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United Federal Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 11 Aug 2023
Fact checked

United Federal Credit Union logo

United Federal Credit Union was chartered in 1949 and is found in St. Joseph, Michigan. It has assets of over $3.8 billion and serves around 191,000 members. They have a full suite of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards.

A personal loan can be used to finance large purchases, consolidate credit card debt, or provide funding to fill an income gap. If you think a loan from United Federal Credit Union is the best answer to your financial difficulties, make sure you can make timely payments. Curious about how much you have to pay back, monthly and overall? Let the United Federal Credit Union 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 United Federal Credit Union in a nutshell

Like other lenders, United 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:

  • Loan amount: undisclosed (based on borrower’s financial profile, credit history, and repayment option)
  • Loan terms: up to 60 months
  • Loan fees: $0 application fee; $0 prepayment penalty
  • Interest rates: starts at 13.39% APR

 

Requirements for an United Federal Credit Union personal loan

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

There is no available information on borrower criteria for a United Federal Credit Union personal loan. 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.

 

United Federal Credit Union personal loan calculator

Loan Amount

$20,000

Term

3 months

United Federal Credit Union

United Federal Credit Union personal loans

Estimated Month Repayments
Interest Rate
9.64%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
You've got plans. We've got personal loans to help you make them happen.

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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 United Federal Credit Union personal loans

Pros

  • Receive your funds upfront in one lump sum
  • No application fee
  • No prepayment penalty
  • Rate discount for Members with an Ultra Checking Account

 

Cons

  • High base interest rate
  • No loan amount information
  • No debt protection plan
  • No principal only payment options

Frequently asked questions

How much can I borrow from United Federal Credit Union?

There is no information regarding minimum and maximum loan amounts from United Federal Credit Union.

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

United Federal Credit Union offers personal loan terms up to 5 years (60 months).

How much does United Federal Credit Union charge for its personal loans?

The personal loan rates from United Federal Credit Union start at 13.39%.

What are the fees involved when applying for a personal loan from United Federal Credit Union?

United Federal Credit Union personal loans do not have application fees or prepayment penalties.

Does United Federal Credit Union offer a rate discount for loans?

Yes. United Federal Credit Union provides a 0.10% rate discount for maintaining an Ultra Checking account with a positive balance.

Does United Federal Credit Union offer a Skip-a-Pay option?

Yes. United Federal Credit Union allows borrowers to defer up to 2 loan payments per calendar year for a $40 fee.


Video: United Federal Credit Union Opens in Northern Nevada

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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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