Banks and credit unions are two of the most common sources of consumer and business loans. These loans may be secured or unsecured, and may take the form of home mortgages, home equity loans, installment loans (loans repaid in monthly installments), auto loans, student loans, and credit cards.

In Pennsylvania, banks and credit unions are regulated entities that offer various types of loans to consumers and businesses. These loans can be either secured, with collateral such as property or a vehicle, or unsecured, without collateral. Home mortgages and home equity loans are secured by the borrower's property. Installment loans, such as personal loans, are repaid over time with set monthly payments and can be either secured or unsecured. Auto loans are typically secured by the vehicle being purchased. Student loans can be federal or private, with federal loans offering more flexible repayment options and protections. Credit cards represent a form of unsecured revolving credit, allowing borrowers to use funds up to a certain limit and pay back over time. Pennsylvania follows both state statutes and federal laws, including the Truth in Lending Act (TILA), which requires lenders to disclose terms and costs of loans, and the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination. State banking regulations are overseen by the Pennsylvania Department of Banking and Securities, which ensures financial institutions comply with applicable laws and operate in a safe and sound manner.