Is Magnolia FCU Short Term Small Dollar Loans the right fit for you?
Last Updated: 04/18/2025
Magnolia FCU Short Term Small Dollar Loans
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Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
28.00%(Verified 06/21/2024)
Amount Range
N/A
Loan Term (Months)
Up to 3
Magnolia FCU Short Term Small Dollar Loans Review
Magnolia FCU Short Term Small Dollar Loans is offered by Magnolia Federal Credit Union, a credit union founded in 1935 and based in Jackson, MS. Magnolia FCU Short Term Small Dollar Loans are available in 50 states and Washington, DC.
Key Takeaways
- APRs starting at 28.00%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Magnolia FCU Short Term Small Dollar Loans are on the higher end of the spectrum.
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Magnolia FCU Short Term Small Dollar Loans.
Magnolia FCU Short Term Small Dollar Loans Pros & Cons
| Pros | Cons |
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Magnolia FCU Short Term Small Dollar Loans FAQ
What interest rates and personal loan terms does Magnolia FCU Short Term Small Dollar Loans offer?
Magnolia FCU Short Term Small Dollar Loans has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does Magnolia FCU Short Term Small Dollar Loans offer?
Magnolia FCU Short Term Small Dollar Loans offers a fixed APR personal loan product of 28.00%.
What is the maximum loan term you can get with Magnolia FCU Short Term Small Dollar Loans?
Magnolia FCU Short Term Small Dollar Loans offers loans with terms of up to 3 months.
| Personal Loan Amount | N/A |
| Loan Term | up to 3 months |
| APR | 28.00% |
What fees does Magnolia FCU Short Term Small Dollar Loans charge?
Does Magnolia FCU Short Term Small Dollar Loans charge an origination fee?
Magnolia FCU Short Term Small Dollar Loans may charge a personal loan origination fee .
Does Magnolia FCU Short Term Small Dollar Loans charge a late fee?
Magnolia FCU Short Term Small Dollar Loans does not disclose whether it charges late payment fees.
Does Magnolia FCU Short Term Small Dollar Loans charge prepayment fees?
No, Magnolia FCU Short Term Small Dollar Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | N/A |
| Late Payment Fee | No |
What do you need to qualify for Magnolia FCU Short Term Small Dollar Loans?
Magnolia FCU Short Term Small Dollar Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Magnolia FCU Short Term Small Dollar Loans does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Magnolia FCU Short Term Small Dollar Loans.
To qualify, applicants may need to provide the following documentation:
- Driver's license or other government photo ID
- Government issued photo ID
- Proof of identity
| Minimum Age | 18 |
| Bank Account Required? | No |
| Application Types Accepted |
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| Credit Score | N/A |
Does Magnolia FCU Short Term Small Dollar Loans report your account activity to credit bureaus?
Yes, Magnolia FCU Short Term Small Dollar Loans reports to the following credit bureaus:
- 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 build your credit.
Does Magnolia Federal Credit Union perform a hard credit pull?
Yes, Magnolia FCU Short Term Small Dollar Loans performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Are Magnolia FCU Short Term Small Dollar Loans legit?
Magnolia Federal Credit Union was founded in 1935, it is a well-established company that has been in business for 91 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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Hours of Operation
SundayClosedMonday8:00AM - 4:30PMTuesday8:00AM - 4:30PMWednesday8:00AM - 4:30PMThursday8:00AM - 4:30PMFriday8:00AM - 5:30PMSaturdayClosed
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