SchoolsFirst Federal Credit Union Personal Loans are made available for a wide range of credit scores. Whether you have a fair credit score of about 580, or an excellent credit score of 840, you may be eligible for their loans. 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. However, SchoolsFirst Federal Credit Union will examine applications regardless of borrowers’ employment status. The Credit Union only requires that applicants offer proof of their ability to repay their obligations.

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