Personal Loans & Lines of Credit

We support your goals with loan options and a line of credit.

Maybe you have a large expense or big plans you need to finance. Maybe you find yourself needing to build, or rebuild, your credit score. Wherever you are, South Carolina Federal Credit Union meets you there with affordable options.
Personal Access Lines of Credit
When you need funds to be available anytime, a Personal Access Line of Credit provides an affordable solution. Use this line of credit for large purchases, car repairs, education costs, or anything else.
  • Competitive low rates
  • No pre-payment penalty
  • Provides overdraft protection
Personal Loan
Borrow a lump sum of money to consolidate debt, pay for unexpected expenses, or purchase 4-wheelers and personal watercraft, such as a Jet Ski.
  • Borrow up to $25,000
  • Fixed interest rate means predictable monthly payments
  • Auto-pay available
Effective Date: May 20, 2024
Loan Amount APR*
$500 - $25,000 As low as 12.00%
Make informed financial decisions with helpful resources.
Frequently asked questions
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For all loan requests you will be asked to provide personal information:

  • Name of each applicant
  • Physical address (P.O. Box does not apply)
  • Length of time at address
  • Phone number
  • E-mail address
  • Social Security number
  • Date of birth
  • Income information
  • Name of current employer
  • Employer's address and phone number
  • Length of employment
  • Salary
  • Position held
  • Other applicable income (for example, retirement and/or pension)
  • Current mortgage or rent obligations
  • Name and phone number of nearest relative not living with you
  • Reason for loan application

To apply now, get started with an online loan inquiry, visit a local financial center or contact us.

Loan payment due dates are generally 30-45 days from the loan closing date. The payment due date is notated in your loan documents and agreed upon before disbursement of your loan. Due dates and loan payment amounts can also be viewed through Online Banking, Mobile Banking or statements.

A payoff quote is available for all loans and will include accrued interest and the daily per diem.
To obtain today's payoff or a 10 business day payoff quote for auto, boat, recreational vehicle, credit cards, or personal loans, visit a financial center or contact us. Any overage of your payoff will be deposited into your savings account or returned to you in an overpayment check.

For first mortgages, please contact Dovenmuehle at (877) 636-9534.

For second mortgages/HELOCs, please visit a financial center or fax your payoff request to our Fulfillment Operations Team at (843) 737-7400. The request must include:

  • Member name
  • Member Social Security number
  • Account number
  • Payoff (good through) date
  • Return fax number
  • Copy of a signed authorization of release form from member requesting this information.

Once payoff is given, personal access line of credit loans and HELOCs will be locked and no advances can be taken.

Our loans are calculated with simple interest, the calculation of daily accrued interest on your principal loan balance.

Simple interest is calculated and assessed by multiplying the account’s current principal amount (and only the principal) by the interest rate. But as you pay down your principal with each monthly on-time payment, that principal decreases, lessening the interest assessed. If you pay more than the minimum required payment, the principal will decrease even more.
For example, a $25,000 loan at a 7% interest rate would be calculated using the formula (Principal Balance x rate)/ 365 days:

  • $25,000 x 7% = $1,750
  • $1,750/365 days = $4.80 per day
Your actual rate will depend on your creditworthiness. Rate and terms subject to change without notice.