Loans tab. You can also call us at 1-800-544-3328 or visit any of our branch locations.