- Save money by combining multiple loans into one payment
- Simplify your monthly budget with just one payment to make every month
- Loan amounts tailored to your personal situation
- Lower rate helps pay off debts sooner
- Streamlined process
- One local relationship for easier debt management
Check out our current rates to learn more!
What could a debt consolidation loan look like for you?
Monthly Payments Before Consolidation Loan |
Monthly Payment After Consolidation Loan* |
Credit Card
Department Store Credit Card
Finance Company
Total Due
|
$130.00
$80.19
$230.00
$440.19
|
Pelican State CU Loan Payment
|
$283.67
|
Total Savings of $156.52 per month! |
Monthly Payments Before Debt Consolidation Loan |
Credit Card
Department Store Credit Card
Finance Company
Total Due
|
$130.00
$80.19
$230.00
$440.19
|
Monthly Payments After Debt Consolidation Loan |
Pelican State CU Loan Payment
|
$283.67
|
Total Savings of $156.52 per month! |
Curious about when it makes sense to get a debt consolidation loan? Find out on this episode of #AskPelican:
*Pelican State CU membership required to close a loan with Pelican. If you are not a Pelican member, you must be eligible to open a Primary Share account with Pelican to become one. The deposit to open a Primary Share account starts at a minimum of $10 ($5 to join + $5 minimum balance). Credit approval is based on certain credit criteria and credit worthiness. Scenario listed above is just an example, and savings/rate/amount and term will vary for each member and savings are not guaranteed. The payment examples listed above were calculated as follows: 2% of Credit Card balance of $6,500; 2% Department Store Credit Card balance of $4,009.54; Finance company has a rate of 36% APR, a term of 18 months, and a balance of $3,163.31. The consolidated payment of $283.76 was calculated with a rate of 8.99% APR, a term of 60 months, and balance of $13,672.85. Not everyone will qualify for the advertised APR. APR = Annual Percentage Rate. Estimated payment may vary if credit protection products are added to loan. Applicant will be charged $5 for any loan application that is denied, withdrawn, or expired. Restrictions apply. See a Pelican representative for details.