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Metro Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 10 Aug 2023
Fact checked

Metro Credit Union logo

Metro Credit Union is a financial institution that was founded in 1926 in Chelsea, Massachusetts. It is the largest state-chartered credit union in the state and has over $2.6 billion in assets and more than 220,000 members. They provide a variety of personal banking services such as deposit and checking accounts, loans and credit cards, mortgages, insurance, and payment solutions.

A personal loan can be a good option for those in financial difficulty because it does not require putting any assets at risk and can provide quick cash relief. The Metro Credit Union personal loan calculator can help you determine your monthly installments (EMIs) for the life of the 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.

General facts about Metro Credit Union personal loans

As with any other lender, Metro Credit Union has its own set of loan features and benefits. See if any of these listed below matches your personal expectations:

  • Loan amounts: minimum $500.00; maximum $25,000.00
  • Loan terms: 48 months maximum
  • Interest rates: as low as 12.90% APR

Requirements for a Metro Credit Union personal loan

You must be a member of Metro Credit Union to be eligible for a personal loan. Here are the criteria you must meet to become a member of Metro Credit Union:

  • Be employed by one of their Sponsoring Employer Groups
  • Live in the boundaries of their community charter
  • You are an immediate family or household member of an existing METRO Federal Credit Union Member
  • Work within the boundaries of their community charter
  • Volunteer within the boundaries of their community charter
  • Worship or attend school within the boundaries of their community charter
  • You have a business within the community charter and/or regularly conduct business in the local community

Borrower criteria for a personal loan from Metro Credit Union is unclear. Most lenders, however, require potential applicants to submit the following documents:

  • A clear copy of your photo ID and verification of address
  • Identification information, including ID type, number, state, date of issue, and expiration
  • Contact and reference information, including name, date of birth, member number, phone number, email, and physical address
  • Financial information, including gross monthly income and monthly expenses
  • Employment details including two most recent pay stubs
  • For self-employed applicants or business owners: proof of source of income such as bank statements for the past three months or the latest tax return

 

Metro 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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Metro Credit Union

Metro Credit Union personal loans

Metro Credit Union personal loans
Estimated Month Repayments
$673 Inclusive of fees
Interest Rate
12.90%
APR
Repayment Period
12 months
to 48 months
Loan Amounts
$500
to $25,000
Go to site
Life happens, and we're here to help. If you're looking to make a large, unexpected purchase, consolidate debt, or even cover the cost of applying for citizenship, consider a personal loan. With low rates, flexible terms, and convenient repayment options, you can meet your goals and achieve your dreams.
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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.
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 Metro Credit Union personal loans

Pros

  • Qualified borrowers can receive up to $25,000
  • Fixed rate guaranteed for the life of the loan
  • Online application available

Cons

  • The lender doesn’t make its full eligibility criteria clear
  • Applications are restricted to credit union members and employees
  • No information on rate discounts for automatic payments

Frequently asked questions

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

You can borrow between $500 and $25,000.

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

You have up to 84 months to repay your personal loan.

What interest rates does Metro Credit Union personal loan offer?

Interest rates for a personal loan from Metro Credit Union starts at 12.90%.

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

There are many factors that go into the approval for a Metro Credit Union personal loan and one of these is your creditworthiness. If you have a low credit score, then it might be difficult getting approved. If you want to get the best deal possible, work to improve your scores.

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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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