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  MembersFirst Credit Union Credit Establishing Loan

MembersFirst Credit Union Credit Establishing Loan

in Personal Loans from MembersFirst Credit Union

Unaffiliated

MembersFirst Credit Union Credit Establishing Loan

Unaffiliated

in Personal Loans from MembersFirst Credit Union

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Highlights
APR  (Fixed APR) Starting at 12.00%
Loan Amount Up to $25,000
Loan Term (Months) Up to 18 months

MembersFirst Credit Union Credit Establishing Loan Review

MembersFirst Credit Union Credit Establishing Loan is offered by MembersFirst Credit Union, a credit union founded in 1953 and based in Decatur, GA. MembersFirst Credit Union Credit Establishing Loan is available in 1 state across the USA.

Key Takeaways
  • APRs starting at 12.00%. Personal loan interest rates typically range between 5% and 36%. The starting rates for MembersFirst Credit Union Credit Establishing Loan are on the higher end of the spectrum.
  • Hard credit pull required. You can't check your rates or see if you prequalify for MembersFirst Credit Union Credit Establishing Loan without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your MembersFirst Credit Union Credit Establishing Loan early.
MembersFirst Credit Union Credit Establishing Loan Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Charges an origination fee.
  • Do not offer pre-approval with soft credit pull.
  • Charges prepayment fees.
  • Charges a late fee.
MembersFirst Credit Union Credit Establishing Loan FAQ

What rates and terms does MembersFirst Credit Union Credit Establishing Loan offer?

MembersFirst Credit Union Credit Establishing Loan has higher interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does MembersFirst Credit Union Credit Establishing Loan offer?

MembersFirst Credit Union Credit Establishing Loan offers a fixed APR personal loan product that starts at 12.00% APR.

What is the maximum loan term you can get with MembersFirst Credit Union Credit Establishing Loan?

MembersFirst Credit Union Credit Establishing Loan offers personal loans with

MembersFirst Credit Union Credit Establishing Loan Rates & Terms
Loan Amount up to $25000
Loan Term up to 18 months
APR Starting at 12.00%

What fees does MembersFirst Credit Union Credit Establishing Loan charge?

Does MembersFirst Credit Union Credit Establishing Loan charge an origination fee?

MembersFirst Credit Union Credit Establishing Loan may charge a loan origination fee.

Does MembersFirst Credit Union Credit Establishing Loan charge a late fee?

Yes, MembersFirst Credit Union Credit Establishing Loan may charge borrowers a late payment fee.

Does MembersFirst Credit Union Credit Establishing Loan charge prepayment fees?

Yes, MembersFirst Credit Union Credit Establishing Loan may charge additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

MembersFirst Credit Union Credit Establishing Loan Fees
Origination Fee N/A
Prepayment Fee? Yes
Late Payment Fee N/A

What do you need to qualify for MembersFirst Credit Union Credit Establishing Loan?

Applicants with a credit score of at least 600 and up to 850 may be eligible for MembersFirst Credit Union Credit Establishing Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

MembersFirst Credit Union Credit Establishing Loan does not have or does not disclose a minimum annual income eligibility requirement. MembersFirst Credit Union Credit Establishing Loan 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 MembersFirst Credit Union Credit Establishing Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by MembersFirst Credit Union Credit Establishing Loan. Permanent resident / green card holders are also eligible to apply.

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

  • Recent pay stubs
  • Proof of income
  • Recent bank statements
  • Driver's license
  • Government issued photo ID
  • Proof of identity
MembersFirst Credit Union Credit Establishing Loan Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Credit Score 600 - 850

Does MembersFirst Credit Union Credit Establishing Loan report your account activity to credit bureaus?

Yes, MembersFirst Credit Union Credit Establishing Loan 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.

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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.

Availability

  Available in 1 state
Georgia
Availabile in all of Georgia

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Credit Score Range 600 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options Automatic Payments
Loan Amount Up to $25,000
APR (Fixed APR) Starting at 12.00%
Loan Term Up to 18 months

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