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Money Talks E8: Loans

In Episode 8 of “Money Talks,” Lila discusses all things loans. Not all loans are created equal, but most are similar in that they will require you to pay pack the original loan amount plus interest. Loans come in two general forms—secured (examples: vehicle and mortgage loans) and unsecured (examples: credit cards and student loans).

Important Takeaways

  • Check your credit score. Scores range from 300 to 850. The higher the score the better rate you’ll likely receive on your loan.
  • Compare interest rates. See how a credit union or bank you have a relationship with stacks up against the competition.
  • Apply for a loan. Remember to stick to the terms of the loan and make your payments on time.

With strong planning and discipline, loans can be important tools to help get you to the next stage of your financial journey. 

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Loans

If you’re in the market to buy a car or home, get a credit card, or renovate your home, SELCO has loans that fit all your needs.

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Commercial Loans

If you need help starting or expanding your business or nonprofit, SELCO offers competitive loans with flexible terms, rates, and financing to help you grow.

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Understanding Credit

Explore how credit works, from credit cards and loans to interest rates and credit scores, and why responsible use supports financial health.

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Financial Calculators

Use SELCO's financial calculators to estimate loan payments, savings growth, affordability, and other scenarios to help plan smarter financial decisions.