Last Updated: 04/18/2025
MWRD Employees CU MyChoice Loan
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
4.90% - 16.90%(Verified 08/02/2024)
Amount Range
$1,000 - $5,000
Loan Term (Months)
12
MWRD Employees CU MyChoice Loan Review
MWRD Employees CU MyChoice Loan is offered by MWRD Employees Credit Union, a credit union founded in 1953 and based in Chicago, IL. MWRD Employees CU MyChoice Loan are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- APRs starting at 4.90%. Personal loan interest rates typically range between 9% and 36%. The starting rates for MWRD Employees CU MyChoice Loan are on the lower end of the spectrum.
MWRD Employees CU MyChoice Loan Pros & Cons
| Pros | Cons |
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MWRD Employees CU MyChoice Loan FAQ
What interest rates and personal loan terms does MWRD Employees CU MyChoice Loan offer?
MWRD Employees CU MyChoice Loan has lower than average interest rates for lenders reviewed on SuperMoney.
What interest rates does MWRD Employees CU MyChoice Loan offer?
MWRD Employees CU MyChoice Loan offers a fixed APR personal loan product that ranges from 4.90% APR up to 16.90% APR.
How much can you borrow via MWRD Employees CU MyChoice Loan?
Personal loan amounts start at $1,000.00 and go up to $5,000.00
What is the maximum loan term you can get with MWRD Employees CU MyChoice Loan?
MWRD Employees CU MyChoice Loan offers loans with terms of 12 months.
| Personal Loan Amount | $1000.00 - $5000.00 |
| Loan Term | 12 months |
| APR | 4.90% - 16.90% |
What fees does MWRD Employees CU MyChoice Loan charge?
Does MWRD Employees CU MyChoice Loan charge an origination fee?
MWRD Employees CU MyChoice Loan may charge a personal loan origination fee .
Does MWRD Employees CU MyChoice Loan charge a late fee?
MWRD Employees CU MyChoice Loan does not disclose whether it charges late payment fees.
Does MWRD Employees CU MyChoice Loan charge prepayment fees?
No, MWRD Employees CU MyChoice Loan 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 MyChoice Loan?
MWRD Employees CU MyChoice Loan 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 MyChoice Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by MWRD Employees CU MyChoice Loan.
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 |
| Credit Score | N/A |
Does MWRD Employees CU MyChoice Loan report your account activity to credit bureaus?
Yes, MWRD Employees CU MyChoice Loan 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 MyChoice Loan 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 MyChoice Loan 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.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 3:00PM
Tuesday
9:00AM - 3:00PM
Wednesday
Closed
Thursday
9:00AM - 3:00PM
Friday
9:00AM - 3:00PM
Saturday
Closed