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Five County Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 19 Aug 2023
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Five County Credit Union, formerly known as the BIW Employees Federal Credit Union, was founded in 1956. Five County Credit Union provides personalized services including higher interest rates on savings and lower rates on personal loans, new and used auto loans, and HELOCs.

The ideal personal loan for you will be determined by your personal finances, as well as the loan amount and purpose. Choosing the right loan is frequently determined by what you require. Do you want to be certain that a Five County Credit Union personal loan is the best option for you? View possible repayments using the Five County Credit Union personal loans calculator.

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 Five County Credit Union

Five County Credit Union offers personal loans to its members. With its simple online application process, qualified borrowers get accepted in less than 30 minutes. You can safely and securely apply for a Five County CU loan 24 hours a day, 7 days a week.

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

  • Loan amounts: $25,000 maximum
  • Loan terms: up to 7 years
  • Interest rates: starts at 8.75% – 18% APR

Requirements for a Five County Credit Union personal loan

Only current members and employees are eligible to take out a Five County Credit Union personal loan. Join now so you can enjoy all the available membership benefits and privileges. You only need to meet any of the following requirements:

  • If you live, work, worship, or go to school to any Five County Credit Union-recognized counties
  • If you are an immediate family member of a Five County Credit Union member or employee

Borrower criteria for a personal loan from Five County Credit Union are undisclosed. However, most lenders expect loan applicants to submit documents related to the following requirements:

  • Proof of identity: This is to determine if you’re a United States citizen or permanent resident and if you’re at least 18 years of age. You’ll typically need to present two forms of identification, such as birth certificate, driver’s license, passport, or social security card.
  • Proof of your living situation: This is to determine if you are a permanent US citizen or resident. You can usually use one of the following: utility bill, proof of insurance on your home, lease/rental or vehicle, lease or rental agreement.
  • Proof of capacity to pay: Lenders need to be confident that you will repay the loan. If you are traditionally employed, submit a copy of your pay stubs, W-2s and 1099s, employer statement. If you are a business owner or a self-employed applicant, submit a copy of your tax returns, bank statements, or annuity statements.
  • Good credit score and DTI ratio: Lenders require applicants to meet a certain credit score threshold (beyond 700) and a debt-to-income ratio for approval (lower than 40%). However, these requirements aren’t set in stone.

 

Five County 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

Change
Five County Credit Union

Five County Credit Union personal loans (Signature)

Five County Credit Union personal loans (Signature)
Estimated Month Repayments
$634 Inclusive of fees
Interest Rate
8.75%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$1,000
to $25,000
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We understand that not every need or want in life fits into a category. Five County offers loans for whatever life milestone or circumstance comes your way.
Five County Credit Union

Five County Credit Union personal loans (Debt Consolidation)

Five County Credit Union personal loans (Debt Consolidation)
Estimated Month Repayments
$681 Inclusive of fees
Interest Rate
13.75%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $25,000
Go to site
We understand that not every need or want in life fits into a category. Five County offers loans for whatever life milestone or circumstance comes your way.
Featured
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.
Featured
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 Five County Credit Union personal loans

Pros

  • Longer repayment terms
  • Starting APRs lower than those from other credit unions
  • 24/7 online application
  • Co-borrowers allowed
  • Fast approval

Cons

  • The lender doesn’t make its full eligibility criteria clear
  • Applications are restricted to specific Maine counties
  • The maximum borrowing limit is lower than those from other lenders
  • No information on credit score requirement
  • No information on rate discounts for automatic payments

Frequently asked questions

What are the available loan amounts for a personal loan from Five County Credit Union?

Qualified borrowers receive funds of up to $25,000.

How long can I repay a Five County Credit Union personal loan?

Repayment terms can be up to 7 years.

What are the interest rates for a personal loan from Five County Credit Union?

Potential rates for a personal loan can be as low as 8.75% and as high as 18%.

How long does it take to get approved for a personal loan at Five County Credit Union?

Qualified borrowers can get approved in less than 30 minutes with their easy online application process.

Does Five County Credit Union allow co-signers?

Yes, you can apply with a co-borrower to help secure a higher loan amount or a lower rate.

Video: Five County Credit Union – Serving the hardworking people of Maine

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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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