South Metro’s Personal Loans At Low Interest Rates

During the month of July, South Metro Federal Credit Union is promoting our personal loans to help you finance your future. Learn just what a personal loan is, what our bank can offer you, and what you can use your personal loan to accomplish.

What Is A Personal Loan?

You have probably heard about mortgages, car loans, boat loans, and lines of credit, but personal loans are something different. Personal loans are used to fund large expenses without requiring collateral, otherwise called unsecured. Sometimes life requires a chunk of change you just do not have. Personal loans can help with that!

Personal loans are typically somewhere between $5,000 to $40,000 and interest rates vary with each financial institution. At South Metro Federal Credit Union, we offer an unsecured personal loan with an interest rate as low as 8.99% during the month of July. Personal loans are installment loans: you receive the entire amount borrowed upfront and then you make fixed monthly payments, usually for terms ranging from 24 to 60 months.

What Are Personal Loans Used For?

The great thing about personal loans is that their usage is discretionary. Whatever large purchase coming up in your life that you need money for is valid. The most common use for personal loans is to pay off credit card debt because credit cards oftentimes have a much higher interest rate. Paying off a credit card with a 17.99% interest rate with money from a loan with a lower rate will save you thousands in the long run.


Another use for a personal loan is to consolidate debt. If you have payday loans, car loans, and student loans to keep track of, it can be advantageous to consolidate your debt into one loan with a fixed rate, fixed monthly payment, and closed term. It is also common for people to take out a personal loan to complete home renovations or finance their wedding. Sometimes life catches you off guard and you find yourself having to pay substantial medical bills or funeral costs. These are lots of reasons people opt for a personal loan.


A personal loan could be just the solution you are looking for. Our personal loans offer lower rates and fewer fees, allowing you the flexibility to finance anything life will throw at you. Stop in today to inquire about how you can take advantage of July's personal loan promotion.

South Metro Federal Credit Union: Your Better Financial Option

South Metro Federal Credit Union is your trusted advisor to achieve your individual financial goals through our array of member services. We’re happy to serve the residents of Scott County, MN, and we operate branch locations in Prior Lake and Shakopee for the convenience of our members.

Our Member Focused Mission

South Metro Federal Credit Union is a member-owned financial cooperative which provides financial products, services, and education enabling members to achieve personal and financial goals to improve their quality of life.

Core Values for Our Members

South Metro Federal Credit Union has adopted a set of Core Values – those guiding precepts that we believe will never change regardless of how the business environment evolves.

• Provide a “safe haven” for our members’ funds such that their money will never be subject to extraordinary risk
• Assure non-discriminatory treatment of all classes of members
• Value individual employee productivity, creativity and innovation
• Assure integrity in the handling of all business transactions
• Recognize “respect” as a valued commodity to be given to our members and earned from the community
• Make every reasonable effort to serve member needs

Member Resources

Our motto is “Get There. Start Here.” We are here to help you reach your goals, providing members like you with services that will achieve the ultimate goal – improved quality of life for you and your family.

• Checking, Savings, and Business accounts
• Loans for Automobile, Boat, RV, Mortgages, Home Equity, and more
• Investment and Insurance Services
• Budgeting Tools and Financial Education resources
• Virtual Banking and Mobile Banking Services

It's Easy to Become a Member!

If you aren’t already a member, join South Metro now! Members enjoy all of the services above as well as additional discounts and perks to enjoy in the south metro. Begin the application here and start enjoying the benefits!

We hope you will continue to check back to our blog for credible financial advice, clear and concise information, and helpful tools to help you achieve your goals. We’re here to help!