- Boost your holiday budget.
- Get affordable rates from NorthPark Community Credit Union.
For most American families, the holiday seasons are the most expensive. This is when you might start looking for a holiday loan to cover the additional expenses of presents or a vacation. Finance gurus often advise against taking out loans for leisure activities, but holiday loans can help you turn an otherwise drab holiday celebration into a memorable one.
A holiday cash loan is a personal loan acquired for the specific purpose of boosting a holiday budget. It can help you pay for additional expenses in the holiday season at much lower rates than credit cards provide. This type of loan is also commonly called a Christmas loan because Christmas is the time of year when most families splurge on presents.
Getting a holiday loan isn’t always the best reason to acquire new debt, but there are several situations when it might be worth it. These are some of the many we can think of:
- To take advantage of Black Friday or Cyber Monday sales to get Christmas toys more cheaply
- To purchase holiday gifts and food ahead of receiving your Christmas bonus
- To ensure a happy welcoming for someone who has been away from home
- To pay for a family vacation or bonding experience during stressful times
- To avoid acquiring high-interest debt on credit cards or payday loans
There are countless creditors on the market looking for any opportunity to extend holiday loans to borrowers at very high rates. These are usually for-profit organizations that need to meet financial quotas to fatten the pockets of shareholders or other owners.
NorthPark Community Credit Union is a financial cooperative that focuses on building the community, not the wealth of corporate shareholders. As a not-for-profit financial institution, we provide holiday loans with affordable rates to our members in central Indiana.
Our credit union offers personal service, competitive rates, and flexible terms. We view credit offerings as an investment in our members, so we do everything to make the experience a favorable one.
Applying for a holiday loan is similar to most other personal loans. These are some of the items you may need to gather before applying:
- Photo ID
- Social Security Number
- Recent paystub
The first action we recommend is checking your credit score. Having a credit score of at least 600 increases the odds of you getting favorable terms. If you check early enough and you do not yet have decent credit, you can take steps to improve your credit over the next few months. Then, gather the information you need and apply for your holiday loan. We look forward to serving you.