Balance Transfer Loan

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Balance Transfer Loan

Consolidate, then eliminate

your credit card debt!

Are you carrying credit card debt?  If so, you're not alone!  37% of U.S. households carry credit card balances from month-to-month that they are unable to pay-off.*

If you're serious about getting out from under your credit card debt, our Balance Transfer Loan may be a good option for you.


Loan Features

  • Borrow between $1,500 and $30,000 to pay-off credit card balances or other consumer debts
    • You provide current statements & we'll send checks directly to your creditors
  • Take up to 60-months to repay
    • Optional payment deferral; make no payments for the first 60-days!
  • Interest rates start as low as 6.99% APR**
    • That's roughly half the national average for credit cards***
    • Interest rates are fixed for the life of the loan
    • No penalty interest rates
  • Automatic payments required for loans exceeding $10,000
  • Up to 5% of the loan amount may be required in an ActorsFCU savings account (determined by credit)

Limitations: Balance Transfer Loans cannot be used to pay off existing ActorsFCU loans, business credit accounts, judgment accounts, charged-off accounts, or collection accounts.


Benefits of a Balance Transfer Loan vs. a Credit Card

  • Lower interest rates
  • Fixed repayment term
  • Convenience - all credit card debts are consolidated into one monthly payment
  • An installment loan, rather than a line of credit.  Stops you from acquiring more debt.

To get started, click the Apply Now button above.  Have a question?  Call our lending experts at (212) 869-8926, option 4.

Loan programs and loan rates are subject to change without notice.  Membership eligibility must be verified before a loan application can be processed.  An ActorsFCU savings account must be opened before a loan can be funded.

*Sources: https://www.creditcards.com/credit-card-news/credit-card-debt-statistics-1276.php 2: https://www.creditcards.com/credit-card-news/rate-report.php

**APR = Annual Percentage Rate. Balance Transfer loans feature a fixed annual percentage rate as low as 6.99%. Rates are determined by creditworthiness and underwriting guidelines. Minimum loan amount is $1,500. Maximum loan amount is $30,000. A down payment up to 5% of the loan amount may be required. Repayment example: a $10,000 loan at 7.99% APR over a 60-month term would result in a monthly payment of $20.27 per thousand dollars financed for members with excellent credit. Payment example does not reflect deferred payment option. Deferred payment option allows for no payments for the first 60-days. Not all members will qualify for these payment arrangements. While accurate, the stated payment example and interest rates shown are not guaranteed. Programs, rates, terms, and conditions are subject to change without notice. This website is not a promise to lend. All loans are subject to credit approval and underwriting guidelines. Please ask for complete details.

***Source:https://www.creditcards.com/credit-card-news/rate-report.php

Balance Transfer Loans from $1,500 up to $30,000

Maximum Term Current Rate (APR*)
1-Year 6.99%
2-Year 7.24%
3-Year 7.49%
4-Year 7.74%
5-Year 7.99%
*APR = Annual Percentage Rate.  Rates are dependent on loan term, creditworthiness and underwriting guidelines.  Ask for complete details.
Rates and terms subject to change without notice. As of 08/12/2020