Personal Banking > Consumer Loans

Consumer Loans1

Lending you a helping hand.

We offer a variety of consumer loans.

When you need it most, Salem Co-op is there to help find the loan that works for you.

Overdraft Protection Line of Credit

Overdraft Protection Line of Credit is a personal loan tied to your personal checking account. It saves you the embarrassment of overdrafts and eliminates fees associated with checks that could result in an overdraft.

  • Subject to credit approval
  • $10.00 annual fee to maintain the line
  • Loan amount will be determined based upon average balance in account
  • Other restrictions apply
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Collateral Loans

Borrow by using your own money as collateral.

  • Requires a Salem Co-op Savings Passbook or Certificate of Deposit
  •  Borrow up to 90% of the balance in your account
  • Subject to credit approval
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Auto Loans

Buy the ride you’ve always dreamed of owning.

  • 10% down required of purchase price or N.A.D.A. Blue Book Value (whichever is less)
  • Mileage restrictions may apply
  • Subject to credit approval
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Personal Unsecured

Offers fixed interest rates and payments, making payments easy to budget.

  • Requires no collateral
  • Borrow up to $5000
  • Subject to credit approval
  • Maximum term 24 months
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Need a Loan? Let’s Talk.

Salem Co-operative Bank offers a variety of loan options to help you navigate life effectively. Contact us today to learn more.

All loans are subject to underwriting and approval. Restrictions may apply.

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1All loans are subject to underwriting and credit approval. Other restrictions may apply. Rates are subject to change without notice.

 


Additional Resources

Consumer Loan Rates

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