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  MembersFirst Credit Union Share Secured Loan

MembersFirst Credit Union Share Secured Loan

in Personal Loans from MembersFirst Credit Union

Unaffiliated

MembersFirst Credit Union Share Secured Loan

Unaffiliated

in Personal Loans from MembersFirst Credit Union

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Highlights
APR  (Fixed APR) Starting at 2.50%
Loan Amount N/A
Loan Term (Months) 6 - 36 months

MembersFirst Credit Union Share Secured Loan Review

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

Key Takeaways
  • APRs starting at 2.50%. Personal loan interest rates typically range between 5% and 36%. The starting rates for MembersFirst Credit Union Share Secured Loan are on the lower end of the spectrum.
  • Hard credit pull required. You can't check your rates or see if you prequalify for MembersFirst Credit Union Share Secured 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 Share Secured Loan early.
  • Short loan terms. MembersFirst Credit Union Share Secured Loan offers loan terms as short as 6 months. Most personal loans have a minimum term of 12 to 36 months.
MembersFirst Credit Union Share Secured Loan Pros & Cons
Pros Cons
  • Low APRs available to qualified borrowers.
  • 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 Share Secured Loan FAQ

What rates and terms does MembersFirst Credit Union Share Secured Loan offer?

MembersFirst Credit Union Share Secured Loan has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does MembersFirst Credit Union Share Secured Loan offer?

MembersFirst Credit Union Share Secured Loan offers a fixed APR personal loan product that starts at 2.50% APR.

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

MembersFirst Credit Union Share Secured Loan offers personal loans with terms ranging from 6 to 36 months.

MembersFirst Credit Union Share Secured Loan Rates & Terms
Loan Amount N/A
Loan Term 6 - 36 months
APR Starting at 2.50%

What fees does MembersFirst Credit Union Share Secured Loan charge?

Does MembersFirst Credit Union Share Secured Loan charge an origination fee?

MembersFirst Credit Union Share Secured Loan may charge a loan origination fee.

Does MembersFirst Credit Union Share Secured Loan charge a late fee?

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

Does MembersFirst Credit Union Share Secured Loan charge prepayment fees?

Yes, MembersFirst Credit Union Share Secured 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 Share Secured Loan Fees
Origination Fee N/A
Prepayment Fee? Yes
Late Payment Fee N/A

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

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

MembersFirst Credit Union Share Secured Loan does not have or does not disclose a minimum annual income eligibility requirement. MembersFirst Credit Union Share Secured 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 Share Secured 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 Share Secured 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 Share Secured Loan Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Individual Applications
  • Credit Score 600 - 850

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

    Yes, MembersFirst Credit Union Share Secured 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.

    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.

    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
    Joint Loan Applications Accepted
    • Individual Applications
    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
    APR (Fixed APR) Starting at 2.50%
    Loan Term 6 - 36 months

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