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PrimeWay Federal Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 10 Aug 2023
Fact checked

PrimeWay Federal Credit Union logo

PrimeWay Federal Credit Union is a not-for-profit financial cooperative that was organized in 1937 and is located in Houston, Texas. PrimeWay FCU has over 48,000 members, and has US$655 million in assets. 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 don’t want to touch your emergency savings and can afford to take on another monthly payment, you may be more inclined to take out a loan. So, how to know that a personal loan from PrimeWay is the right choice? View anticipated monthly repayments through the PrimeWay Federal 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.

Personal loans from PrimeWay Federal Credit Union in a nutshell

Like other lenders, PrimeWay Federal Credit Union offers its own list of features and benefits. Look at the list below so you can determine if they fit your personal expectations and payment preferences:

Here is a roundup of the vital features and benefits of a personal loan from PrimeWay Federal Credit Union:

  • Loan amounts: minimum $15,000
  • Loan terms: from 12 to 72 months
  • Interest rates: starting at 7.74% APR

 

Requirements for a PrimeWay Federal Credit Union personal loan

PrimeWay Federal Credit Union 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 PrimeWay Federal Credit Union recognized counties
  • You are a family member of a PrimeWay Federal Credit Union member
  • You are a current or former employee of PrimeWay Federal Credit Union recognized establishments, businesses, or institutions

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

  • You are at least 18 years old (provide a copy of your government-issued IDs such as certificate of citizenship, driver’s license, passport, or military ID)
  • You are a US resident (provide a copy of a recent utility bill, lease or rental agreement, or mortgage statement)
  • You have a good credit history – minimum of 600 is acceptable although 700 or higher is ideal.
  • You have a debt-to-income ratio of less than 40%.
  • You have a valid and active bank account.
  • You have proof of steady employment – provide a copy of paystubs, W-2s and 1099s, or an employer statement.
  • If you have a business or a self-employed individual, provide income verification such as tax returns, bank statements, annuity statements.

 

PrimeWay Federal 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
PrimeWay Federal Credit Union

PrimeWay Federal Credit Union personal loans (Debt Consolidation Loan)

PrimeWay Federal Credit Union personal loans (Debt Consolidation Loan)
Estimated Month Repayments
$620 Inclusive of fees
Interest Rate
7.25%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $50,000
Go to site
Life's opportunities and challenges don't always arrive when it's convenient. With a PrimeWay personal loan, you can get the cash you need to consolidate your debt, buy new tech, decorate your home, take a vacation, or pay for college.
PrimeWay Federal Credit Union

PrimeWay Federal Credit Union personal loans (Flex Personal Loan)

PrimeWay Federal Credit Union personal loans (Flex Personal Loan)
Estimated Month Repayments
$625 Inclusive of fees
Interest Rate
7.80%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$15,000
to $20,000
Go to site
Life's opportunities and challenges don't always arrive when it's convenient. With a PrimeWay personal loan, you can get the cash you need to consolidate your debt, buy new tech, decorate your home, take a vacation, or pay for college.
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 PrimeWay Federal Credit Union personal loans

Pros

  • Lower interest rates compared to other banks
  • Flexible repayment term lengths
  • Online application available
  • Fast approval process
  • Skip-a-Pay option

Cons

  • High minimum loan amount
  • For members only

Frequently asked questions

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

PrimeWay Federal Credit Union offers personal loans for a minimum amount of $15,000.

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

You have between 12 and 72 months to repay your personal loan from PrimeWay Federal Credit Union.

What interest rates does PrimeWay Federal Credit Union personal loan offer?

Interest rates for a personal loan from PrimeWay Federal Credit Union can be as low as 7.74%.

Can I skip a loan payment?

Yes. As a PrimeWay Federal Credit Union member, you qualify to skip a loan payment as long as you are in good credit standing.

What number do I need to call to ask about personal loans from PrimeWay Federal Credit Union?

You can call 602.433.5626 to find out more about PrimeWay Federal Credit Union personal loans.

Video: PrimeWay Federal Credit Union – Enabling dreams

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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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