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  Schools First Federal Credit Union Personal Loans

Schools First Federal Credit Union Personal Loans

in Personal Loans from Schools First Federal Credit Union

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Schools First Federal Credit Union Personal Loans

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in Personal Loans from Schools First Federal Credit Union

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Highlights
Highlights
APR  (Fixed APR) 7.95% - 18%
Loan Amount $500 - $50,000
Loan Term (Months) Up to 60 months

Schools First Federal Credit Union Personal Loans Review

Schools First Federal Credit Union Personal Loans is offered by Schools First Federal Credit Union, a credit union founded in 1934 and based in Santa Ana, CA. Schools First Federal Credit Union Personal Loans is available in 1 state across the USA.

Key Takeaways
  • APRs starting at 7.95%. These are average starting rates for a personal loan. If you have good credit you may qualify for a loan with better rates.
  • Fair credit accepted. The credit score needed for Schools First Federal Credit Union Personal Loans is relatively low. Borrowers with a credit score as low as 580 may qualify for Schools First Federal Credit Union Personal Loans.
  • Large loan amounts. You can apply for loan amounts of up to $50,000 with Schools First Federal Credit Union Personal Loans.
Schools First Federal Credit Union Personal Loans Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with poor credit.
  • Charges an origination fee.
  • Charges a late fee.
  • No co-sign option.
Schools First Federal Credit Union Personal Loans FAQ

What rates and terms does Schools First Federal Credit Union Personal Loans offer?

Schools First Federal Credit Union Personal Loans has lower interest rates than the average for lenders reviewed on SuperMoney.

What APR rate does Schools First Federal Credit Union Personal Loans offer?

Schools First Federal Credit Union Personal Loans offers a fixed APR personal loan product that ranges from 7.95% APR up to 18% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Schools First Federal Credit Union Personal Loans?

Loan amounts start at $500 and go up to $50,000

What can a personal loan from Schools First Federal Credit Union Personal Loans be used for?

Personal loans from Schools First Federal Credit Union Personal Loans are typically used for special purchases or similar purposes.

What is the maximum loan term you can get with Schools First Federal Credit Union Personal Loans?

Schools First Federal Credit Union Personal Loans offers personal loans with a maximum term of 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Schools First Federal Credit Union Personal Loans Rates & Terms
Loan Amount $500 - $50000
Loan Term up to 60 months
APR 7.95% - 18%

What fees does Schools First Federal Credit Union Personal Loans charge?

Does Schools First Federal Credit Union Personal Loans charge an origination fee?

Schools First Federal Credit Union Personal Loans may charge a loan origination fee.

Does Schools First Federal Credit Union Personal Loans charge a late fee?

Yes, Schools First Federal Credit Union Personal Loans may charge borrowers a late payment fee.

Does Schools First Federal Credit Union Personal Loans charge prepayment fees?

No, Schools First Federal Credit Union Personal Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

Schools First Federal Credit Union Personal Loans Fees
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for Schools First Federal Credit Union Personal Loans?

Applicants with a credit score of at least 580 and up to 840 are eligible for Schools First Federal Credit Union Personal Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Schools First Federal Credit Union Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. Schools First Federal Credit Union Personal Loans will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

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 Schools First Federal Credit Union Personal Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Schools First Federal Credit Union Personal Loans. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Government issued photo ID
  • Proof of identity
  • Proof of residence
Schools First Federal Credit Union Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Credit Score 580 - 840

Does Schools First Federal Credit Union Personal Loans report your account activity to credit bureaus?

Schools First Federal Credit Union Personal Loans 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 can 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
California
Availabile in all of California

Feature Breakdown

No Prepayment Fee  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Tax Returns
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Social Security Number
Credit Score Range 580 - 840
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Payment Options
  • Automatic Payments
  • Bank Transfer
  • Cash
  • Check by mail
  • Credit/Debit Card
  • Storefront
Pre-Approved Soft Credit Inquiry  
Loan Amount $500 - $50,000
APR (Fixed APR) 7.95% - 18%
Loan Term Up to 60 months

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