Debt is like fingerprints—each individual's is completely unique. So, instead of pushing a one-size-fits-all debt consolidation product on everyone, we have a team of debt management experts who sit down with our members and examine all their forms of debt. Once we have an understanding of the bigger financial picture, we can offer the best options for helping them reduce and eliminate their debt.

For a member who is facing mounting credit card debt in the wake of rising interest rates, we might suggest a debt consolidation loan that offers as low as a 9.4% annual percentage rate, which could be less than half of what they are currently paying.

Or for a member who has lived in their home for several years and wants to consolidate several high-interest loans into one low monthly payment, we might suggest a home equity loan. The point is: each situation is unique. And so is our approach to solving it.

Debt Consolidation Loan
Features: Fixed Rate. Terms up to 60 months (one year per $1,000 borrowed).

Home Equity Loan for Consolidating Debt
Features: Open End Line of Credit. Option to convert all or just a portion of variable rate loan into multiple fixed rate loans. Up to a 15 year draw period. Up to 100% loan to value. Up to $350,000. Required payment is 1% of balance. Variable Interest Rate.

If you'd like help consolidating your debt or you just need a financial checkup, an Allegacy representative will be happy to help at no cost, just call us at 336.774.3400 / 800.782.4670 or visit any Allegacy Financial Center.

*APR = Annual Percentage Rate. APR may vary depending on each individual's credit qualifications and repayment option. Rate listed includes a .50% reduction for automatic payments. If automatic payment is discontinued, the APR will increase to the current rate, and any increase in the rate will result in more payments of the same amount until what you owe has been repaid. The amount and due date of your payment will be established at the time of the loan. Terms up to 60 months. Rates and terms subject to change without notice.

Annual Percentage Rate is Prime - .25 to Prime + 3.00% on Primary Residences. Rate can never be below the floor rate (Floor Rate is 4% as of 2/28/2009). Rates subject to change. Please visit AllegacyFCU.org for current rates. The maximum Annual Percentage Rate is 18% or the maximum permitted by law, whichever is less.

Application required, approval based on criteria. Maximum Allegacy FlexLoan is $350,000. FlexLoan exceeding $100,000 require appraisals. Home equity FlexLoans are available on Primary Residences only. Prime Rate as published in The Wall Street Journal, adjusted quarterly.

Payments are 1% of the balance with a $50 minimum payment. Allegacy pays typical closing costs up to $500. These costs vary depending on the state. You will be notified of any closing costs exceeding $500 prior to incurring any other possible fees. No penalty incurred for higher than minimum payment amount.

All Allegacy mortgage loans are subject to the legal requirements in the state where the subject property is located. FlexLoans are available to all members in the District of Columbia and the following states California, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas (Mortgage loans only), Virginia and West Virginia.