Frankenmuth CU Personal Loans

Frankenmuth CU Personal Loans Review

Frankenmuth CU Personal Loans is offered by Frankenmuth Credit Union, a credit union founded in 1964 and based in Frankenmuth, MI. Frankenmuth CU Personal Loans are available in 50 states (and Washington, DC).

Key Takeaways

• Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 5% and 36%. The starting rates for Frankenmuth CU Personal Loans are on the higher end of the market.
• Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your Frankenmuth CU Personal Loans early.

Frankenmuth CU Personal Loans Pros & Cons

Frankenmuth CU Personal Loans FAQ

What interest rates and personal loan terms does Frankenmuth CU Personal Loans offer?

Frankenmuth CU Personal Loans has higher than average interest rates for lenders reviewed on SuperMoney.

What fees does Frankenmuth CU Personal Loans charge?

What do you need to qualify for Frankenmuth CU Personal Loans?

Frankenmuth CU Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Frankenmuth CU Personal Loans only considers borrowers who are employed.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Frankenmuth CU Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Frankenmuth CU Personal Loans.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Proof of identity
• Proof of citizenship or residence permit

Does Frankenmuth CU Personal Loans report your account activity to credit bureaus?

Yes, Frankenmuth CU Personal Loans reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Are Frankenmuth CU Personal Loans legit?

Frankenmuth Credit Union was founded in 1964, it is a well-established company that has been in business for 59 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.