Consolidation Loan

Debt Consolidation Loan

High-rate debt giving you a run for your money? Stay one step ahead with a Consolidation Loan.

IFCU's Consolidation Loan is a simple way to get cash without a lot of hassle. As an unsecured loan, this loan requires no collateral. If qualified, borrow from $500 to $15,000, with funds available right away.

As low as 6.99% APR*

Simplify Your Debt

Combine all your debt into one convenient loan, while making one easy payment.

As low as 6.99% APR*


Scenario based on a $5,000 loan + interest paid in full for 60 month term at 6.99% APR*
This payment example is for illustration purposes only.

The Run Down
  • With a Consolidation Loan you don’t need to have collateral to get cash. All it takes is a signature.
  • A great cash resource for bill consolidation like holiday bills, credit card debt, home expenses, health expenses, or any other unwanted debt
  • Lower your monthly payments.
  • Reduce your interests rate.
  • Pay less total interest by combining your debt into one low-rate loan.
  • Minimum loan amount is $500
  • Maximum loan amount of $15,000, with repayment up to 60 months
  • Cannot be used to pay off any IFCU loan or Visa
  • No collateral required for these unsecured personal loans​
  • No prepayment penalties. Pay early and save on interest.

Calculate your Personal Loan Payment

Apply Online or Call (765) 771-8000 Option 1 or visit one of our branches to speak with one of our loan representatives to begin the loan process.

The Cash You Need, When You Need It.

Stress less and start enjoying more! Get the money you need without all the hassle. A Consolidation Loan can get you where you need to be with a monthly payment that works for you and your budget.

Simplify and Save

Simplify and Save

Consolidating payments can make debt easier to manage.

Pay of debt faster

Interest Savings

With rates as low as 6.99% APR*, you may save significantly on monthly interest and pay off your balance faster.

financial confidence

More Control

With a fixed term up to 60 months, you will know exactly when your debt will be paid off.


What are debt consolidation loans?

Debt consolidation loans are loans that allow you to pay off an existing debt, such as a credit card or other outstanding debt, with a new loan. The goal of these loans is to allow you to pay off your debt faster than you might have originally by offering different terms than your initial loan or debt might have.

How do debt consolidation loans work?

Debt consolidation loans often take the form of personal loans, in that they can be used for any financial need you may encounter. The goal of debt consolidation loans is to offer a lower interest rate and more favorable terms than the initial loan or debt, allowing you to pay it off more quickly and with typically lower payments. While you’ll still make monthly payments, these payments may be lower than your previous ones and/or will end more quickly due to the improved interest rates.

When should I get a debt consolidation loan?

Debt consolidation loans can come in handy in a number of different financial situations. Many people use them to combine their existing debt (such as credit card bills, other personal loans and medical bills) into one easier-to-manage lump sum payment every month, while others use them to help sort their finances after realizing the interest rates on their existing loans or debts aren’t manageable with their current financial state. If you have a plan to pay off your debt, and your debt is significant but not out of control, debt consolidation loans can be a perfect solution to help control your payments every month.

How do debt consolidation loans affect my credit score?

While everyone’s unique credit situation is different, debt consolidation loans can begin to improve your credit score over time if regular payments are made and the loan is paid off in a timely manner.

Free Financial Calculators

Access our complete library of both loan and deposit calculators.


*Annual Percentage Rate (APR). The example shown above is for illustrative purposes only. All loans are subject to approval and individual rates may vary based on your credit score, terms, and underwriting conditions. Your actual rate may be higher. This special can not be used to refinance any IFCU loan or Visa. New money only. Maximum term of 60 months, with a max of $15,000 borrowed. Certain restrictions may apply. We may offer other terms and conditions connected with this offer. All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice. Call us at 765-771-8000 option 1 to talk to a consumer loan specialist for current rates, terms and conditions.


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