How It Works
From multiple payments to one, in three easy steps
- 1
Tell us what you owe
Share your current balances, creditors, and interest rates. A Pelican lender reviews your situation and finds a loan amount and rate that works for you.
- 2
Pay off your existing balances
Once approved, Pelican will send the funds to you to pay off your existing balances.
- 3
Make one payment each month
From here, you make a single monthly payment to Pelican at a low fixed rate. No more juggling due dates or tracking multiple accounts.
Why Consolidate With Pelican
A Smarter Way to Pay Off Debt
One payment replaces many
Combine your credit cards, store accounts, and finance company balances into a single monthly payment with one due date.
Simplify your monthly payments
Pelican members who consolidate can lower their monthly payments by replacing multiple high-interest minimums with a single lower-rate payment.
Quick loan decisions
Most loan applications receive an instant decision in seconds. If a manual review is needed, a local lender reviews your application personally.
A low rate means more goes toward your balance
A fixed rate below what you're currently paying reduces the amount that goes to interest each month, so you pay off your debt faster.
Flexible repayment terms
Loan terms are structured to fit your budget, with no prepayment penalties if you want to pay ahead.
Debt consolidation made simple
Pelican helps simplify debt consolidation. You receive the funds after approval and payoff the creditors yourself!
Get started with just your signature
Personal loans are also known as “Signature Loans,” because loans are secured by a member’s signature. Unlike a home or auto loan, there’s no collateral at stake when you secure a personal loan.
Use your Signature Loan to make headway on major payments. Just sign the dotted line and get the funds you need to facilitate life’s next logical step.
Personal Loan options
Borrow on Your Terms
Lower rates, fewer fees, and a full range of loan products. Find the right fit for what you need.
Explore Personal Loans OptionsPersonal Loans
Unsecured financing for almost any need, no collateral required. Flexible terms with rates based on your credit.
Explore Share Pledge Loans OptionsShare Pledge Loans
Use your Pelican savings as collateral for the lowest loan rate. A great way to build credit while keeping savings intact.
Explore Personal Line of Credit OptionsPersonal Line of Credit
Revolving credit from $1,000 to $10,000. Access funds as needed, pay interest only on usage.
