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Meriwest Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 18 Aug 2023
Fact checked

Meriwest Credit Union logo

Meriwest Credit Union was founded in 1961 and can be found in San Jose, California. Meriwest Credit Union has $1.5 billion in total assets, and has more than 72,000 members. They provide personalized services including higher interest rates on savings and lower rates on personal loans, new and used auto loans, and HELOCs.

A personal loan, like one from Meriwest Credit Union, can be one of the most effective ways to ease financial difficulties and position yourself for success. If you are unfamiliar with the range of monthly installments, let the Meriwest Credit Union personal loans calculator do the work. This handy tool can show you EMIs (equated monthly installments) for the life of a loan.

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.

Meriwest Credit Union personal loans at a glance

Personal loans from Meriwest Credit Union can be a practical option for dealing with financial difficulties. They come in a variety of shapes and sizes, but the most common applications are debt consolidation and major purchases such as cars, computers, or home appliances. Check out this article for more information on how Meriwest personal loans work.

Below are the basic features and benefits of a Meriwest Credit Union personal loan:

  • Loan amounts: minimum $1,000; maximum $40,000
  • Loan terms: between 12 and 60 months
  • Interest rates: from 9.15% to 13.95% APR

Requirements for a Meriwest Credit Union personal loan

Meriwest Credit Union personal loans are available to members only. If you want to join, there are many ways to qualify for membership:

  • You live, work, worship, or attend school in Meriwest Credit Union recognized counties.
  • You are a family member of a Meriwest Credit Union membe.r
  • You are a current or former employee of Meriwest Credit Union recognized establishments, businesses, or institutions.

Meriwest 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: 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 lower than 40%. However, these requirements aren’t set in stone.

Meriwest 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
Meriwest Credit Union

Meriwest Credit Union personal loans

Meriwest Credit Union personal loans
Estimated Month Repayments
$626 Inclusive of fees
Interest Rate
7.95%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $25,000
Go to site
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Estimated Month Repayments
$606 Inclusive of fees
Interest Rate
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APR
Repayment Period
12 months
to 84 months
Loan Amounts
$3,000
to $10,000
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Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
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APR
Repayment Period
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Loan Amounts
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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 Meriwest Credit Union personal loans

Pros

  • Wide range of borrowing limits
  • A variety of loan payment options
  • Optional SAFETYnet debt protection

Cons

  • Exclusive to members only

Frequently asked questions

What are the minimum and maximum loan amounts for a Meriwest Credit Union personal loan?

You can borrow between $1,000 and $40,000.

What interest rates does Meriwest Credit Union personal loan offer?

Interest rates for a personal loan can range between 9.15% and 13.95%.

What are the repayment terms for a Meriwest Credit Union personal loan?

You have between 12 and 60 months to repay your personal loan.

What is the lowest possible APR for a personal loan from Meriwest Credit Union?

If you choose a repayment term length between 12 and 36 months, potential APRs can range between 9.15% – 13.70%. If the loan term is between 37 and 60 months, APRs can start from 9.25% up to 13.95%.

Does Meriwest Credit Union provide a debt protection plan?

Yes. Meriwest Credit Union provides SAFETYnet Payment Protection to protect yourself from the financial consequences of losing your ability to pay, due to covered events such as health emergencies or death.

Video: Today, tomorrow, together with Meriwest 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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