Loans

SchoolsFirst Federal Credit Union Personal Loans review

In this SchoolsFirst Federal Credit Union Personal Loans review you will learn about this loan's benefit to school employees in California.

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SchoolsFirst Federal Credit Union Personal Loans: a worthwhile option for school employees in California schools

schoolsfirst federal credit union personal loan
Learn how this Federal Credit Union works. Source: The Post New.

Based in California, this credit union considers applicants with fair credit. Read on and find out everything you need to know in this SchoolsFirst Federal Credit Union Personal Loans review.

schoolsfirst federal credit union personal loan

Applying for SchoolsFirst Personal Loans online

This SchoolsFirst Federal Credit Union Personal Loans application guide will help you get your loan today!

Offering exclusive membership to school employees and their families, SchoolsFirst Federal Credit Union was founded in 1938 in Santa Ana, CA.

It makes loans available only in that area for California school employees and their families. Keep reading and learn more.

  • APR: 7.95% – 18%
  • Loan Purpose: Auto Loans, Mortgage Purchase, Mortgage Refinance, Home Equity
  • Loan Amount: $500 to $50,000
  • Credit Needed: Fair
  • Terms: Up to 60 months
  • Origination Fee: Yes. Not specified.
  • Late Fee: No
  • Early Payoff Penalty: No

How do SchoolsFirst Federal Credit Union Personal Loans work?

SchoolsFirst Federal Credit Union offers the SchoolsFirst Federal Credit Union Personal Loans at APR starting at 7.95%. However, if you have good credit, you may be in a more advantageous position.

With a good credit score, it is possible for you to qualify for loans at better interest rates.

The lender lets you pre-qualify with a soft credit check. Since this is just a soft credit pull, there is no impact on your credit score.

This lender offers loan amounts starting at $500 and going up to $50,000, with no prepayment fee and some of the lowest interest rates in the market. However, there might be an origination fee.

Still, the credit union does not charge prepayment or late payment fees if you miss one of the monthly payments. Plus, they offer loan terms of up to 5 years (or 60 months).

To apply for SchoolsFirst Federal Credit Union Personal Loans, you must be 18 years old or older. The lender does not disclose a precise minimum annual income it requires from applicants.

However, applicants do not need to worry about the lender assessing their employment status. What they must do instead is be able to prove they are able to repay the loan.

SchoolsFirst Federal Credit Union Personal Loans: should you apply for it?

person counting money personal loan
Get a personal loan even if you have fair credit. Source: Adobe Stock.

Now you are familiar with most of the features of this loan. However, our SchoolsFirst Federal Credit Union Personal Loans review would not be complete without us weighing the pros and cons.

So have a look at the list we have prepared below.

Pros

  • Pre-qualify with a soft credit check
  • No prepayment fee
  • No late fee
  • Lower-than-average interest rates

Cons

  • May charge an origination fee
  • Only available in California

What is the required credit score?

SchoolsFirst Federal Credit Union Personal Loans will accept applicants with credit scores of at least 580 and up to 840.

This means you can get this loan if you have fair credit as well as good or excellent credit.

Learn how to apply for  SchoolsFirst Federal Credit Union Personal Loans

Do SchoolsFirst Federal Credit Union Personal Loans sound like a fit to you? If so, you might want to take the next step and apply for a loan with this institution.

We have prepared a complete step-by-step guide to assist you in the application process. Just hit the link below, and we will show you how to do it.

schoolsfirst federal credit union personal loan

Applying for SchoolsFirst Personal Loans online

This SchoolsFirst Federal Credit Union Personal Loans application guide will help you get your loan today!

About the author  /  Danilo Pereira

Danilo is a copywriter with a passion for learning. Deeply interested in philosophy, politics and arts.

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