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Eastman Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 19 Aug 2023
Fact checked

Eastman Credit Union logo

Eastman Credit Union (ECU) was founded in 1934 and is based in Kingsport, Tennessee. It has 300,000 members and over $7.5 billion in assets. For personal banking, they offer financing services including deposit and checking accounts, loans and credit cards, mortgages, insurance, and payment solutions.

Managing a personal loan can be a straightforward and stress-free process once you’ve worked out the kinks involved. If you’re concerned whether an Eastman Credit Union personal loan is the best option for you, fret not. This Eastman Credit Union personal loans calculator can reveal your potential repayments.

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.

An overview of Eastman Credit Union personal loans

Eastman Credit Union offers a variety of personal loan options for qualified borrowers. Use the funds to consolidate existing bills, deal with urgent car repairs, or take the vacation of a lifetime. Higher loan amounts and lower rates are available depending on your creditworthiness and capacity to pay.

Listed below are the main features and benefits of a personal loan from Eastman Credit Union:

Signature Loan

  • Loan amounts: Minimum $500; maximum $10,000
  • Loan terms: from 12 to 60 months
  • APR: Fixed rate that starts at 10.450% APR

‘It’s Your Money’ Loan

  • Loan amounts: Minimum $500; maximum $10,000
  • Loan terms: from 12 to 60 months
  • APR: Fixed rate that starts at 8.450% APR

Line of Credit

  • Loan amounts: Minimum $500; maximum $10,000
  • Loan terms: from 12 to 60 months
  • APR: Fixed rate that starts at 11.850% APR

Student Line of Credit

  • Loan amounts: Minimum $1,000; maximum $75,000
  • Loan terms: up to 21 years
  • APR: Fixed rate that starts at 4.40% APR

Student Loan Consolidation

  • Loan amounts: Minimum $1,000; maximum $75,000
  • Loan terms: up to 25 years
  • APR: Fixed rate that starts at 3.50% APR

Seasonal Loan

  • Loan amounts: Minimum $500; maximum $8,000
  • Loan terms: 6, 12, or 18 months
  • APR: Fixed rate that starts at 5.450% APR

Single Payment

  • Loan amounts: Minimum of $1,000
  • Loan terms: Payable in 12 months
  • APR: Fixed rate that starts at 11.850% APR

 

Eastman Credit Union personal loan calculator

Loan Amount

$20,000

Term

3 months

Eastman Credit Union

Eastman Credit Union personal loans (It's Your Money Loan)

Estimated Month Repayments
Interest Rate
7.95%
APR
Repayment Period
12 months
to 96 months
Loan Amounts
$1,000
to $20,000
ECU offers extraordinary products & services that make life just a little easier.
Eastman Credit Union

Eastman Credit Union personal loans (Signature Loan)

Estimated Month Repayments
Interest Rate
9.95%
APR
Repayment Period
12 months
to 96 months
Loan Amounts
$1,000
to $20,000
ECU offers extraordinary products & services that make life just a little easier.
Eastman Credit Union

Eastman Credit Union personal loans (Line of Credit Loan)

Estimated Month Repayments
Interest Rate
11.85%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
ECU offers extraordinary products & services that make life just a little easier.
Eastman Credit Union

Eastman Credit Union personal loans (Salary Advance Line of Credit Loan)

Estimated Month Repayments
Interest Rate
17.75%
APR
Repayment Period
12 months
to 90 days
Loan Amounts
$1,000
to $20,000
ECU offers extraordinary products & services that make life just a little easier.

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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.

Requirements for an Eastman Credit Union personal loan

An Eastman Credit Union personal loan is only available to current members and employees. If you are not yet a member, there are several ways to join. Membership is available to anyone who:

  • Is a family member of one of ECU’s eligible members
  • Live, work, worship, attend school, operate a business in one of ECU’s recognized communities
  • Work regularly in the healthcare industry in one of ECU’s recognized counties
  • Is employed by one of ECU’s sponsor or contractor companies

To be eligible for an Eastman Credit Union personal loan product you should be:

  • 18 years of age or older
  • a US resident
  • have a valid email address
  • have a steady source of income
  • have a good credit rating

When you apply for a personal loan at Eastman Credit Union, make sure you have and send in the following:

  • Proof of identity (driver’s license, birth certificate, social security card, passport)
  • Proof of residence (utility bill, lease or rental agreement, mortgage statement, property tax receipt)
  • Proof of employment for traditionally employed individuals (paystubs, W-2s and 1099s, employer statement)
  • <Income verification for self-employed individuals or business owners (tax returns, bank statements, annuity statements)

Pros and cons of Eastman Credit Union personal loans

Pros

  • Wide variety of loan options to accommodate borrowers with a wide range of needs and qualifications
  • Low APRs compared to those from other lenders
  • Apply 24/7 online or via phone

Cons

  • Only available to members
  • <Two or more loans are allowed but the total amount borrowed can’t exceed $25,000
  • Required credit score undisclosed

Frequently asked questions

What is ECU’s Single Payment Loan?

This loan option allows you to borrow amounts over $1,000 and make one single payment to pay off the loan anytime within one year.

What is ECU’s Salary Advance Loan?

This loan option allows you to borrow between $100 and $500 advance amount with a competitive rate for a 90-day term.

What is ECU’s ‘It’s Your Money’ Loan?

This loan option can help important life events such as weddings, vacations, moving expenses, and much more.

What is ECU’s Student’s Loan Consolidation?

This loan option can cover tuition and other expenses with multiple terms and financing options available. There is up to 25 years financing and interest-only payments until graduation are allowed.

Can I apply for an Eastman Credit Union personal loan if I have a low credit score?

Approval for an Eastman Credit Union personal loan is based on your creditworthiness and proof of stable income. If you have a low credit score, work to improve it so you can get the best deal that will help you achieve your financial goals.


Video: Eastman Credit Union – We’ve got a loan for that!

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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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