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NEFCU Personal Loans Calculator & Overview

Carla Soto
Updated 10 Aug 2023
Fact checked

New England Federal Credit Union (NEFCU) logo

New England Federal Credit Union (NEFCU) was established in 1961, and is the largest credit union in Vermont with more than $900 million in assets. Its headquarters is in Williston, Vermont, serving 85,000 members. They have a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards.

If you need money fast, personal loans can provide flexibility without the high interest rates associated with credit cards. Interested in a New England Federal Credit Union personal loan but worried about your EMIs (equated monthly installments) for the life of a loan? Let the calculator NEFCU personal loans calculator do the work for you.

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.

Personal loans from NEFCU in a nutshell

The features and benefits of an NEFCU loan are not clear except for its interest rates which start at 8.99% APR. Contact a bank representative to learn more about borrowing limits, repayment term lengths, and other loan details. Like other credit unions, a personal loan from NEFCU can have potentially lower rates than credit cards. Funds can be used for almost anything but you have to meet certain qualifications to be approved for your desired loan amount and term.

Requirements for a NEFCU personal loans

NEFCU personal loans are available for members. If you want to join, there are many ways to qualify for membership:

  • You live, work, worship, or attend school in NEFCU recognized counties
  • You are a family member of a NEFCU member
  • You are a current or former employee of NEFCU recognized establishments, businesses, or institutions

There is no available information on borrower criteria for a NEFCU personal loan. Typically, most lenders have a general expectation among potential loan applicants. These are the following:

  • Your government issued identification (driver’s license, state ID, or passport)
  • Your social security number / individual taxpayer identification number
  • Your residential address (utility bill, property tax receipt, home insurance copy, mortgage statement, lease or rental agreement)
  • Financial information, including gross monthly income and monthly expenses
  • Employment details or source of income such as two most recent pay stubs or copies of bank statements for the past three months
  • 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

NEFCU personal loan calculator

Loan Amount

$20,000

Term

3 months

NEFCU

New England Federal Credit Union personal loans (MyConsolidator)

Estimated Month Repayments
Interest Rate
5.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.
NEFCU

New England Federal Credit Union personal loans (Auto Repair/Improvement)

Estimated Month Repayments
Interest Rate
6.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.
NEFCU

New England Federal Credit Union personal loans (MyRenovator)

Estimated Month Repayments
Interest Rate
6.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.
NEFCU

New England Federal Credit Union personal loans (Income Tax Loan)

Estimated Month Repayments
Interest Rate
6.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.
NEFCU

New England Federal Credit Union personal loans (Fuel Assistance)

Estimated Month Repayments
Interest Rate
6.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.
NEFCU

New England Federal Credit Union personal loans

Estimated Month Repayments
Interest Rate
8.99%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Use a Personal Loan or Line of Credit to take care of small debts, debt consolidation, or as an overdraft line of credit. Special-purpose Personal Loans are available, too.

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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 NEFCU personal loans

Pros

  • Interest rate is lower than those from other credit unions
  • Online application is available
  • Co-signers are allowed

Cons

  • No clear information on loan amounts, terms, and repayment frequency
  • Credit/income requirements are undisclosed
  • No rate discounts for automatic payments

Frequently asked questions

What can I use an NEFCU personal loan for?

You can use your personal loan from NEFCU for the following purposes: modest home improvements, holiday expenses, unexpected auto repairs, maintenance costs, fuel expenses, or for income taxes.

What interest rates does NEFCU personal loan offer?

Interest rates for a personal loan from NEFCU can start from 8.99%.

Can I apply for an NEFCU personal loan if I have a low credit score?

A low credit score can potentially stand in your way of getting a personal loan from NEFCU. Make sure to build and improve your scores first before taking out a loan from the credit union.

What number do I need to call to ask about personal loans from NEFCU?

You can call 802.879.8790 or 800.400.8790 to find out more about NEFCU personal loans.


Video: Welcome to NEFCU

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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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