The meaning of Credit Union and Professional Association Loans is Credit unions are basically non profit financial institutions owned and run by the members of the credit union. Credit unions offer a safe place to borrow at reasonable rates. Members act co-operatively, pooling their funds to make personal loans to other members.
In every year that American Banker newspaper and the Gallup Organization have polled consumers on customer satisfaction, not-for-profit credit unions have topped the list. You must membership criteria in order to join a credit union. Most credit unions serve a particular community or group of employees, or members of an organization or association. Find a credit union in your area.
Similarly, professional associations sometimes offer special low-interest personal loan programs, like the National Education Association's Personal Loans program.
Personal Loans from Other People (P2P Lending)
P2P lending communities are a new and exciting if somewhat unfamiliar option for obtaining an unsecured personal loan, if you don't have access to a credit union. The leading P2P resource site in the U.S. is Prosper Marketplace.
With Prosper's P2P Personal Loans, investors bid small amounts, joining together as a group to fund personal loans. Investors (lenders) can contribute as little as $50 to help fund a loan. When enough bidders are in place to fund the loan, the loan gets funded. It's a way for consumers to obtain personal loans at good rates. Essentially, sites like Prosper are helping people who need cash get loans from other people who have money to lend. That's all the meaning of Credit Union and Professional Association Loans for your reference so you can make a better understanding regarding the loan business. For more credits, you may look further by accessing this site https://sg.loangarage.com/.