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Tropical Financial Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 11 Aug 2023
Fact checked

Tropical Financial Credit Union logo

Tropical Financial Credit Union was founded in 1935 and is located in Miramar, Florida. TFCU has $700 million in assets and serves more than 80,000 members. For personal banking, they offer financing services including deposit and checking accounts, loans and credit cards, mortgages, insurance, and payment solutions.

Taking out a personal loan can be an excellent way to afford purchases that you otherwise wouldn’t be able to. So, if you decide to take out a personal loan from Tropical Financial Credit Union, find out how much your EMIs (equated monthly installments) will be. Let the Tropical Financial Credit Union personal loans calculator give you an estimate of your repayments.

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 Tropical Financial Credit Union personal loans

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

  • Loan amounts: minimum $500; maximum $10,000
  • Loan terms: up to 60 months
  • Loan fees: $0 origination fee; $0 prepayment penalty
  • Interest rates: starts at 8.75 % APR

 

Requirements for a Tropical Financial Credit Union personal loan

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

Tropical Financial Credit Union did not specify the borrower criteria for those who want to take out a personal loan from them. Most lenders, however, expect potential applicants to have these documents ready:

  • Loan purpose and information, including desired loan amount and loan term
  • 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 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
  • Proof of good credit standing
  • Proof of good debt-to-income ratio

Tropical Financial 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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Tropical Financial Credit Union

Tropical Financial Credit Union personal loans

Tropical Financial Credit Union personal loans
Estimated Month Repayments
$634 Inclusive of fees
Interest Rate
8.75%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$500
to $40,000
Go to site
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Estimated Month Repayments
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Interest Rate
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APR
Repayment Period
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Loan Amounts
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Checking and savings accounts and credit cards for your everyday business expenses and cash management.
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Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
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Interest Rate
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APR
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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 Tropical FCU personal loans

Pros

  • Lower base rates compared to those from other lenders
  • No origination fee or prepayment penalty
  • Simple online application and funding process

Pros

  • Low maximum loan amount
  • The lender doesn’t make its full eligibility criteria clear
  • No information on credit/income requirement

Frequently asked questions

How much does Tropical FCU offer for its personal loans?

Qualified borrowers of a Tropical FCU personal loan can receive funds up to $10,000.

What are my options for repaying the full loan amount from Tropical FCU?

The loan from Tropical FCU can be repaid for a period of up to 5 years (60 months).

What are the potential rates for a personal loan from Tropical FCU?

Potential rates for a Tropical FCU personal loan can start at 8.75% APR.

Will my low credit score affect my loan application from Tropical FCU?

Getting a personal loan is often difficult if you have low credit scores. But don’t let this stand in your way; build up and improve those numbers first before applying for a personal loan from Tropical FCU.

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

You can call 888.261.8328 to find out more about Tropical FCU personal loans.

Video: TFCU league of financial goodness

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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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