New year. New smart financial decisions.
It's a new year, but that doesn't have to mean new financial worries. Ongoing stress from the pandemic and resulting economic uncertainty may leave you wondering how to make sure you and your family have your needs met.
Forget credit cards from retailers and most Mastercard® and VISA® programs. Sure, they may offer points and rewards, but check your latest statements. You’re going to see APRs as high as 23% (and some even higher) that will lock you into a seemingly endless cycle of minimum payments that do nothing more than keep your balance where it started.
Instead, get a loan that has your financial balance in mind.
With our Lifestyle Loan, you’ll get money for the holidays now and can even save some for later. If you need to and can afford to, borrow up to $25,000 at a fixed rate as low as 6.24% APR² and a fixed term up to 60 months. You’ll know exactly what your monthly payments will be and how many you’ll have before the loan is paid in full. No guess work. No temptation to charge those cards back up.
Plus, the funds can be deposited into your account in as little as 48 hours, and as our gift to you, we’re waiving payments for 90 days¹.
Whether you’re shopping for new appliances or just need some extra help, our Lifestyle Loan is the perfect pairing this year.
Is a Lifestyle Loan right for you?
With an average credit card interest rate of 19.02% APR*, paying off any amount of debt can be a slow and expensive process. Credit Union of New Jersey’s Lifestyle Loan is a simple solution that could save you thousands of dollars in the long run.
* Average credit card interest rate is from WalletHub’s Credit Card Landscape Report based on new credit card accounts opened during the first quarter of 2020.
How can a Lifestyle Loan give me money when I need it?
Our Lifestyle loans are simple and versatile. Once the amount you’ve applied for is dispersed, you can use that money any way you want to. The application process is also simple and straightforward. Best of all, you can apply online and funds can be deposited into your account in as little as 48 hours²¹.
What can I use a Lifestyle Loan for?
Lifestyle loans are great for debt consolidation, medical expenses, major purchases or to simply obtain much-needed funds during tough economic times.
Why is a Lifestyle Loan better than just using my credit cards?
Credit cards are extremely tempting because they are so easy to use—emphasis on the word “use.” Because your credit limits are revolving, as soon as you pay down the balance, the available credit you have is also replenished by that amount. So, the temptation to hop on that hamster wheel and just keep using your credit cards without ever once paying them off is all too real. When you consider that the average credit card interest rate is 19.02% APR1, you end up paying thousands (and we do mean thousands) of dollars in interest without ever making forward progress.
With a Lifestyle Loan, you borrow a specific amount over a specific term. But, you make no payments whatsoever for 90 days¹.
Once you do start making payments, you pay one set amount each month until that last payment when your loan balance becomes zero, and the loan is paid in full. Now, that is a great feeling, way better than the hamster wheel of paying credit cards down a little only to charge them back up after a few months.
1 Average credit card interest rate is from WalletHub’s Credit Card Landscape Report based on new credit card accounts opened during the first quarter of 2020.
Enjoy low, fixed-term rates from:
Borrow up to
and take up to 90 days before making your first payment³. What are you waiting for?
Each lifestyle loan closed during this promotional period will make no payments for 90 days. Accepting the terms of "no payment for 90 days offer" will extend the maturity of your loan for at least 90 days but less than 110 days. If accepting the delayed first payment, you will not be eligible for any other skipping/delaying your payment during this calendar year. Interest will accrue during this period. Loan amounts of up to $25,000 are available. Processing fee of $35 will apply. All loans are subject to credit approval.
Annual Percentage Rate (APR) effective as of July 1, 2018. Subject to credit approval. Financing available up to 60 months. Rates as low as 6.24% for 36 months, 7.24% for 48 months, and 8.24% for 60 months. Rates are based on credit worthiness. Payment amount is determined by APR and term. The loan payment is $30.54 per $1,000 borrowed at 6.24% for 36 months. The loan payment is $24.07 per $1,000 borrowed at 7.24% for 48 months. The loan payment is $20.40 per $1,000 borrowed at 8.24% for 60 months. Rates subject to change at any time. A five-dollar ($5.00) donation to the CU of NJ Foundation qualifies you for membership if you’re not already eligible through an employer group.
Timeline of funds being deposited is determined by application method.