FAQs

Q: What can I use a signature loan for?

TelComm signature loans can be used for a wide range of purposes including debt consolidation, major purchases, vacations, holidays, unexpected expenses, and home improvements.

Q: What is a signature loan?

A signature loan, also called a personal loan, is an unsecured loan that does not require collateral. Approval is based on your creditworthiness, and funds can be used for nearly any purpose, including debt consolidation, major purchases, vacations, unexpected expenses, or home improvements.

Q: What are the terms for a TelComm secured loan?

Rates are fixed for up to 36 months. If a longer term is needed, the loan will be rewritten. Contact a TelComm loan officer for current rates and details.

Q: How does a secured loan help build credit?

We report our cash secured loans to all three credit bureaus Making on-time payments on a secured loan establishes a positive payment history, which is one of the most important factors in your credit score. It is a practical way to build or re-establish credit while keeping your savings intact.

Q: Do I need good credit to get a cash secured loan?

No. Because the loan is secured by your savings account with TelComm, no credit report is pulled and no proof of income is required, making it accessible to members who are building or rebuilding their credit.

Q: What is a cash secured loan at TelComm?

A cash secured loan at TelComm is a loan backed by funds already on deposit in your TelComm savings account. This is a loan that is typically used for building credit.

Q: How do I apply for an Adventure Loan?

You can apply online, by phone at 417.886.5355, or in person at any TelComm branch. Have your vehicle identification number (VIN) or serial number available when you apply.