Wescom Credit Union does not disclose a specific credit score needed to get a personal loan, according to customer service. Wescom Credit Union will also look at more than just your credit score when evaluating your personal loan application, including your income, existing debts and recent credit inquiries.
You will also have to be a member of Wescom Credit Union to apply for a loan. To become a member, you must live, work, worship or attend school in one of eight Southern California counties. The counties include Los Angeles, Orange, San Bernardino, Riverside, San Diego, Santa Barbara, Ventura and Imperial. If you graduated from UCLA but don’t live in any of these counties, you can still apply.
The best credit union debt consolidation loans are those offered by Alliant Credit Union, Pentagon Federal Credit Union and Connexus Credit Union. They have APRs below 8%, offer loan amounts up to $20,000-$50,000, and are available to the general public.
Most credit unions have strict requirements for membership. Typically, those requirements are living/working in a certain area or being related to an existing member. But Alliant, PenFed and Connexus are among a small group of credit unions whose membership is open to everyone. Regardless of location or affiliation, anyone can join by making a small donation.… read full answer
It’s important to note that while these credit unions don’t offer products specifically called “debt consolidation loans,” they offer personal loans that can be used for any purpose. That includes debt consolidation. And that is the case with most lenders, not just credit unions.
Credit union debt consolidation loan options:
Alliant Credit Union: Loans up to $50,000 with APRs as low as 6.49%. Anyone can join with a $5 donation to Foster Care for Success.
Connexus Credit Union: Loans up to $20,000 with APRs as low as 7.99%. Anyone can join with a $5 donation to the Connexus Association.
Pentagon Federal Credit Union: Loans up to $25,000 with APRs as low as 6.49%. Anyone can join with a $17 donation to the National Military Family Association or Voices for America’s Troops.
Georgia’s Own Credit Union: Loans up to $25,000 with APRs as low as 8.24%. Anyone can join with a $10 donation to the Georgia’s Own Foundation.
First Tech Credit Unions: Loans up to $50,000 with APRs as low as 10.25%. Anyone can join with an $8/year Financial Fitness Association membership.
NASA Federal Credit Union: Loans up to $30,000 with APRs as low as 13.15%. Anyone can join with a free National Space Society membership.
Many banks and online lenders offer lower minimum APRs than some of these credit unions. But one important feature of credit unions is their mandatory APR cap. Federal credit unions cannot charge more than an 18% APR. And state credit unions have similar limits set by each individual state.
Banks and online lenders can have APRs as high as 36%. So a credit union can be a good place to get a cheaper debt consolidation loan.
A personal loan from Navy Federal Credit Union is not hard to get approved for if you have enough income to afford the loan, and a valid bank account. Approval by Navy Federal Credit Union is never guaranteed, though, even if you meet all the requirements.
Requirements to Get Approved for a Navy Federal Credit Union Personal Loan… read full answer
Credit Score: Not disclosed
Income: Not disclosed
Citizenship: U.S. citizen, permanent resident, or immigration visa holder
Identification: SSN or ITIN
Bank Account: Verifiable bank account
Residency: All states as long as you have a NFCU membership
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