Is MWRD Employees CU InstantLoan the right fit for you?
Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
25.00%(Verified 08/02/2024)
Amount Range
$500 - $2,000
Loan Term (Months)
3 - 9
MWRD Employees CU InstantLoan Review
MWRD Employees CU InstantLoan is offered by MWRD Employees Credit Union, a credit union founded in 1953 and based in Chicago, IL. MWRD Employees CU InstantLoan are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- APRs starting at 25.00%. Personal loan interest rates typically range between 9% and 36%. The starting rates for MWRD Employees CU InstantLoan are on the higher end of the spectrum.
- Small-dollar loans. MWRD Employees CU InstantLoan has a maximum loan amount of just $2,000.00 .
- Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for MWRD Employees CU InstantLoan.
- Short loan terms. MWRD Employees CU InstantLoan have loan terms as short as 3 months.
MWRD Employees CU InstantLoan Pros & Cons
| Pros | Cons |
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MWRD Employees CU InstantLoan FAQ
What interest rates and personal loan terms does MWRD Employees CU InstantLoan offer?
MWRD Employees CU InstantLoan has higher than average interest rates for lenders reviewed on SuperMoney.
What interest rates does MWRD Employees CU InstantLoan offer?
MWRD Employees CU InstantLoan offers a fixed APR personal loan product of 25.00%.
How much can you borrow via MWRD Employees CU InstantLoan?
Personal loan amounts start at $500.00 and go up to $2,000.00
What is the maximum loan term you can get with MWRD Employees CU InstantLoan?
MWRD Employees CU InstantLoan offers loans with terms of up to 9 months.
| Personal Loan Amount | $500.00 - $2000.00 |
| Loan Term | 3 - 9 months |
| APR | 25.00% |
What fees does MWRD Employees CU InstantLoan charge?
Does MWRD Employees CU InstantLoan charge an origination fee?
MWRD Employees CU InstantLoan may charge a personal loan origination fee .
Does MWRD Employees CU InstantLoan charge a late fee?
MWRD Employees CU InstantLoan does not disclose whether it charges late payment fees.
Does MWRD Employees CU InstantLoan charge prepayment fees?
No, MWRD Employees CU InstantLoan 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 MWRD Employees CU InstantLoan?
MWRD Employees CU InstantLoan 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. MWRD Employees CU InstantLoan 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 MWRD Employees CU InstantLoan.
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 MWRD Employees CU InstantLoan report your account activity to credit bureaus?
Yes, MWRD Employees CU InstantLoan 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 MWRD Employees Credit Union perform a hard credit pull?
Yes, MWRD Employees CU InstantLoan 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 MWRD Employees CU InstantLoan legit?
MWRD Employees’ Credit Union was founded in 1953, it is a well-established company that has been in business for 73 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
SundayClosedMonday9:00AM - 3:00PMTuesday9:00AM - 3:00PMWednesdayClosedThursday9:00AM - 3:00PMFriday9:00AM - 3:00PMSaturdayClosed
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Other Personal Loans from MWRD Employees Credit Union
Rating not yet determined
APR
4.90% - 16.90%
Disclaimer popup with additional information
Amount Range
$1,000 - $5,000
Loan Term (Months)
12
Rating not yet determined
APR
6.90% - 21.90%
Disclaimer popup with additional information
Amount Range
N/A
Loan Term (Months)
Up to 60
Rating not yet determined
APR
2.05%
Disclaimer popup with additional information
Amount Range
N/A
Loan Term (Months)
Up to 60
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Learn MoreSuperMoney Net Recommendation Score
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