HPAL Tip of the Week:
Consider a loan to fund last-minute summer vacations.
Before you pull out the plastic, you might want to explore some alternative ways to fund your trip that don’t include double-digit interest rates. Vacation loans will often come with a higher interest rate than other loans, but some recent rates have been as low as 9.90% APR at some credit unions, which – as not-for-profit financial service providers – often offer lower rates. Vacation loans can have restrictions, such as a 36-month term or $10,000 limit. The rate won’t beat your home mortgage, but it will probably beat your credit card.
You are encouraged to use these weekly tips on your website, social media pages or in other communication with your members to illustrate one more way credit unions help people afford life. If you have a tip you would like to share with the HPAL Listserve, please email to firstname.lastname@example.org. When sending an email it is sent to everyone on the list.