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Fairwinds Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 19 Aug 2023
Fact checked

Fairwinds Credit Union logo

Fairwinds Credit Union opened in 1949 and is headquartered in Orlando, Florida. This not-for-profit financial cooperative has more than 700,000 members and over $17 billion in assets. They offer a full line of banking services, including loan and deposit services, payment solutions, investment management, and financial planning.

With the increase in the number of personal loan providers and their bold claims, it is possible to get swept away with the most attractive loan offer without reading the terms and conditions carefully. The question now is this: Is a personal loan from Fairwinds Credit Union the best option for you? First, figure out how much your monthly installments will be. Use the Fairwinds personal loans calculator to determine if you should move ahead with your loan application.

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.

A quick guide to personal loans from Fairwinds Credit Union

Fairwinds Credit Union offers personal loans for qualified borrowers. Use the funds to pay for a big purchase, consolidate debt, or improve your credit score. You can even use the cash to start a new business, go on a holiday trip, or pay medical bills.

Fairwinds Credit Union personal loan features and benefits

Here’s a breakdown of the key features and benefits of a Fairwinds Credit Union personal loan:

  • Loan amounts: minimum of $2,000
  • Loan terms: between 12 and 60 months
  • Interest rates: from 8.45% APR

Requirements for a Fairwinds Credit Union personal loan

A Fairwinds Credit Union personal loan is only available to current members and employees. Almost anyone can join. Just pay the $5 membership fee, and you can apply for a personal loan already.

Fairwinds Credit Union does not have a specific list of borrower criteria. However, most lenders expect loan applicants to submit documents related to the following requirements:

  • Proof of identity (that you are 18 years of age or older)
  • Proof of residence (a recent utility bill or a copy of your lease or other rental agreement)
  • A copy of government-issued ID (e.g. driver’s license)
  • Have a minimum score of around 600 to qualify; if a higher credit score is required, you may need a co-signer or co-borrower
  • Have a debt-to-income ratio of 40% or lower
  • Evidence of steady source of income (recent tax returns, monthly bank statements, pay stubs)
  • If self-employed: provide tax returns or bank deposits

 

Fairwinds Credit Union personal loan calculator

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

Loan Amount

$20,000

Term

3 months

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Fairwinds Credit Union

Fairwinds Credit Union personal loans

Fairwinds Credit Union personal loans
Estimated Month Repayments
$631 Inclusive of fees
Interest Rate
8.45%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Go to site
Say goodbye to high-interest credit cards and fees that add up fast with a low-rate loan from FAIRWINDS. With competitive interest rates and fixed monthly payments, we make paying off your debt almost as easy as spending the money was.
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Wells Fargo

Wells Fargo personal loans

Estimated Month Repayments
$606 Inclusive of fees
Interest Rate
5.74%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$3,000
to $10,000
Go to site
Checking and savings accounts and credit cards for your everyday business expenses and cash management.
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Eastman Credit Union

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
29.90%
APR
Repayment Period
12 months
to 12 months
Loan Amounts
$1,000
to $20,000
Go to site
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.

Pros and cons of personal loans

Pros

  • Longer repayment terms
  • Fixed monthly payments
  • Lower starting rates compared to those from other credit unions
  • Co-borrowers allowed

Cons

  • Non-members cannot apply
  • Maximum loan amount undisclosed
  • No information on credit score requirement
  • he lender doesn’t make its full eligibility criteria clear

Frequently asked questions

What can I use the Fairwinds Credit Union personal loan for?

You can use a Fairwinds personal loan to help you pay for almost anything you need, whether it is for home renovation, car repair, or debt consolidation. It can even be used to fund energy-efficiency improvements or other county energy-efficiency plans.

How much does Fairwinds Credit Union offer for its personal loans?

Qualified borrowers of a Fairwinds Credit Union personal loan can borrow as little as $2,000. The maximum borrowing limit is undisclosed.

What interest rates does Fairwinds Credit Union offer?

Fairwinds Credit Union personal loans have interest rates starting from 8.45% APR.

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

Approval for a Fairwinds Credit Union personal loan is based on your creditworthiness and proof of a stable income. If you have a low credit score, consider first on improving it, before you apply for a loan.

What are my options for repaying the full loan amount from Fairwinds Credit Union?

The loan from Fairwinds Credit Union can be repaid for a period between 12 and 60 months.

Video: Get the freedom to go further with Fairwinds Credit Union

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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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