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Member One Federal Credit Union Auto Loan Calculator, Interest Rates & Overview

Carla Soto
Carla Soto
Updated 06 October 2023
Fact checked

Member One Federal Credit Union auto loans overview

Member One Federal Credit Union logo

Member One Federal Credit Union is headquartered in Roanoke, Virginia and has been around since 1940. Member One offers quick, convenient, and affordable auto financing choices for new and pre-owned vehicles. Qualified members can also pick from the credit union’s loans for ATVs, boats, dirt bikes, jet skis, motorcycles, and RVs.

Want to see what a Member One auto loan will cost? Try the Member One Federal Credit Union auto loan calculator below! All you have to do is enter your desired loan amount and term to see an estimate. You can use the calculator to adjust your loan amount and term to see how it might affect your monthly repayments.

Key Member One Federal Credit Union auto loan features

  • Minimum loan amount: Undisclosed.
  • Maximum loan amount: Undisclosed.
  • Interest rates: From 6.25% APR.
  • Loan terms: Up to 84 months.
  • Loan fees: Undisclosed.
  • Discounts: Undisclosed.

MEMBER ONE FCU AUTO LOAN OPTIONS

New and used auto loans

You can purchase and refinance your existing loan with Member One FCU’s competitive auto loans. The starting rate for auto loans with terms of up to 66 months is 6.25% APR. Meanwhile, refinancing starts as low as 3.99% APR with extended repayment terms of up to 84 months.

Recreational vehicle loans

If you’re after motorcycles, RVs, dirt bikes, ATVs, boats, and jet skis, you also have options at Member One. You can apply for as low as 7.75% APR and make your loan payments for up to 72 months. Remember though that your rates and terms are subject to approval based on your creditworthiness and overall loan.

Member One Federal Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
Member One Federal Credit Union

Member One Federal Credit Union auto loan

Member One Federal Credit Union auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Member One Federal Credit Union auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for a Member One Federal credito union auto loan

Eligibility criteria

Member One doesn’t list the standards for auto financing, but you should typically be:

  • 18 years old or older
  • A legal resident
  • A member of Member One FCU
  • Employed or have a dependable source of income

Moreover, try to build your credit profile before applying. This will help you lock in ideal rates and terms and improve your chances of getting approved for a loan.

How to join Member One Credit Union

You can qualify for Member One membership if you meet one of the following:

  • Live, work, worship, or study in select parts of Virginia
  • Employee, retiree, or volunteer of a partner company/organization
  • Related to a current or eligible member
  • Live in the household of a current or eligible member

What you’ll need to have ready

Personal details

When you apply for auto financing with Member One Federal Credit Union, you’ll be asked to provide personal information such as:

  • An email address
  • Your full name
  • Address
  • Social Security number
  • Employment information
  • Income details
  • U.S. citizenship status
  • A list of monthly expenses

Documents

You may need to provide Member One with additional documents to complete your loan request. These documents may include a purchase agreement or bill of sale, car registration and title, instructions for buying out a lease, proof of income (such as federal tax returns and W-2s), and financial statements.

While Member One doesn’t ask for prepayment penalties, ask about the other loan fees associated with your loan. This will help you avoid surprise expenses and better plan the overall cost of financing your vehicle.

Ways to apply for a Member One FCU auto loan

  • Apply online by clicking the GO TO SITE link in the table below
  • Visit a branch
  • Call 800-666-8811

Additional Member One auto loan details

  • Automatic payment: Available.
  • Rate discounts: Lowest APRs for members with excellent credit scores.
  • Repayment frequency: Monthly.
  • Late payment fees: Undisclosed.
  • Prepayment penalty: $0.
  • Co-borrowers allowed: Yes.
  • Co-signers: Undisclosed.
  • Hardship program: Undisclosed.
  • Ways to repay: Online, in person, over the phone, and by mail.

Vehicle restrictions and limitations

  • Maximum vehicle age: Undisclosed.
  • Maximum vehicle mileage: 175,000 miles for a 66-month term at 6.25% APR.
  • Other vehicle restrictions: Undisclosed.

PROS AND CONS

Pros

  • Same-day loan decisions.
  • Competitive APRs.
  • Purchase and refinance available.
  • Joint applications allowed.
  • No prepayment penalties.
  • Online application available.
  • Multiple dealer networks.
  • 90-day no-payment option.
  • On-site financing at participating dealerships.
  • Auto insurance, Mechanical Breakdown Protection (MBP), and Guaranteed Asset Protection (GAP) offered.

Cons

  • Membership required.
  • Undisclosed loan fees and amounts.
  • Members with poor credit may get higher interest rates.

FREQUENTLY ASKED QUESTIONS

Does Member One Federal Credit Union refinance auto loans?

Yes. You can transfer your auto loan to Member One and potentially save up to 2% on your rate. Member One FCU offers refinancing with rates as low as 3.99% APR and terms of up to 84 months.

How to apply for an auto loan at Member One?

You can quickly apply online, in your preferred branch, or by calling 800-666-8811.

How do I pay my Member One FCU car loan?

Your loan payment options include online and phone banking, mail, and in person.

Can I repay my Member One auto loan early?

One benefit of Member One auto loans is they don’t have prepayment penalties.

How long does Member One FCU take to approve vehicle loans?

You may receive the loan decision on the same day of your application.

What information do I need to provide when applying for a Member One car loan?

You need to provide your personal and contact information, including your Social Security number. Along with these, Member One will ask for your gross monthly income and employment details.

How many pay slips does Member One FCU require during my auto loan application?

The credit union doesn’t disclose the exact requirements, but you usually need your 2 most recent pay stubs.

Video: People helping people with Member One

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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