Personal Lending
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Personal Loans
Fast Access to Funds with Low Monthly Payments
Debt consolidation, major life events, vacations, or whatever else life throws your way.
Current Personal Loan Rates
Loans with Real Member Benefits
Quick Access to Cash & Low Monthly Payments
We understand life on Long Island can come with all types of surprises. Our Personal Loans were designed to provide our Members with quick access to funds for whatever life throws their way. Whether you're looking to pay off high-interest credit cards, fund a major life event, cover home renovations, or anything else, Island Federal is here to help.
Secured vs. Unsecured: Two Ways to Borrow
At Island Federal Credit Union, we offer both secured and unsecured personal loans. Secured Personal Loans allow you to borrow against funds you have on deposit with Island Federal, so you can pay for major expenses while your savings continue to grow. Secured loans provide our lowest interest rates, making them a smart way to borrow. Unsecured personal loans allow you to borrow up to $25,000 without needing collateral. Although the rates may be slightly higher than secured personal loans, they're typically a far more cost-effective way to pay expenses than high-interest credit cards.
Expert Guidance with Your Best Interest at Heart
Remember, Island Federal is a Member-owned credit union, not a for-profit bank. When you speak with an Island Federal representative about the best borrowing options for you, you'll know we only have your best interests in mind—not Wall Street's. Book an appointment to speak with an Island Federal representative and learn how much you can save with Island!
Looking for a Personal Loan on Long Island?
Island Federal Credit Union offers flexible personal lending options designed specifically for Long Islanders. Whether you need an unsecured personal loan for everyday expenses or a secured personal loan with even lower rates, Island Federal provides competitive terms, affordable monthly payments, and a straightforward application process. As a not for profit Long Island credit union, we put Members first, not a stock price, allowing us to offer some of the lowest personal loan rates and repayment options in Nassau and Suffolk County. From consolidating high interest debt to covering major life expenses, Island Federal personal loans give you a smarter local alternative to big banks and online lenders helping Long Islanders borrow with confidence.
Hear From Our Proud Members
“Our family has had our accounts with Island Federal since they opened their Bellmore location and they make us feel like we’re their family. Everyone is very friendly and makes our banking experiences pleasant and easy. Their loan rates are very competitive.”
Trish T.
Bellmore
“The staff at the Bellmore location was great. I came in for a personal loan and he was very informative of my options including a Home Equity line.”
Simone D.
Bellmore
“The branch staff have made working with IFCU such a breeze. They were great to communicate with and so prompt on responding. They were able to get my loan completed and processed within a day! Thank you so much!”
Steffany S.
Selden
Frequently Asked Questions
How long does it take to get approved?
Some borrowers may receive an instant decision when applying for a personal loan in-branch and online applications typically received a decision same day. Other borrowers may be required to submit supporting documentation, in which decisioning is typically made within 1 business day.
Once I accept the loan, how fast can I receive the funds?
You can receive the funds same day.
What is the difference between a secured vs. unsecured personal loan?
A secured personal loan is backed by collateral, specifically, funds you have on deposit with Island Federal. An unsecured personal loan doesn’t require any collateral.
What is the most I can borrow with a personal loan?
Members may borrow up to $25,000 through unsecured personal loans, subject to creditworthiness and repayment ability. Secured personal loans have no maximum loan amount and are also subject to creditworthiness and the borrower’s ability to repay.
What can I use a personal loan for?
The uses for a personal loan are almost endless. Personal loans are a great way to pay off high interest credit cards, pay for home renovation projects, fund a wedding or major life event, or even pay for a vacation.
How can I apply?
Applying for a personal loan with Island Federal is quick and easy. Click here to apply online or visit your local branch to apply in minutes
Disclosures
*APR = Annual Percentage Rate. Rates effective 04/06/2026 and subject to change without notice May be offered credit at a higher rate with other terms; subject to credit approval and can change without notice. Maximum loan amount available for unsecured personal loans = $25,000. 1APR offered on Certificate Secured Personal Loans will consist of the listed APR on the certificate plus a disclosed margin, rounded to the nearest quarer percent (0.25%) Membership eligibility applies.