The Year of the Personal Loan

You’ve probably been getting a lot of junk mail recently from companies that want to lend you lots of money – no strings (or house) attached. It seems that there is a growing demand for personal loans.

In fact, according to a new survey from Bankrate, 24 million Americans say they are likely to take out a personal loan this year.

This includes 10 million who say they are “very likely” to take one out.

Do you plan on taking out a personal loan this year?

Before you respond to one of those mailings, keep in mind that credit unions specialize in personal loans and usually can offer you the best rates available.

Many of those companies sending you junk mail charge very high interest rates for personal loans, but obscure this fact using slick marketing and promotions.

Credit unions, on the other hand, are honest, not-for-profit organizations that always offer you the best rates they can.

So, if you need a personal loan, go see your credit union.