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Our MoneyLine Phone Banking service will no longer be available after May 1st. Please contact us with any questions.


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We could all use a little extra cash in our bank account to get us through a major purchase, an unexpected expense, a heavy down payment, or a milestone event. Applying for personal loans and payday loans are some of the quickest ways to get money into your bank account when needed.

When you apply for a personal loan with EXCEL, you can see money in your checking account as soon as the next business day. We offer affordable interest rates and expert advice if you seek credit counseling, so there’s no need to suffer through the high fees often found with untrustworthy payday loans.

You can easily begin the online loan application process apply for a personal loan through our website. Though these online loans aren’t for everyone, they could be a great solution to provide you with extra cash at an affordable rate.


Personal (or Signature) loan agreements allow you to borrow small amounts with short-term or moderate-term monthly payments. There are two main types:

  • Unsecured: do not require collateral
  • Secured: do require collateral

Most personal loans are unsecured, so we at EXCEL typically do not require collateral such as a savings account or checking account to approve your online loan application.

We can approve your online loan application within one day or less. These personal online loans have a lower interest rate than other types of loans, and their payment terms are generous. This makes them easy to pay back for most people. Also, taking out online loans may positively affect your credit score if you repay on time.

Have questions? We’ve got answers! Here are some FAQs.


Installment loans are a type of personal loan with a longer term than others. Many people opt for installment loans if they need more generous payment terms to repay the loan. Often, installment loans have a more long-term interest rate. We offer installment loans through our website, and you can often expect to receive the funds from an installment loan in your checking account by the next business day.


EXCEL online lenders are flexible and can approve loans for various purposes. Many people use loan proceeds to pay for things like:

  •         Medical bills
  •         Home repairs
  •         Wedding costs
  •         Funeral payments
  •         Furniture or large appliance purchases

People also use this money to consolidate debt from credit cards. This may positively affect your credit score since you will repay your debt at a fixed rate, lowering your credit utilization as you diversify your debt types.

If you have a short credit history or high-risk/bad credit, we can help you seek credit counseling and advice from experts.

We will need to know the purpose of your loan to approve your application in case another type of loan, such as a business option, might better suit your needs.


Many people believe that receiving a payday loan or one from a third party will allow them to secure a small amount of money more easily than applying for a personal loan. However, personal loans are financially smarter options for several reasons:

  • They often have lower interest rates than most payday loans
  • More flexible payment terms when compared to payday loans
  • Even the best online payday loans can have a harsh effect on your credit score
  • Online lenders for payday loans can be untrustworthy

Overall, these loans are cheaper and easier to pay back than borrowing funds from a payday lender or third party. Next time you think about visiting a payday lender service or borrowing from a friend, consider applying for a personal loan and shielding yourself from potential bad credit instead.


You can apply for a personal loan right on our website. To apply for an EXCEL loan online, you will need to be a credit union member. You can become a member on our website as well.

To begin the application process for your loan online, you’ll need to provide a few pieces of information

  • Social Security Number (SSN), EIN or TIN
  • Driver’s license or another form of government issued ID
  • Address
  • Phone Numbers
  • Employment information
  • Estimates of income

You will then finish out the application by specifying the purpose of your loan. Our online lenders will review your application quickly so that you can get your loan amount as soon as the next business day.

Applying for a personal loan on our website is a more straightforward process than going into the branch to apply in person. Our application process will walk you through each of the steps, and you can be sure you have all of the information you need before you start the application.

Many people prefer applying online because of the ease and convenience. Still, if you would rather meet with a loan officer in person, you can schedule an appointment at one of our branches during business hours.


Advantages of Online Loans

  • The pre-qualification process does not update your credit history or decrease your current credit score.
  • Online loans are approved faster, and you can access loan proceeds in less time.

Disadvantages of Online Loans

  • Less personal interaction

Advantages of Traditional Loans

  • If you have a preexisting relationship with a traditional lender, you may see more benefits.
  • Face-to-face interaction is more comfortable for specific potential borrowers.

Disadvantages of Traditional Loans

  • Traditional loans are approved slower, and if you need access to loan proceeds quickly, that can prove to be a challenge.
  • Less convenient for borrowers as they are often required to apply in person.


Applying for a loan through our website is just as safe as applying for one in person. The process is the same, and we use tight security protocols to ensure the safety of your information every time you log into our website. Applying through our website expedites your application by sending it directly to our review team, so you can receive your funds in your account much sooner than you could with an in-person application.

We use encryption technology to keep your payment information secure every time you visit our site. You can trust Excel FCU to provide you with a trustworthy financial experience when you apply for a loan on our site.


These loans are some of the easiest options for which to qualify, and we accept most of our applications.

However, the interest rates for each person’s loan may vary based on several factors:

  • Credit score: We utilize the three major credit bureaus: Equifax, Experian, and TransUnion, to accurately determine applicant credit scores. Your credit score takes into account your entire financial history. The higher your credit score, the lower your interest rates will be. You can still qualify for a personal loan if you have lower credit, but your interest rate may be less optimal in this case.
  • Credit report: A soft credit check and credit report will tell us financial information that your credit score does not, such as bankruptcy, foreclosure, and delinquent payments. If your credit report comes back clean, you may qualify for a low interest rate. Just as with a low credit score, a poor credit report does not disqualify you from receiving a loan, but it does affect your interest rate.
  • Income: We want to make sure you can repay your loan, so we will look at your debt-to-income ratio to see if our payment will compete with other debts, such as credit card debt. If you have sufficient income in your bank account and few debts, you will likely qualify for a lower interest rate.

If you do have a low credit score, receiving a personal loan and making prompt payments can help improve your credit. However, you may want to improve your credit before you apply in order to get the best interest rates.


The loan amount for which you can qualify may vary. We offer options for anywhere from $2,000 to $50,000, but not everyone can qualify for the highest loan amount. Once you submit your loan application, we will process your information and contact you by the next business day to let you know if we’ve approved your loan amount. If we do not approve your application, you might be able to qualify for a smaller loan amount or a longer payment option instead.


Applying for a personal loan online can be quick and easy! You can have money in your account within one business day, so you’ll be ready to begin your home renovation process, start paying medical bills, plan your wedding, or consolidate your credit card debt.

Call or text EXCEL today to speak with a member service representative about our application process, or click here to begin applying for your loan online.

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Found a loan that looks right for you? Let’s get started!