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Personal loans that can help you take care of unexpected expenses are available online, but if you’re wondering, “Are there personal loan places near me?” The answer is yes.

If your credit is sound, you can get a cash loan nearby from a source you might not have considered: your local bank or credit union.

Using your bank for a personal loan can often result in a smaller origination fee and lower interest rate payments.

For example, U.S. Bank offers personal loans to its customers only. The loan amounts can vary from $3,000 to $25,000 with a fixed interest rate and monthly payments. Applicants are asked to provide income and employment information, particularly for loans exceeding $15,000.

U.S. Bank loans are unsecured, payment terms can be flexible, and will not include annual fees charged by some credit card companies. Many banks provide similar terms for their customers, thus providing an inexpensive option for debt repayment or other financial needs.

Other banks offer personal loans to non-customers, but you may be required to open a checking or savings account at the bank as part of the loan process.

Credit unions also provide unsecured personal loans, but limit them to their members. Depending on the terms of memberships, you may be able to join a credit union. Be aware there may be a waiting period before you can use all the products available to their members, including personal loans.

The benefits of using a local bank or credit union can be measured in terms of your interest payment. Many banks put a limit on the amount of interest that can be charged for a personal loan, regardless of credit scores. However, if your credit is poor, the bank or credit union may decide not to extend a loan to you.

Additionally, there are more regulations governing the operations of a bank or credit union, which can offer additional protection to consumers. Depending on the institution, there may also be payment flexibility. For example, the Delta Community Credit Union offers a payment holiday option on their loans. The terms for this payment holiday include having the loan for six months. With this institution and most others, the interest will continue to accrue throughout any deferment or payment holiday. The maturity date of the loan may also be extended as part of the payment deferment process.

Banks and credit unions may also offer credit insurance, which pays off most or all of the loan in case of your death or disability. Other financial hardships may also be covered by this insurance.

Be sure you understand all the terms of the insurance, including if you can pay in monthly installments instead of financing the premium in your loan. A lender can offer insurance, but cannot require you to sign up for it as a condition of funding your loan. Lenders are prohibited from adding other optional products to your loan without your knowledge, so be sure to read all your loan papers carefully.

If you’re looking for cash loans near you, banks and credit unions are typically a consumer-friendly option for borrowing money. But it’s still important to read all the paperwork and understand your obligations under the borrowing agreement.

Credible is a multi-lender marketplace where lenders including Avant, LendingClub, Prosper and Upstart compete for your business. You can compare personal loan offers from multiple lenders on without sharing your personal information with lenders or affecting your credit score. Tracy Sherwood-Knepple is a business and finance writer. She holds a degree in mass communications from Indiana University.