Borrow from $1,000 up to $25,000, depending on your credit qualifications. Use the funds to consolidate eligible debt, manage an unexpected expense or cover an important purchase or life event.
Combine multiple eligible balances into one personal loan and one monthly payment.
Manage an urgent home repair, auto repair, medical bill or other unplanned cost without using your home as collateral.
Use your loan for moving expenses, a wedding, or another significant personal milestone.
Pay for minor renovations, repairs or upgrades that help improve your home.
For larger upgrades ($25k+), consider our renovation HELOC.
Finance a planned trip, large purchase or other personal expense.
With fixed rates, predictable monthly payments and no prepayment penalty, you'll know what to expect from application through repayment with a Quorum Personal Loan.
A Quorum membership and checking account are required for this loan. If you are already a member, log in to online banking to apply.
Follow these steps:
Log in: Log in to your account.
Apply: Select the Personal loan application to start your application. Be sure to review the terms and conditions before you hit submit.
Open a checking account: Once you’ve been approved, open a checking account.
As with any credit union, membership is required in order to take advantage of credit union products and services. At Quorum, membership is free.
Approval for membership does not guarantee approval for a Personal Loan.
Use the Quorum mobile banking app to stay connected to your finances. View your loan balance, make payments, transfer funds and manage your Quorum accounts securely from your mobile device.
A personal loan provides a lump sum of money that is repaid over an agreed-upon period with fixed monthly payments. Quorum Personal Loans are unsecured loans that can be used for eligible expenses such as debt consolidation, emergency expenses, home improvements, travel, major purchases and important life events. Rates are fixed for the life of the loan, helping make repayment costs more predictable.
Loan amounts vary from $1,000 to $25,000. The amount offered is subject to credit approval and underwriting requirements.
Rates start at 9.50% APR1. Personal Loans have a fixed APR and fixed monthly payment amount. Your actual APR will be determined based on your credit qualifications, loan terms and other underwriting criteria.
No. You may pay additional principal or pay off the loan early without a prepayment penalty.
A $25 late-payment fee may be assessed if a payment remains unpaid more than 15 days after its due date. A 15-day grace period applies before the fee is charged.
Yes. You must be a Quorum member before applying for a personal loan. If you are not currently a member, complete the membership application first. Membership approval does not guarantee loan approval.
Yes. If your loan application is approved and you do not already have a Quorum checking account, one must be opened before the loan can be funded.
Current members can apply through Quorum online banking. Nonmembers must first apply for membership and then submit a separate personal loan application through online banking.
Yes. Applying for a Personal Loan requires a hard credit inquiry as part of the underwriting process. Hard inquiries are standard for personal-loan applications and may affect your credit score.
Application and funding times may vary based on the information provided, verification requirements and completion of all loan conditions.
A Personal Loan may be used for eligible personal expenses, including debt consolidation, emergency expenses, home improvements, travel, major purchases and important life events. Loan use remains subject to Quorum's underwriting and lending requirements.
1Annual Percentage Rate (APR) as low as 9.50% available to qualified borrowers and is subject to change. Your actual APR will be determined based on creditworthiness and other applicable underwriting criteria. Minimum loan amount: $1,000. No application or termination fees. No prepayment penalty. Personal loans are unsecured. All loans are subject to credit approval.