COVID-19 Updates - Important information regarding branch & service availability, remote banking options, resources for financial hardship, and more: Click Here

UMassFive has been approved to be a lender of the SBA's Payroll Protection Program (PPP) as a part of the recently passed 2020 CARES Act, and will be eligible to process PPP loans through the SBA's loan delivery system as soon as this system is made available to us. Please email our Commercial Services Division for additional information.

Personal & Specialty Loans

purple
Hero Default

A Loan for Every Occasion

 

At UMassFive, we get it. Every situation—every member—is unique. That's why we have created a wide range of specialty loans, so we can meet your individual needs. 

From computer loans, to loans meant to build your credit, we've got you covered.

blue

Icon depicting a hand holding a coin

Personal Loans

Personal loans have a fixed monthly payment that can be used for a wide variety of borrowing needs.

  • Competitive rates
  • Fixed monthly payment
  • 48-month max term
  • $15,000 limit

Learn More

Icon depicting a hand holding a revolving line of credit.

Personal Line of Credit

Payment is recalculated each month as a percentage of the outstanding balance.

  • Competitive rates
  • Revolving max term
  • $25,000 limit

Learn More

Icon depicting a rising credit score

Credit Builder Loan

Loaned funds are immediately deposited into the member's Primary or Secondary Savings Account, and placed on hold for the duration of the loan. Once the loan has been repaid, the hold is removed, and the funds are made available to the member

  • 48-month max term
  • $1,000 limit
  • $25 minimum monthly payment

Learn More

Icon depicting a laptop and microchip technology

Computer & Technology Loan

For the financing of phones, desktop computers, laptops, tablets, & all associated accessories. (printers, routers, etc.)

  • 48-month max term
  • $15,000 limit
  • Special discounted financing available for students and employees of the Five Colleges, through our Five College Computer & Technology loan program

Learn More

Icon depicting a shield with a cash symbol on it.

Share Secured Loan

A Share Secured Loan is guaranteed by the balance in your Savings Account (Basic, Money Market, or Term Share Certificate). Your savings balance must be equal to or greater than the amount loaned, and any loans that are secured by a Term Share Certificate must be repaid before the certificate matures. Funds used as collateral for the loan will be placed on hold for the duration of the loan's term.

  • Immediate disbursal of funds upon signing the loan documents
  • Max loan amount is equal to the available balance in the specified Savings Account
  • 120-month max term
  • $25 minimum monthly payment
  • APR for all Share Secured Loans are calculated at 3% above the annual percentage yield (APY)

Learn More

Icon

Debt Consolidation Loan

With flexible options for repayment, a Debt Consolidation Loan is the perfect solution to paying off other higher-interest debt.

  • 36 month max term

Learn More