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Financial Education

What is a balance transfer?

If you have debt with a high-interest APR (annual percentage rate), chances are a balance transfer could help you.

What is a balance transfer, anyway?

A balance transfer is when part or all of a debt balance you owe is transferred to another account, usually to save money on interest rates. When you transfer an existing balance with a high-interest rate, say a loan or credit card at another financial institution,  to an account with a lower rate, the savings can really add up.

How can this help you?

We know that you really meant to pay off those credit cards, but life happens.  Let us help keep your balances lower and ultimately save you money with a SIU Credit Union Visa®. Our current promotional rate is at 3.99% APR* for the life of the transfer and no balance transfer fees!

How can I do a balance transfer?

To get started, click here to learn more about our Visa Balance Transfer offer.  If you already have a SIU Credit Union Visa, simply download the 3.99% APR* form or visit any of our branches. Don’t have a SIU Credit Union Visa? Click here to apply online or learn more. You can also give us a call at 1-800-449-7301 for more information.


Fine Print: *Annual Percentage Rate. Rates, term and conditions are subject to change without notice. Offer subject to credit approval. 3.99% APR is good on balance transfers for new and existing cardholders for the life of the transfer. Rate applies only on balance transfers. Credit card approval depends on creditworthiness and other qualifications. Apply for Visa® Credit Card online at or visit any branch location. Membership required. Federally insured by NCUA. Offer begins August 15, 2020, and ends September 30, 2020, but could end at anytime without notice. Call 800-449-7301 for details.

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