Commonly overlooked loan options that could meet your needs.

Money Matters Blog for Cinfed Members

What Do You Need Loans For?

Posted on March 26, 2018
Topic Categories: Banking, Consumer Help

Couple Laughing together

By Jim Keating - Consumer Loans Manager, Cinfed

When most people think of loans, they think of large purchases like homes or vehicles. While mortgages and auto financing are important, loans can be used for other needs as well – some that may not be as obvious.

Like many financial institutions, Cinfed offers a variety of loans that meet our members’ needs – some of them short-term, others longer term. Personal loans, or as we call them, Signature Loans, can help you cover the cost of those needs.

Here are a few of the most common, yet overlooked, reasons to apply:

  1. Improve Your Credit Score - Making regular payments to a trusted financial institution and lender, you’re essentially proving that you’re a reliable and trustworthy individual that can be counted on to lower your debt. This will have an impact on your credit score. Once the financing is completely paid off, your score could go up even further, helping establish a history for future lenders.
  2. Cover the Cost of Home Improvements - After financing a home purchase, you may need money to handle renovations and improvements. Applying for financing from your credit union is the perfect way to cover the cost of renovations without destroying your monthly budget or forcing you to delay renovations until your savings have built up. All you need is an estimate for the cost of the project, and your financial representative can work with you to find the right financing package.
  3. Pay Credit Card Debt - It may seem counterintuitive to borrow money to pay off existing debt, but it’s one of the most common reasons why people speak with lenders. Credit cards have high interest rates that can make even small amounts of debt far larger than they seem on the surface. Personal loans, on the other hand, offer longer repayment periods with lower interest rates, breaking down your monthly payments into more affordable increments. Over time, you’ll pay less in interest when you work with a credit union than you would on your credit cards.

Signature Loans from Cinfed offer versatile solutions for members’ financial needs – even short-term ones like vacations, school tuition and the holidays. Many variables need to be considered, so an important first step is to talk with a financial professional at any branch location.


Cinfed Credit Union
4801 Kennedy Avenue
Cincinnati, OH 45209
(513) 333-3800
Routing #242076656


We've only been members for a little over a month and already feel the difference. I don't want to name names, but let's just say Cinfed is WAY better than our previous institution that rhymes with... 
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As a long time member, I have always received great service from all CinFed employees. I just wanted to say a special thank you to Dee Dee Day and Dawn Strickland. I had to make some changes to... 
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How lucky I am to have Liz Frey managing the office I use! I live in Florida but maintain Cinfed as my main banking office. Everytime I need special help a simple email or call to Liz and it is... 
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Emily Snyder took the best care of my two auto loans. She was professional, courteous and very knowledgeable of the available services for me. She went out of her way to make sure I felt like I was... 
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I have been member with Cinfed since 1986. The Roselawn Cinfed staff greeted the customer phone calls friendly and polite willing to help you with your needs. They have excellent customer service.... 
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I have been a member of CINFED since about 1981 when I was transferred from SLC, Utah with the US Army Recruiting Command and have always received excellent service and support . Hope Dee Dee is... 
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