Important disclosure

Affinity Plus FCU Personal Loan Calculator & Overview

Carla Soto
Updated 23 July 2023
Fact checked

Affinity Plus FCU logo

Affinity Plus Federal Credit Union was established in April 1930. This not-for-profit financial cooperative was once known as State Capitol Credit Union. Today, Affinity Plus FCU has more than 600,000 members and $1.7 billion in assets.

Can you afford an Affinity Plus Federal Credit Union personal loan? With the Affinity Plus FCU personal loan calculator, you can know right away! Discover available loan amounts, repayment terms, and interest rates within your budget.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

 


Affinity Plus Federal Credit Union personal loans review

Affinity Plus offers secured loans and unsecured loans to cover planned expenses and unexpected costs. Whichever personal loan option you choose, you can enjoy flexible terms and competitive rates. There are no prepayment penalties, and you can opt for a debt protection plan.

Personal loan features of Affinity Plus

Here are the details you need to know about an Affinity Plus personal loan:

  • Loan options: unsecured personal loans and secured personal loans
  • Loan amounts: $500 to $40,000
  • Repayment terms: 12 to 60 months
  • Interest rates: APR between 6% and 13.99%
  • Co-applications: Apply with a co-signer for better chances of approval

Requirements for an Affinity Plus FCU personal loan

To apply for an Affinity Plus Federal Credit Union personal loan, you must first join to become a member. All you need to do is meet at least one of these eligibility requirements:

  • If you work for the State of Minnesota and its affiliated institutions
  • If you are a current/former student/alumnus of any Minnesota State college or university
  • If you live, work, or worship in selected communities
  • If you are a relative or a roommate of an eligible member
  • If you make a $25 donation to the Affinity Plus Foundation

Affinity Plus doesn’t disclose on its website how you can qualify for its personal loan. Requirements may also vary for secured and unsecured loans. However, you’ll have to provide the following information/documents upon application:

  • Proof of identity
  • Purpose for the personal loan
  • Proof of income
  • Your Affinity Plus Savings Account
  • Guarantor or Joint Borrower
  • Collateral

Affinity Plus FCU personal loan calculator

Loan Amount

$20,000

Term

3 months

Affinity Plus

Affinity Plus Federal Credit Union personal loans

Estimated Month Repayments
Interest Rate
28.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
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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.

Affinity Plus FCU Personal Loans FAQs

Can I apply for an Affinity Plus personal loan if I’m not a member?

You have to be a member to apply for an Affinity Plus personal loan. If you’re not a member, you can apply for one and become a member at the same time.

How is MyPlusRewards related to my loan application?

It is a membership program that lets you earn points when you take out an Affinity Plus personal loan. You can use those points to help you lower your rate.

How much can I save with an Affinity Plus personal loan?

After pre-approval, you can use MyPlus Rewards points to save on your loan. Get up to 0.25% off your interest rate to maximize your savings.

Can my spouse be my co-signer/guarantor?

No, your spouse can’t be a co-signer/guarantor for your personal loan application. Moreover, the person you choose must know that they are legally responsible for loan repayments.

What’s the difference between a co-signer/guarantor and a co-borrower/joint applicant?

A co-signer/guarantor won’t benefit from your loan but will assume equal responsibility. On the other hand, a co-borrower is entitled to the loan just as you are. As joint applicants, you are both legally required to make on-time repayments.

Does Affinity Plus personal loans come with a debt protection plan?

Yes. Upon application, you have the option to add any of the three loan protection options. Speak with an Affinity Plus representative to learn more about these options.

Can I check my credit rating before applying for a loan?

Yes, you can – and it’s free! Just go to the Affinity Plus website or log in to the mobile app. You can get a copy of your credit profile from the top credit bureaus.

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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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