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Verity Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 11 Aug 2023
Fact checked

Verity Credit Union logo

Verity Credit Union, formerly known as the Postal Works Credit Union, was established in 1933. This Washington-based non-profit financial cooperative has over $580 million in assets and more than 40,000 members. Verity Credit Union provides personalized services including higher interest rates on savings and lower rates on personal loans, new and used auto loans, and HELOCs.

Obtaining a loan is a significant financial step that should not be taken carelessly. Look around to see if you can find a lender who may offer you a lower rate with better terms. If a Verity Credit Union personal loan is your top choice, you should get an idea of how much you can afford to borrow (and repay). Use the Verity Credit Union personal loans calculator to determine your monthly payments and the total costs of your personal 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 personal loans from Verity Credit Union

Verity Credit Union offers secured and unsecured personal loans, which you can use at your discretion. It can be for debt consolidation, home repairs, or medical bills. Whichever personal loan option you choose, you can enjoy flexible terms and competitive rates.

Here are the key features and benefits of a VCU personal loan:

  • Loan amounts: undisclosed but at your discretion and subject for credit approval
  • Loan terms: between 1 year and 5 years
  • Discounts: 0.25% rate discount for automatic payments
  • Interest rates: APR from 8.99% to 19.99%

 

Requirements for a Verity CU personal loan

To apply for a Verity personal loan, you must first become a member. To be eligible for membership at Verity, you just have to live, work, or worship in Washington.

Verity CU doesn’t disclose how you can qualify for its personal loan. However, most lenders expect you to meet the following criteria:

  • Proof of identity (driver’s license, social security number, other state-issued IDs)
  • Proof of address (utility bill, property tax receipt, home insurance copy, mortgage statement, lease or rental agreement)
  • Employment and/or income verification (paystubs, tax returns, bank statements)
  • Minimum credit score of 600 while other lenders require a score of 700 and beyond
  • Minimum debt-to-income ratio of 36% while other lenders approve those with a ratio of 50% or higher

 

Verity 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
Verity Credit Union

Verity Credit Union personal loans

Verity Credit Union personal loans
Estimated Month Repayments
$634 Inclusive of fees
Interest Rate
8.74%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Go to site
We know that personal loans are not a one-size-fits-all solution so we have a variety of options, depending on your end goal. If you aren't sure what might work best for you, read below and learn more about the types of personal loans we offer.
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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.
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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 Verity CU personal loans

Pros

  • Online application available
  • APR discount for automatic payments
  • Receive loan status within 1 business day
  • Repayment term of up to 5 years

Cons

  • No information on minimum and maximum loan amounts
  • The lender doesn’t make its full eligibility criteria clear
  • Applications are restricted to those living or working in Washington
  • No credit score and income requirements listed

FREQUENTLY ASKED QUESTIONS

How much is the interest rate on a VCU personal loan?

Potential rates for a Verity personal loan can range between 8.99% and 19.99% APR.

What are my Verity loan payment options?

There are many ways you can pay back your VCU personal loan. You can add it as a payee to your VCU Bill Pay account every month. You can pay over the phone or via debit or checking account from another bank. You can also have your loan payment automatically deducted from your account.

Can I skip a loan payment?

Yes. Verity offers a Skip-a-Loan program for personal loans once every 12 months.

How long does it take for Verity CU to approve a personal loan?

Verity reviews loan applications within twenty-four hours of receipt.

Video: Your future. Your partner. Verity Credit Union

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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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