If you are considering Members 1st Federal Credit Union Personal Loans, you will be pleased to know these loans are available for a wide range of credit scores. Whether you have a fair credit score of about 600, or an excellent credit score of 840, you are likely eligible for Members 1st loans. In addition to meeting these credit requirements, you must have a minimum of 18 years of age or the state minimum, whichever is higher. When it comes to annual income requirements, the lender does not disclose any specific numbers in their official channels. Still, Members 1st Federal Credit Union will examine applications regardless of borrowers’ employment status. The Credit Union only requires that applicants are able to provide proof of their ability to repay their obligations.

Yes, it does. Members 1st Federal Credit Union Personal Loans’ payments are reported to all the three major reporting agencies (Equifax, Transunion, and Experian). This means that making regular on-time payments to your creditor has a positive impact on your credit score. It also improves your ability to demonstrate financial responsibility and sets you up for better interest rates on future loans or even credit cards.