Personal Loans

Affording life’s smaller financial necessities often can be more challenging than managing the bigger ones. At Mass Bay, we don’t believe our Members should pay unnecessarily high rates to handle things like tuition payments, vacations, holiday spending, debt management and other expenses that are part of everyday life. So while we think you will like our broad range of financing solutions, we know you will love our rates.

DEBT CONSOLIDATION LOANS

Consolidate your credit card balances or all of your debt into one loan with a manageable monthly payment. With our low rates and optional payroll deduction, you can pay off and get out of debt sooner, with less hassle and no need to worry about missing a payment.

PERSONAL UNSECURED LOANS

Borrow for almost any reason with terms up to 6 years. Your rate and dollar limit will be determined by your credit worthiness, but you can use the proceeds any way you like. It’s our most flexible financing solution and always offers a competitive interest rate.

CREDIT CARD RE-WRITE LOANS

Don’t like the payment you have now? Re-write it at a better rate and take up to 48 months to repay! Our Re-Write Loan gives you a low fixed-interest rate that will never increase and time to make the payments more manageable with your budget.

OPEN-END LOANS

Not sure just how much money you’re going to need? Our Open- End Loans give you the flexibility you’re looking for! Get approved for a maximum amount, and then draw what you need when you need it. You will only owe payments on what you actually draw out, minimizing your interest expense.

SHARE-SECURED LOANS

Secure your personal loan with funds in your Mass Bay savings account or CD, and you’ll reduce your interest rate dramatically. Use the proceeds for any purpose.

VACATION/HOLIDAY LOANS

Because we’re your credit union, we believe you should not have to pay a prohibitive interest rate just to take a vacation or spend during the holidays. With our special fixed-rate Vacation and Holiday Loans, you can borrow up to $7,500 and take a full 18 months to repay.

OVERDRAFT/LINE OF CREDIT

Have you ever accidentally miscalculated your balance? It happens to everyone at some point or another. With our overdraft/line of credit, you’ll be spared any embarrassment with a bounced check or declined debit card. Your approved credit line will be out there for you to use if you make a mistake, or if you just need some cash until payday.