Should I join a credit union?

[bott6698]

Hi, Those of you that know me on here know I have 2 hfc loc's at very high interest and both were for home improvments that were needed. Now with that said I have read a lot on here that credit unions are the best to join and are easier to be approved for loans for.

Well I called the local credit uinon and it is very easy to join,. I only have to deposit $5 to start a savings account lol and she said I would be a member.

Now with that said, How long do you think it would take before I could refi one of my loc's into a closed end loan at a decent interest rate from the CU and at the same point what CS would I need to be at to qualify?

[Anonymous]

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bott6698 wrote:

Hi, Those of you that know me on here know I have 2 hfc loc's at very high interest and both were for home improvments that were needed. Now with that said I have read a lot on here that credit unions are the best to join and are easier to be approved for loans for.

Well I called the local credit uinon and it is very easy to join,. I only have to deposit $5 to start a savings account lol and she said I would be a member.

Now with that said, How long do you think it would take before I could refi one of my loc's into a closed end loan at a decent interest rate from the CU and at the same point what CS would I need to be at to qualify?

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Usually you can apply for credit products the same day you become a member.  As far as what kind of scores you need and so on, that varies from CU to CU, as each has different underwriting standards.  There's really no general answer.

[a0034d]

We recently joined my husband's credit union in Feb. We applied for a unsecured loan this month and got approved. I don't think you have to be a long time member to get a loan f/ most credit unions. I also just joined NFCU b/c my stepdad is Navy. I would defiantly recommend joining a CU.

[bott6698]

Ok Great, I am gonna go get an accout then. And once my credit disputes are done I will apply for a loan.

Thanks