Personal Loans FAQs

In most cases, First US will send the loan funds directly to your lender(s) to pay off the loan(s) included in your consolidation.

Your loan funds will either be deposited into your First US account or sent directly to another financial institution to pay off or consolidate an existing loan.

Yes. There are no early payoff penalties associated with First US Community Credit Union personal loans. 

Yes, we need to make sure the payment is affordable and within guidelines before granting an approval.

A Share Secured Loan is a good option for building or repairing credit, or to access funds while maintaining the savings balance. Credit history is not a qualification for getting the loan and the payment history is reported to major credit reporting agencies.

Funds already on deposit are held, dollar-to-dollar, as collateral against the loan. As the loan is paid down, shares are released accordingly.

Personal loan terms range from 12 to 60 months.

No. There are no application or processing fees.

First U.S. offers Personal Loans up to $50,000. The maximum loan amount will be determined by a variety of factors, including monthly income, credit score and credit experience. Loan amounts over $25,000 will have additional income requirements, including a secondary source of repayment. 

Personal loans cannot be used for post-secondary educational expenses.

Personal loans are highly flexible. Common uses include debt consolidation, emergency expenses, home renovations or major life events.

Credit history is not a consideration for loan approval. However, there are several other qualifying considerations, including ability to afford the payment and account in good standing.

To be eligible for loan approval,

• The account must be opened for at least 30 days and the new account warning must have expired already.
• Your net payroll must be directly deposited into a First U.S. account when you apply. *

* Direct deposit is used to determine eligibility for this loan and is not a repayment requirement.

Quick Cash loan terms range from 1 to 3 months.

There is a non-refundable $20 application fee per loan application. For Military Lending Act-covered borrowers, there is no application fee.

Loan amounts range from $200 to $500.

Quick Cash loans are limited to 6 per year, with a maximum of 3 in a rolling 6-month period. Only one loan may be open at any time and outstanding balances may not be rolled into a new loan.