COLLATERAL LOANS

When you can pledge an asset to secure a loan, you can often benefit from personal loans with low interest. Among assets you can collateralize with us include certain eligible Union Savings Bank accounts – where you can receive quick, no credit review loans.

HOME IMPROVEMENT SMART-E LOANS

If your plans for upgrading your home include making it more energy efficient, you could be eligible for special low rate. Long-term consumer loans are available to help CT residents create a more ecological place to live. We’re a participating lender, and can help you navigate the qualification process..

VEHICLE LOANS

We’re here to help you get moving. Before financing your vehicle where you purchase it, check with us. A Union Savings Bank loan can offer competitive rates, fast approvals, no fees or hidden charges, flexible refinancing and local service.

FAST PERSONAL LOANS

Unexpected expenses are just that: unexpected. If you are facing unanticipated expenses such as a car repair, medical expenses or a special upcoming event, we can look at your income and credit history to determine if we can offer you an unsecured consumer loan with competitive fixed rates and without a prepayment penalty.

OVERDRAFT PROTECTION

Account balance running low? Need to cover a bill before your next paycheck? Overdraft protection can help. It’s like an easy personal loan that automatically kicks into action when your account runs dry. Is it a loan, or a convenience? Actually it’s both. Frequently Asked Questions

HOME IMPROVEMENT

Update, renovate or expand your home to enjoy more living space, a nicer kitchen or make room for a new member of your family with a consumer loan. Stay in the neighborhood, and leverage a home improvement loan to create a better place to be.

BOAT LOANS

Looking to escape on the water? There’s really nothing like it. We can help you realize your dreams with a consumer loan up to $150,000 for purchasing or refinancing your recreational boat.

Our mortgage, HELOC and consumer loans make your life easier.

Get $25 cash back after your first purchase with a USB Credit Card.

Find a Branch

Meet with a local banking expert to discuss your business goals and needs. Find the closest Union Savings Bank location.

Consumer Loan Rates

    • LOAN TYPE
    • APR*
    • MINIMUM LOAN
    • MAXIMUM LOAN
    • MAXIMUM TERM
    • MAXIMUM LIFETIME VALUE
    • PAYMENT AMOUNT
    • Vehicle – New (vehicles manufactured in current year or having less than 10,000 miles)
    • 4.99%
    • $1,000
    • NA
    • 60 months
    • 100%
    • $188.66 1
    • Vehicle – Used 2 years old or less
    • 4.99%
    • $1,000
    • NA
    • 48 months
    • 80%**
    • $230.24 1
    • Vehicle – Used 3 – 4 years old
    • 4.99%
    • $1,000
    • NA
    • 36 months
    • 80%**
    • $299.65 1
    • Vehicle – Used 5 – 8 years old
    • 4.99%
    • $1,000
    • NA
    • 24 months
    • 80%**
    • $438.66 1
    • Collateral – Statement Savings
    • 3.25% over current rate account is earning
    • $500
    • N/A
    • N/A
    • 6 months reserve required
    • Variable 2
    • Overdraft Protection – Sweep
    • 18.00%
    • $500
    • $5,000
    • N/A
    • N/A
    • Variable 3
    • Personal
    • 9.50%
    • $500
    • $5,000
    • 36 months
    • NA
    • $160.16 4
    • Home Improvement
    • 9.50%
    • $1,000
    • $10,000
    • 60 months
    • NA
    • $210.01 4
    • Home Improvement Smart-E Loan 5
    • 4.99%
    • $3,000
    • $25,000
    • 84 months
    • NA
    • $353.22 4
    • Home Improvement Smart-E Loan 5
    • 5.99%
    • $3,000
    • $25,000
    • 120 months
    • NA
    • $277.42 4
    • Boat – New or Used Loans up to $25,000
    • 5.99%
    • $1,000
    • $25,000
    • 60 months
    • 80%***
    • $483.19 4
    • Boat – New or Used Loans from $25,001 to $50,000
    • 5.99%
    • $25,001
    • $50,000
    • 120 months
    • 80%***
    • $554.84 4
    • Boat – New or Used Loans up to $50,001 to $150,000
    • 5.99%
    • $50,001
    • $150,000
    • 180 months
    • 80%***
    • $1,264.97 4

Consumer Loans FAQs

What is a collateral loan?

A collateral loan is a secured loan in which the borrower pledges an asset. Union Savings Bank offers added flexibility and loan power to customers on certain eligible accounts for quick, no credit review loans. These loans are processed and closed in the Branch.

What types of personal loans does Union Savings Bank offer?

o Vacation – limit of $2,000.00 term 1 year proof needed
o Establish credit — $500.00 term 6 months
o Bring Family to United States term 1 year proof needed
o Car repairs term 1 year estimate needed
o Tuition – preschool through grade 12 term 1 year proof needed
o (exclude tuition for post secondary education expenses)
o Legal Fees term 1 year proof needed
o Income taxes term 1 year proof needed
o Medical expenses term 1 year proof needed
o Wedding term 1 year estimates needed

What are the Union Savings Bank rates for new and used cars, motorcycles and boats?

Please see our rates page for more information. Click here

Do I make fixed payments or interest-only payments on my collateral loan?

Payments are made as interest-only monthly payments.

down arrow Disclaimers

1 Monthly payment based on a $10,000 loan at the current interest rate for the max loan term.

2 Your monthly payment based on current Savings Account interest rate of 0.03% on a $1,000 loan is $2.73. Required monthly payments are interest only.

3 Your minimum monthly payment will be equal to the greater of 1/10th of your unpaid principal balance as of the last day of the Billing Cycle or $20.00, plus all accrued and unpaid Finance Charges as of the last day of the Billing Cycle. If your principal balance as of that date is less than $20.00, you must pay the entire principal balance plus unpaid Finance Charges.

4 Monthly payment based on the maximum loan amount at the current interest rate for the maximum loan term.

5 Home Improvement Smart-E loans are offered through our partnership with Energize Connecticut. For information, call 877-WISE-USE (877-947-3873) or visit energizeCT.com/smarte. Eligible participants: your home must be: 1-4 units owner occupied ; or have approval of landlord; home must be a primary residence, home must be located in CT; condominiums are eligible only if they are individually metered. Limited time offer. Smart-E loan program is subject to Union Savings Bank credit approval. All Smart-E loan projects are subject to Connecticut Energy Finance and Investment Authority (CEFIA) approval.

* Annual Percentage Rate

** LTV – based on N.A.D.A. average retail value or similar industry valuation guide.

*** LTV – based on BUC book value.

All loans are subject to credit approval.