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Wescom Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 11 Aug 2023
Fact checked

Wescom Credit Union Financial logo

Wescom Credit Union was founded in 1934 and is formerly known as Telephone Employees Credit Union. This California-based credit union has nearly $6 billion in assets and over 200,000 members. They offer a full range of products and services for personal banking, including deposit and checking accounts, loans and refinancing, investment management, and financial planning.

A loan is a serious financial step that should not be taken lightly. But you’re safe as long as you’re responsible enough about the way you will use the funds and you have a clear plan to pay it back. You might be thinking, ‘Is a personal loan from Wescom Credit Union right for me?’ You can use the Wescom Credit Union personal loans calculator to determine how much you can afford to borrow and repay.

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 Wescom Credit Union in a nutshell

As with any other lender, Wescom 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 $100,000
  • Loan terms: up to 60 months
  • Origination fee: $0
  • Prepayment penalty: $0
  • Interest rates: from 9.90% to 17.90% APR

 

Requirements for a Wescom Credit Union personal loan

A Wescom Credit Union personal loan is only available to current members and employees. If you are not yet a member, there are different ways to join. Membership is available to anyone who:

  • Lives, works, worships, or attends school in Wescom Credit Union recognized counties
  • Is a family member of a Wescom Credit Union member
  • Is a current or former employee of Wescom Credit Union recognized establishments, businesses, or institutions

 
There is no available information on borrower criteria for a Wescom 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.

 

Wescom 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
Wescom Credit Union

Wescom Credit Union personal loans

Wescom Credit Union personal loans
Estimated Month Repayments
$837 Inclusive of fees
Interest Rate
28.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Go to site
n/a
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 Wescom Credit Union personal loans

Pros

  • Wide range of borrowing limits
  • Borrow small for a minimum $500
  • Qualified borrowers can receive as much as $100,000
  • Lower APRs compared with those from other lenders
  • No origination fees
  • No prepayment penalties

 

Cons

  • Non-members cannot apply
  • Loan approval and funding time unclear
  • No information about borrower criteria and requirements

Frequently asked questions

How much can I borrow from Wescom Credit Union?

Wescom Credit Union offers personal loans between $500 and $100,000.

How long should I repay a personal loan from Wescom Credit Union?

The repayment terms of a personal loan from Wescom Credit Union are up to 60 months (or 5 years).

How much does Wescom Credit Union charge for its personal loans?

The personal loan rates from Wescom Credit Union start at 9.90% up to 17.90% APR.

Can I skip a loan payment?

Yes. As a Wescom Credit Union member, you qualify to skip two consecutive loan payments in a twelve month period as long as you are in good credit standing.

If I have a low credit score, will I still be eligible for a loan from Wescom Credit Union?

Approval for a Wescom Credit Union personal loan is based on your creditworthiness and proof of capacity to pay. If you have a low credit score, work to improve it so you can get the best deal that will help you achieve your financial goals.

Will it cost me to get my FICO® Score?

No. Wescom Credit Union provides a complimentary service for members where they can check their monthly credit score with FICO® for free.

Video: Not a bank, a 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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