Borrow · All loan products
Rates set by your neighbors, not shareholders.
Every loan Beverly Credit Union makes stays on the North Shore. No dealer mark-ups, no national call queues — just straightforward terms from people who live here too.
Mass Save® HEAT Loan — our flagship
Cut your heating bill with a 0% interest loan.
interest — no finance charges, ever
maximum loan amount
up to 7 years to repay
Insulation, heat pumps, smart thermostats, air sealing, windows — qualifying Mass Save® improvements can be financed at 0% interest through Beverly Credit Union. We're one of the North Shore's leading HEAT Loan lenders, and there's no origination fee.
Start with a free home energy assessment at MassSave.com/HEATLoan, get contractor quotes, then apply here.
Auto loans
Drive away with a rate that makes sense.
New vehicles
Finance a new car, truck, or van with competitive rates and flexible terms up to 84 months. Get pre-approved before you set foot on the lot.
Used vehicles
Rates scale by model year — including vehicles 2019 and older. Refinances available too, at the same rates as purchases: if your dealer rate isn't working, bring it to us.
Pre-approval
Know your rate and payment before you shop. Pre-approvals are free, take about 10 minutes, and put you in a much stronger negotiating position.
Personal loans
Up to $12,500 for whatever comes up.
Unsecured personal loan
Consolidate credit cards, cover an unexpected expense, pay for school, or take the trip you've been putting off. Terms from 12 to 60 months, up to $12,500.
No collateral required. Apply online or call us — we'll let you know same day.
Apply now View ratesShare-secured loan
Use your savings as collateral and borrow at a rate just above your dividend rate. Great for building credit history or getting a low rate on a larger purchase — your savings stay put and keep earning dividends.
Minimum $1,000. No maximum loan amount (up to your balance). Terms up to 60 months.
Apply nowPersonal loan rates as of July 1, 2026 — see rates page for current APRs. Actual rate determined by creditworthiness and term. Subject to credit approval. Maximum loan amounts subject to underwriting.
Home equity loans
Fixed payments. Fixed rate. Five, ten, or fifteen years.
If you've built equity in your home, a fixed-rate home equity loan gives you a lump sum at a predictable rate — useful for renovations, consolidating high-interest debt, paying tuition, or any significant one-time expense.
5-year fixed
Highest monthly payment, lowest total interest. Good if you want to pay it off fast.
See current rate →10-year fixed
A middle ground — affordable payment without stretching repayment too long.
See current rate →15-year fixed
Lowest monthly payment of the three options. Good if cash flow matters more than total interest.
See current rate →Home equity line of credit
Five years to draw. Ten years to repay.
A HELOC works like a credit card against your home's equity — draw what you need, when you need it, during the 5-year draw period. Pay interest only on what you use. After five years, the outstanding balance converts to a 10-year fixed repayment loan.
Minimum $12,500
Maximum $250,000, subject to available equity and creditworthiness.
Prime rate for life
Variable rate tied to the Wall Street Journal prime rate. Floor: 4.00%. Ceiling: 16.00%.
Interest-only draw period
During the first five years, monthly payments cover interest only — keeping them low while you complete work in stages.
Motorcycle loans
New and used motorcycles — pre-approved before you shop.
Finance a new or used motorcycle through Beverly Credit Union and get the same straightforward experience as our auto loans: competitive rates, flexible terms up to 84 months, and a same-day decision. Refinances welcome.
Rates vary by model year and term. Call (978) 922-5254 for a rate quote.
Recreational vehicle loans
Boats, RVs, trailers, campers, snowmobiles, and jet skis.
Longer terms than a typical personal loan — up to 180 months depending on the year and type — with rates that reflect a secured loan, not a credit card advance. New and used eligible. Pre-approvals and refinances available.
2021 and newer
Terms up to 180 months. Rates vary by term — call or apply online for your quote.
2018–2020
Terms up to 180 months. Slightly higher rates reflect older collateral — still well below most dealer financing.
Mortgage loans
Your hometown credit union. A mortgage specialist who knows it.
Beverly Credit Union partners with Members Mortgage to offer competitive mortgage rates and personal service. When you call, mention you're a Beverly Credit Union member to access our specific rates and programs.
Call Members Mortgage
Reach a mortgage specialist who understands your credit union membership benefits.
1-800-316-9790 · press 3Use promo code "beverly"
When you call or apply with Members Mortgage, promo code beverly links your application to Beverly Credit Union and our member rates and programs.
Start with a callMortgage loans are originated and serviced by Members Mortgage. Rates and programs subject to change. Beverly Credit Union is an Equal Housing Lender. NMLS #1598236.
Getting started
Applying takes about 10 minutes.
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Gather the basics
Driver's license, Social Security number, income info, and — for secured loans — details about the collateral (vehicle year/make/model, property address).
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Apply online or in person
Use our secure online application or visit us at 139 Cabot St, Beverly. Prefer to talk first? Call (978) 922-5254 — a person answers.
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Get your decision
Most decisions are same business day. If approved, we'll walk you through closing — and there are never prepayment penalties on any BCU loan.
Common questions
Loan FAQ
Do I need to be a member to apply?
You can apply for a loan before you're a member. If you're approved and eligible, we'll open a $5 share savings account alongside your loan — making you a co-owner of the credit union at the same time.
What is a Mass Save® HEAT Loan and do I qualify?
A HEAT Loan is a 0% interest loan for qualifying home energy improvements — insulation, heat pumps, windows, air sealing, and more. The program is administered by Mass Save® and funded through Beverly Credit Union and other participating lenders.
To qualify, your home must be in the Mass Save service territory (most of Massachusetts) and the improvements must be recommended by a Mass Save energy assessment. Start at MassSave.com/HEATLoan to schedule a free assessment.
Can I refinance a loan I got somewhere else?
Yes — refinancing is one of the most common reasons people switch to Beverly Credit Union. If you have an auto, motorcycle, or RV loan at a higher rate, bring us the details and we'll tell you what we can do. There's no cost to apply.
Are there prepayment penalties?
No prepayment penalties on any Beverly Credit Union loan. Pay ahead on your own schedule.
How do I make a loan payment?
Three ways:
- Online banking — transfers post the same day. Enroll or log in at our online banking portal.
- By phone — call (978) 922-5254 during business hours.
- In person — 139 Cabot St, Beverly, MA. Mon–Wed 8:30–4:00, Thu 8:30–5:00, Fri 8:30–1:00.
You can also set up automatic payments from any checking account — call us to get started.
What happens if I can't make a payment?
Call us before you miss a payment — (978) 922-5254. We're a four-person credit union and we'd rather work something out with you than go through a collections process. There are options.
Ready to borrow?
Apply online in about 10 minutes, or call (978) 922-5254 to talk through your options. If you're not a member yet, we'll sort that out alongside your application.