Personal Lending

Ann Arbor State Bank offers a complete range of retail loans designed to help you achieve your objectives — whether that’s a new car, a new master suite, access to loans for college tuition, or practically anything in-between.

Simply write a check against your Ann Arbor State Bank Home Equity Line of Credit to:

  • Make home improvements
  • Consolidate bills
  • Take a vacation
  • Pay for college tuition

Home Equity and Bridge Loans let you use the equity in your home to manage life’s financial decisions when you need extra cash. Whether it’s paying for college, home improvement or using the equity in your home to purchase a new or vacation home, the equity in your home can provide you with a powerful tool to meet your financial needs.

  • Quick local decisions
  • No fee for checks
  • Online Banking-Bill Pay
  • Interest only payments, with a balloon payment at maturity
  • No prepayment penalty
  • Name * Required
  • This field is for validation purposes and should be left unchanged.

Contact our Consumer lending Team Directly:

Tim Berry - Assistant Vice President, Branch Manager
Tim Berry
(734) 418-0584
NMLS: 613345
Chris Baker - Assistant Branch Manager
Chris Baker
(734) 418-0581
NMLS: 1391586
Brooke Parrish - Private Banker
Brooke Parrish
(734) 418-0587
NMLS: 746546

If you are faced with unexpected expenses, a competitively priced personal loan from Ann Arbor State Bank may help. Both secured (borrowed against collateral) and unsecured (no collateral) personal loans are available to qualified borrowers.

Sometimes you just need someone to talk to about your financial needs. Our personal loan specialists have the time to listen and answer your questions. They can suggest solutions that meet your needs. We offer loans that work for you:

  • Autos
  • Boats
  • Credit Builder Loan
  • Personal Watercraft
  • CD secured loans
  • Unsecured
  • Name * Required
  • This field is for validation purposes and should be left unchanged.

Contact our Consumer lending Team Directly:

Tim Berry
(734) 418-0584
NMLS: 613345
Chris Baker
(734) 418-0581
Brooke Parrish
(734) 418-0587
NMLS# 746546

1. Why do I need good credit?
To secure a better rate on a car or mortgage, you need a history of paying back loans and your monthly bills on time.

2. How do I get that first loan without a credit score?
A Credit Builder – CD Secured loan from Ann Arbor State Bank is a solid choice for that first loan to help you establish your credit. This loan lets you start building a relationship with a local lender in Ann Arbor, while helping to build a positive credit history at the same time.

3. How does a Credit Builder loan work?
Ann Arbor State Bank makes the loan to you and places your loan proceeds in a Certificate of Deposit that matches your loan term. The CD is collateral for the loan, and you won’t have access to it. You will pay the loan off over a period of time (minimum 12 months – maximum 5 years). We can find a payment schedule that works for you. Call us for details on the minimum and maximum loan amounts available.

4. How do I make my payments ?
Monthly payments can be processed through automatic deduction, on-line banking, in the branch, or by mail. We will work with you to set up a payment method that works for you.

5. What happens when the loan term is done?
After paying the principal amount of the loan in full, the proceeds of the CD and any earned interest will be turned over to you. You have made payments on a loan that should assist you in building your credit history.

6. What if I don’t make my payments?
As you make the principal payments on the loan, you reduce the principal balance that you owe to Ann Arbor State Bank. As the principal balance decreases, the amount of the CD needed as collateral for the loan also decreases.

If you stop making payments on your loan, you will be in default of the loan. When that happens, Ann Arbor State Bank will take money from the CD and apply it to your loan balance. The remaining amount will be turned over to you. You will also receive the interest earned on the CD. We will work with you to encourage you to keep making payments on your loan. However, if your default (failure to make a payment) lasts more than 15 days, Ann Arbor State Bank may take the action described to pay-off your loan. Ann Arbor Sate Bank will take this action before it is required to report your default to a credit bureau, so that you get credit for the payment history you established for the loan.

7. What are the other terms of the loan?
The loan has a very attractive interest rate (call us for details). There is no money down and no fees. Monthly payment is determined by the amount borrowed, the interest rate and the length of the loan. Payments are reported to major credit bureaus. There are no origination fees or pre-payment penalties.

8. Other Important Things to Remember About Your Credit Score
Many factors have an effect on your credit score, both positive and negative. If you don’t pay other loans or bills while you have your Credit Builder loan, your credit score may not improve. It is important that you handle your other financial matters appropriately.

9. Free Credit Report
You can always obtain a free copy of your credit report, or call1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can obtain additional copies of your credit report from a credit bureau, for which you may be charged a reasonable fee.

10. Eligibility Requirements.
Participation in the Credit Builder program is subject to credit approval. Ask us for details.


  • Periodic checkups with branch and credit score monitoring.
  • Referrals to Financial Counseling partners.
  • The potential to establish good credit.
  • The ability to get the proceeds of the CD when the loan is paid.

Apply for your no annual fee Ann Arbor State Bank VISA® card and enjoy worldwide purchasing power. Our low interest, high credit limit options make an Ann Arbor State Bank VISA the smart choice for savvy consumers.*

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Visa Platinum Consumer Credit Card
Reward points for merchandise and travel. No blackout dates.
Competitive rates – click on above link to view Important Disclosures.
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*The Ann Arbor State Bank VISA ® is provided by TCM Bank, N.A.. Applications are submitted to TCM Bank, N.A. for credit approval, and the credit card account is issued by TCM Bank, N.A.

There are many ways to pay for the cost of a higher education. After considering all your federal loans, scholarships and grants you may still have a gap you need to cover to pay your total college costs.

Ann Arbor State Bank works with the iHELP® Student Loan program* to provide you an attractive private student loan that can help you to cover that gap.

  • Competitive interest rates
  • No origination or repayment fees
  • Flexible repayment options
  • Easy to apply and responsive customer service

iHELP® helps to meet your financing needs for college.

iHelp is a registered trademark of Student Loan Finance Corporation. Applications are submitted to, and loans provided by, Student Loan Finance Corporation.

Apply for a Student Loan Now

iHELP Private Student Loans* available through Ann Arbor State Bank:

There are many ways to pay the cost of college.  After considering or receiving federal loans, scholarships and grants you may still have a gap to pay your total college costs.  Ann Arbor State Bank works with iHELP® to make private student loans available to you. Applying for an iHELP® Loan is easy and takes as little as 15 minutes.

iHelp® is a registered trademark of Student Loan Finance Corporation. Applications for private student loans are submitted to Student Loan Finance Corporation, and Student Loan Finance Corporation is the creditor for these loans.

Lean More About Student Loans

Fixed Rate Private Consolidation Loans for College Graduates available through Ann Arbor State Bank:

iHELP® Student Loans* offers Private Student Loan Consolidation  for college graduates.  Consolidating your private student loans is a great way to reduce your monthly payments and simplify your life.