--- title: "Myths Busted: 6 Misconceptions About Debt Consolidation" description: Debt consolidation can be an attractive option for managing debt and creating a path to becoming debt-free. Learn six common myths about debt consolidation. image: https://blog.717cu.com/hubfs/GettyImages-1167473904-1.jpeg --- [Skip to content](https://blog.717cu.com/resources/education/financial-education-blog/myths-busted-6-misconceptions-about-debt-consolidation#main-content) [![person with a plus sign](https://blog.717cu.com/hubfs/Fonts/open-account.svg)Open an Account (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) ![pencil writing on paper](https://blog.717cu.com/hubfs/Fonts/apply-loan.svg)Apply for a Loan [Mortgage (opens in a new tab)](https://717cu.mortgagewebcenter.com/) [Other Loans (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) [Credit Cards (opens in a new tab)](https://717cu.loanspq.com/cc/CreditCard.aspx?lenderref=717cu032823) [![red and blue calendar outline](https://blog.717cu.com/hubfs/Fonts/schedule-appt-red.svg)Schedule Appointment (opens in a new tab)](https://717cu.coconutcalendar.com/service) Menu [Locations](https://www.717cu.com/about/connect/locations) [Contact](https://www.717cu.com/about/connect/contact-us) [Rates](https://www.717cu.com/resources/tools/rates) Submit search - [Open an Account (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) - [Apply for a Mortgage Loan (opens in a new tab)](https://717cu.mortgagewebcenter.com/) - [Apply for Other Loans (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) - [Apply for Credit Cards (opens in a new tab)](https://717cu.loanspq.com/cc/CreditCard.aspx?lenderref=717cu032823) - [Personal](https://www.717cu.com/personal) - Checking & Savings - [Checking](https://www.717cu.com/personal/checking-savings/checking) - [Rewards Debit Card](https://www.717cu.com/personal/checking-savings/rewards-debit-card) - [Youth Accounts](https://www.717cu.com/personal/checking-savings/youth-accounts) - [Savings](https://www.717cu.com/personal/checking-savings/savings) - [Certificates](https://www.717cu.com/personal/checking-savings/certificates) - [IRAs](https://www.717cu.com/personal/checking-savings/iras) - [Money Market](https://www.717cu.com/personal/checking-savings/money-market) - [NCUA Insurance](https://www.717cu.com/personal/checking-savings/ncua-insurance) - Loans - [Visa® Rewards Credit Card](https://www.717cu.com/personal/loans/visa-rewards-credit-card) - [Home Loans](https://www.717cu.com/personal/loans/home-loans) - [Home Equity Loans & Lines](https://www.717cu.com/personal/loans/home-equity-loans-lines) - [Home Improvement Loans](https://www.717cu.com/personal/loans/home-improvement-loans) - [Auto Loans](https://www.717cu.com/personal/loans/auto-loans) - [Other Vehicle Loans](https://www.717cu.com/personal/loans/other-vehicle-loans) - [Personal Loans](https://www.717cu.com/personal/loans/personal-loans) - [Loan Refinancing](https://www.717cu.com/personal/loans/loan-refinancing) - [Loan Servicing](https://www.717cu.com/personal/loans/loan-servicing) - [Loan Protection](https://www.717cu.com/personal/loans/loan-protection) - Investments & Insurance - [Retirement and Investment Services](https://www.717cu.com/personal/investments-insurance/retirement-and-investment-services) - [Insurance](https://www.717cu.com/personal/investments-insurance/insurance) - Services - [Online Banking](https://www.717cu.com/personal/services/online-banking) - [Mobile Banking](https://www.717cu.com/personal/services/mobile-banking) - [Account Alerts](https://www.717cu.com/personal/services/account-alerts) - [Digital Wallets](https://www.717cu.com/personal/services/digital-wallets) - [eStatements](https://www.717cu.com/personal/services/estatements) - [Telephone Banking](https://www.717cu.com/personal/services/telephone-banking) - [Visa Account Updater](https://www.717cu.com/personal/services/visa-account-updater) - [Member Medicare Solutions](https://www.717cu.com/personal/services/member-medicare-solutions) - [Direct Deposit & Payroll Deduction](https://www.717cu.com/personal/services/direct-deposit-payroll-deduction) - [Transfers and Payments](https://www.717cu.com/personal/services/ach-transfers) - [Notary & Signature Services](https://www.717cu.com/personal/services/notary-signature-services) - [Business](https://www.717cu.com/business) - Checking & Savings - [Business Checking](https://www.717cu.com/business/checking-savings/business-checking) - [Business Debit Card](https://www.717cu.com/business/checking-savings/business-debit-card) - [Business Savings](https://www.717cu.com/business/checking-savings/business-savings) - [Business Money Market](https://www.717cu.com/business/checking-savings/business-money-market) - [Beneficial Owner](https://www.717cu.com/business/checking-savings/beneficial-owner) - Business Loans - [Commercial Mortgages](https://www.717cu.com/business/business-loans/commercial-mortgages) - [Term Loans](https://www.717cu.com/business/business-loans/term-loans) - [Credit Lines](https://www.717cu.com/business/business-loans/credit-lines) - [Business Visa® Platinum Credit Card](https://www.717cu.com/business/business-loans/business-visa-platinum-credit-card) - [How to Obtain a Business Loan](https://www.717cu.com/business/business-loans/how-to-obtain-a-business-loan) - [PPP Loan Forgiveness](https://www.717cu.com/business/business-loans/ppp-loan-forgiveness) - Services - [Online Banking](https://www.717cu.com/personal/services/online-banking) - [Mobile Banking](https://www.717cu.com/personal/services/mobile-banking) - [eStatements](https://www.717cu.com/personal/services/estatements) - [Small Business Payments](https://www.717cu.com/business/services/small-business-payments) - [Merchant Services](https://www.717cu.com/business/services/merchant-services) - [Small Business Center](https://www.717cu.com/business/services/small-business-center) - Expertise - [The Business Team](https://www.717cu.com/business/expertise/the-business-team) - [Resources](https://www.717cu.com/resources) - Tools - [Calculators](https://www.717cu.com/resources/tools/calculators) - [Rates](https://www.717cu.com/resources/tools/rates) - [Frequently Asked Questions](https://www.717cu.com/resources/tools/faqs) - [Forms & Disclosures](https://www.717cu.com/resources/tools/forms-disclosures) - [Money Management](https://www.717cu.com/personal/services/online-banking/money-management) - Education - [KOFE Financial Education](https://www.717cu.com/resources/education/kofe-financial-education) - [Financial Fundamentals Blog (opens in a new tab)](https://blog.717cu.com/resources/education/financial-education-blog?__hstc=234217473.5ce5ca83aec94dc370482447a8eb1769.1663874974684.1663874974684.1665604044292.2&__hssc=234217473.5.1665604044292&__hsfp=1364930272) - [Life Events](https://www.717cu.com/resources/education/life-events) - [Identity Theft & Fraud](https://www.717cu.com/resources/education/identity-theft-fraud) - [Financial Glossary](https://www.717cu.com/resources/education/financial-glossary) - [Sensitive Accounts](https://www.717cu.com/resources/education/sensitive-accounts) - [Elder Financial Exploitation](https://www.717cu.com/resources/education/elder-financial-exploitation) - [Avoiding the Monthly Service Fee](https://www.717cu.com/resources/education/avoiding-the-monthly-service-fee) - [Scholarships](https://www.717cu.com/resources/education/scholarships) - [About](https://www.717cu.com/about) - Connect - [Let's Start a Conversation](https://www.717cu.com/about/connect/start-a-conversation) - [Contact Us](https://www.717cu.com/about/connect/contact-us) - [Locations, PTMs & ATMs](https://www.717cu.com/about/connect/locations) - [Personal Teller Machines](https://www.717cu.com/about/connect/personal-teller-machines) - [Routing Number](https://www.717cu.com/about/connect/routing-number) - Explore - [Our Story](https://www.717cu.com/about/explore/our-story) - [Community Support](https://www.717cu.com/about/explore/community-support) - [Privacy Policy](https://www.717cu.com/privacy) - [Careers](https://www.717cu.com/about/explore/careers) - [Diversity](https://www.717cu.com/about/explore/diversity) - [Commercials](https://www.717cu.com/about/explore/commercials) - [Annual Report](https://www.717cu.com/about/explore/annual-report) - Membership - [Member Benefits](https://www.717cu.com/about/membership/member-benefits) - [Become a Member](https://www.717cu.com/about/membership/become-a-member) - [Our Partners](https://www.717cu.com/about/membership/our-partners) - What's New - [News](https://www.717cu.com/about/whats-new/news) - [Newsletters](https://www.717cu.com/about/whats-new/newsletter) - [Holiday Schedule](https://www.717cu.com/about/whats-new/holiday-schedule) - [Personal](https://www.717cu.com/personal) - [Business](https://www.717cu.com/business) - [Resources](https://www.717cu.com/resources) - [About](https://www.717cu.com/about) [Locations](https://www.717cu.com/about/connect/locations) [Contact](https://www.717cu.com/about/connect/contact-us) [Rates](https://www.717cu.com/resources/tools/rates) [Search](https://blog.717cu.com/resources/education/financial-education-blog/myths-busted-6-misconceptions-about-debt-consolidation#search-panel) [Download our Mobile App for the best experience ![](https://blog.717cu.com/Images/app-icon.png?v=f_ntFbV5mVaNH-Hg_hwIdmzDKApJs_w2vKKvDeaq6Zo)](https://www.717cu.com/personal/services/mobile-banking/mobile-banking-app) Online Banking Login Notice Enroll [Forgot Username/Password (opens in a new tab)](https://www.sscuonline.net/dbank/live/app/authUpdate) Financial Fundamentals Blog - [Home](https://www.717cu.com/) - [Resources](https://www.717cu.com/Resources) - Education - [Financial Fundamentals Blog](https://blog.717cu.com/resources/education/financial-education-blog) - **Myths Busted: 6 Misconceptions About Debt Consolidation** [Back to Blog](https://blog.717cu.com/resources/education/financial-education-blog) - March 16, 2022 - Francesca Sacco - [See all posts in Budgeting](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) # Myths Busted: 6 Misconceptions About Debt Consolidation ![GettyImages-1167473904-1](https://blog.717cu.com/hs-fs/hubfs/GettyImages-1167473904-1.jpeg?width=1200&name=GettyImages-1167473904-1.jpeg)   For consumers with existing debt that is too high for them to pay down, debt consolidation can become an attractive option for managing this debt and creating a path to becoming debt-free.   Before you start the debt consolidation process, though — or dismiss it as a poor option to address your specific debt challenges — it’s important to make sure you fully understand the opportunities and limitations of debt consolidation. Many consumers hold certain misconceptions about debt consolidation that pushes them away from a valuable financial service or lures them in with false expectations.   Let’s set the record straight on debt consolidation and how it can help your financial situation. Here are six common myths and the truth behind each. ## Myth No. 1: Most offers of debt consolidation are a scam. Consumers should always be on the lookout for scammers attempting to take advantage of unsuspecting debtholders. But many reputable financial institutions offer debt consolidation services that provide genuine value to consumers.    This can include both [debt consolidation products and other loans](https://www.717cu.com/Personal/Loans/Personal-Loans) as well as debt counseling to help you chart a course out of debt. Common debt-related scams include companies offering to reduce or wipe out your debt [in exchange for an upfront fee](https://www.ftc.gov/news-events/media-resources/consumer-finance/debt-relief-credit-repair-scams) or to quickly reduce damage to your credit suffered as a result of debt consolidation.   Be wary of companies that want upfront payment in exchange for future services. Despite these potential scams, many reputable companies offer debt consolidation to help you lower your monthly payments and your interest rate while clearing a path to greater financial freedom.   ## Myth No. 2: Consolidating debt reduces the amount you owe. While it’s technically true that debt consolidation can reduce what you ultimately pay by securing you a lower interest rate, it [doesn’t reduce the principal amount of debt](https://www.debt.org/consolidation/myths-and-facts/) you owe to your creditors.   Some creditors may offer to accept a smaller repayment amount in exchange for an upfront payment made in full. But most mechanisms to consolidate debt simply repackage this debt via a more consumer-friendly [loan or line of credit](https://www.717cu.com/Personal/Loans/Home-Equity-Loans-Lines), meaning the principal owed will be the same after consolidation as it was before.   ## Myth No. 3: Debt consolidation hurts your credit score. Hard credit inquiries — which will be required when applying for debt consolidation loans — may have a minor impact on your credit score. But these inquiries typically have a nominal impact due to the limited emphasis credit bureaus place on this activity.   Over time, debt consolidation may improve your credit score through on-time payments and fewer negative marks on your credit report. A lower debt utilization ratio, achieved incrementally as you pay down your debt, could also boost your credit score.   ## Myth No. 4: Debt consolidation is always cheaper than paying off your debt as quickly as possible. Debt consolidation doesn’t make sense for every consumer, which is why it’s important to calculate your estimated savings offered by [any consolidation option you choose](https://blog.717cu.com/resources/education/financial-education-blog/how-to-use-a-heloc-to-consolidate-your-debt).   If your existing debt is small and/or your interest rate on that debt is relatively low, the transfer fees and other costs associated with debt consolidation products may not make a big impact on what you ultimately pay. Use a [debt repayment or loan calculator](https://www.717cu.com/Resources/Tools/Calculators/Debt-Consolidation-Calculator) to figure out whether consolidation makes sense.   ## Myth No. 5: Debt consolidation is too expensive to save you money. While there may be some costs associated with consolidating your debt, the interest savings can be significant — especially if you’re consolidating debt from high-interest credit card balances to a loan charging only a fraction of that interest.   Debt consolidation fees are often nominal when transferring debt, making this affordable if these services can offer short- and/or long-term financial relief.   ## Myth No. 6: Debt consolidation is a long, difficult process. Although certain types of loan products can involve lengthy processing periods, many debt consolidation products and loans can be acquired [within a few days to a week](https://www.marketwatch.com/story/5-myths-about-debt-consolidation-2019-06-20). Depending on the amount of debt you’re looking to consolidate, this is often an easy process that can quickly deliver the financial relief you’re seeking through consolidation. Interested in exploring all of your options to find the most cost-effective option for debt consolidation? Your local credit union offers a number of resources and account specialists to help you evaluate your options and choose the best approach. Become a member today by [opening a checking account](https://oao.717cu.com/adexternal/default.aspx?_ga=2.151752318.638154118.1646520774-811524957.1643152297).   [![New call-to-action](https://no-cache.hubspot.com/cta/default/6651257/34096c16-fd41-4f67-b3aa-874627c119ec.png)](https://cta-redirect.hubspot.com/cta/redirect/6651257/34096c16-fd41-4f67-b3aa-874627c119ec) Share this Article: [![Share on Facebook](https://static.hubspot.com/final/img/common/icons/social/facebook-24x24.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.717cu.com%2Fresources%2Feducation%2Ffinancial-education-blog%2Fmyths-busted-6-misconceptions-about-debt-consolidation%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on LinkedIn](https://static.hubspot.com/final/img/common/icons/social/linkedin-24x24.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.717cu.com%2Fresources%2Feducation%2Ffinancial-education-blog%2Fmyths-busted-6-misconceptions-about-debt-consolidation%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on Twitter](https://blog.717cu.com/hs-fs/hubfs/2022%20Website%20Refresh/twitter-x-37x37.png?width=24&name=twitter-x-37x37.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.717cu.com%2Fresources%2Feducation%2Ffinancial-education-blog%2Fmyths-busted-6-misconceptions-about-debt-consolidation%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.717cu.com%2Fresources%2Feducation%2Ffinancial-education-blog%2Fmyths-busted-6-misconceptions-about-debt-consolidation%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=Myths%20Busted%3A%206%20Misconceptions%20About%20Debt%20Consolidation) ### Subscribe to the 7 17 Credit Union Blog ### Categories: - [7 17 Credit Union (46)](https://blog.717cu.com/resources/education/financial-education-blog/tag/7-17-credit-union) - [Auto Loans (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/auto-loans) - [Budgeting (61)](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) - [Business (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/business) - [Charitable Giving (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/charitable-giving) - [Checking Accounts (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/checking-accounts) - [COVID-19 (7)](https://blog.717cu.com/resources/education/financial-education-blog/tag/covid-19) - [Credit Cards (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/credit-cards) - [Credit Report (16)](https://blog.717cu.com/resources/education/financial-education-blog/tag/credit-report) - [Debt Consolidation (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/debt-consolidation) - [Digital Wallets (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/digital-wallets) - [e-Statement (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/e-statement) - [Financial Literacy Month (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/financial-literacy-month) - [Financial Security (10)](https://blog.717cu.com/resources/education/financial-education-blog/tag/financial-security) - [Fraud and Identity Theft (26)](https://blog.717cu.com/resources/education/financial-education-blog/tag/fraud-and-identity-theft) - [HELOC (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/heloc) - [Holiday Shopping (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/holiday-shopping) - [Home Equity Line Of Credit (3)](https://blog.717cu.com/resources/education/financial-education-blog/tag/home-equity-line-of-credit) - [KOFE (17)](https://blog.717cu.com/resources/education/financial-education-blog/tag/kofe) - [Life Events (48)](https://blog.717cu.com/resources/education/financial-education-blog/tag/life-events) - [Money-Saving Tips (57)](https://blog.717cu.com/resources/education/financial-education-blog/tag/money-saving-tips) - [Other Vehicle Loans (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/other-vehicle-loans) - [Personal Loan (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/personal-loan) - [Purchasing a Home (13)](https://blog.717cu.com/resources/education/financial-education-blog/tag/purchasing-a-home) - [Scholarships (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/scholarships) - [Tax Tips (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/tax-tips) See all ## Related Articles ### [How to Manage Your Money Wisely](https://blog.717cu.com/resources/education/financial-education-blog/how-to-manage-your-money-wisely) - July 7, 2025 - 7 17 Staff - [See all posts in Budgeting](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) - [See all posts in Money-Saving Tips](https://blog.717cu.com/resources/education/financial-education-blog/tag/money-saving-tips) ### [Financial Challenges: Expert Ways to Ease Money Worries](https://blog.717cu.com/resources/education/financial-education-blog/handling-financial-stress) - March 13, 2025 - 7 17 Staff - [See all posts in Life Events](https://blog.717cu.com/resources/education/financial-education-blog/tag/life-events) - [See all posts in KOFE](https://blog.717cu.com/resources/education/financial-education-blog/tag/kofe) - [See all posts in Budgeting](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) ### [How to Budget for a Vacation Without Breaking the Bank](https://blog.717cu.com/resources/education/financial-education-blog/vacation-budgeting) - March 13, 2025 - Francesca Sacco - [See all posts in Budgeting](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) - [See all posts in Money-Saving Tips](https://blog.717cu.com/resources/education/financial-education-blog/tag/money-saving-tips) ### Subscribe to the 7 17 Credit Union Blog ### Categories - [7 17 Credit Union (46)](https://blog.717cu.com/resources/education/financial-education-blog/tag/7-17-credit-union) - [Auto Loans (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/auto-loans) - [Budgeting (61)](https://blog.717cu.com/resources/education/financial-education-blog/tag/budgeting) - [Business (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/business) - [Charitable Giving (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/charitable-giving) - [Checking Accounts (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/checking-accounts) - [COVID-19 (7)](https://blog.717cu.com/resources/education/financial-education-blog/tag/covid-19) - [Credit Cards (6)](https://blog.717cu.com/resources/education/financial-education-blog/tag/credit-cards) - [Credit Report (16)](https://blog.717cu.com/resources/education/financial-education-blog/tag/credit-report) - [Debt Consolidation (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/debt-consolidation) - [Digital Wallets (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/digital-wallets) - [e-Statement (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/e-statement) - [Financial Literacy Month (5)](https://blog.717cu.com/resources/education/financial-education-blog/tag/financial-literacy-month) - [Financial Security (10)](https://blog.717cu.com/resources/education/financial-education-blog/tag/financial-security) - [Fraud and Identity Theft (26)](https://blog.717cu.com/resources/education/financial-education-blog/tag/fraud-and-identity-theft) - [HELOC (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/heloc) - [Holiday Shopping (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/holiday-shopping) - [Home Equity Line Of Credit (3)](https://blog.717cu.com/resources/education/financial-education-blog/tag/home-equity-line-of-credit) - [KOFE (17)](https://blog.717cu.com/resources/education/financial-education-blog/tag/kofe) - [Life Events (48)](https://blog.717cu.com/resources/education/financial-education-blog/tag/life-events) - [Money-Saving Tips (57)](https://blog.717cu.com/resources/education/financial-education-blog/tag/money-saving-tips) - [Other Vehicle Loans (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/other-vehicle-loans) - [Personal Loan (1)](https://blog.717cu.com/resources/education/financial-education-blog/tag/personal-loan) - [Purchasing a Home (13)](https://blog.717cu.com/resources/education/financial-education-blog/tag/purchasing-a-home) - [Scholarships (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/scholarships) - [Tax Tips (4)](https://blog.717cu.com/resources/education/financial-education-blog/tag/tax-tips) See all Respectfully. Yours. [Become a Member](https://www.717cu.com/about/membership/become-a-member) [Contact Us](https://www.717cu.com/about/connect/contact-us) [Locations, PTMs & ATMs](https://www.717cu.com/about/connect/locations) 7 17 Credit Union 3181 Larchmont Ave NE Warren, OH 44483 Phone: 800-775-7741 Routing Number: 241282849 [(opens in a new tab)](https://www.facebook.com/717cu) [(opens in a new tab)](https://x.com/717cu) [(opens in a new tab)](https://www.instagram.com/717creditunion/) [(opens in a new tab)](https://www.linkedin.com/company/717cu) [(opens in a new tab)](https://www.youtube.com/user/sevenseventeencu) - Get Started - [Open an Account (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) - [Schedule an Appointment (opens in a new tab)](https://717cu.coconutcalendar.com/service) - [View Current Rates](https://www.717cu.com/resources/tools/rates) - [Careers](https://www.717cu.com/about/explore/careers) - Apply for a Loan - [Mortgages (opens in a new tab)](https://717cu.mortgagewebcenter.com/Account/Login?ReturnUrl=%2fApplyNow&_ga=2.252254721.967274271.1663012043-639871674.1659021833&_gl=1*tjc8ub*_ga*NjM5ODcxNjc0LjE2NTkwMjE4MzM.*_ga_HXKHCYPXRE*MTY2MzAxMjA0My4yOC4xLjE2NjMwMTI4NDguMC4wLjA.) - [Other Loans (opens in a new tab)](https://717cu.loanspq.com/apply.aspx?lenderref=717cu032823&list=XASACCPLVLHESTCB) - [Credit Cards (opens in a new tab)](https://717cu.loanspq.com/cc/CreditCard.aspx?lenderref=717cu032823) 7 17 Credit Union is a local, community-minded credit union in Ohio offering valuable personal and business banking solutions including checking accounts, savings accounts, auto loans, mortgages, home equity loans, HELOCs, credit and debit cards and much more. Bank online, with our mobile app, or visit one of our conveniently located branches in [Austintown](https://www.717cu.com/about/connect/locations/austintown-branch), [Boardman](https://www.717cu.com/about/connect/locations/boardman-branch), [Canfield](https://www.717cu.com/about/connect/locations/canfield-branch), [Canton](https://www.717cu.com/about/connect/locations/canton-branch), [Cortland](https://www.717cu.com/about/connect/locations/cortland-branch), [Howland](https://www.717cu.com/about/connect/locations/howland-branch), [Hubbard](https://www.717cu.com/about/connect/locations/hubbard-branch), [Kent](https://www.717cu.com/about/connect/locations/kent-branch), [Ravenna](https://www.717cu.com/about/connect/locations/ravenna-branch), [Vienna](https://www.717cu.com/about/connect/locations/vienna-branch), [Warren (Downtown)](https://www.717cu.com/about/connect/locations/downtown-warren-branch), and [Warren (Larchmont)](https://www.717cu.com/about/connect/locations/warren-larchmont-branch). [![Download on the App Store](https://blog.717cu.com/hubfs/2022%20Website%20Refresh/app-store.svg?v=TJrQMXGMiczZ7osFYSbZ9gvNaPWbkz57vG8kWJr3jIE) (opens in a new tab)](https://apps.apple.com/us/app/seven-seventeen-credit-union/id889955170) [![Get it on Google Play](https://blog.717cu.com/hubfs/2022%20Website%20Refresh/google-play.svg?v=bTO_h4fZa_i12-VduZXDF9AScu7nma0-cAmzocKn2QA) (opens in a new tab)](https://play.google.com/store/apps/details?id=com.ifs.banking.fiid1141) [![Equal Housing Lender](https://blog.717cu.com/hubfs/2022%20Website%20Refresh/ehl.svg)](https://www.717cu.com/resources/tools/forms-disclosures/fair-housing-notice) [![NCUA](https://blog.717cu.com/hubfs/2022%20Website%20Refresh/ncua.svg)](https://www.ncua.gov/Pages/default.aspx) 7 17 Credit Union is federally insured by the National Credit Union Administration. © 2026 7 17 Credit Union. All rights reserved. [Sitemap](https://www.717cu.com/sitemap) [Privacy Policy](https://www.717cu.com/privacy) [Website Accessibility](https://www.717cu.com/website-accessibility) Site Designed by [ZAG Interactive (opens in a new tab)](https://www.zaginteractive.com) Login Alert Title (optional) Close Lorem ipsum is simply [dummy text](http://#) of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. You are about to leave the 7 17 website Close 7 17 Credit Union does not own or operate the linked website and is not responsible for the content of the website. 7 17 does not make any guarantees or endorsements of products that may be available on the linked website. 7 17 does not represent either you or the other party if you enter into a transaction on the website. Privacy and security policies may differ from those practiced by 7 17. Continue Submit search