NFCU Personal Loan Approval or not?

[Anonymous]

I'm not sure if this is the right forum, but I hope so. Earlier today I applied online for a personal loan of $1,200 with NFCU. It said I was approved and I had to sign a promissory note and everything online. I even got an email says it was approved and everything. Well, I decided to go online under the check application status and it says "Review in Process". Was I approved for the loan or what is going on?

[Jarnog]

I could be mistaken, but I believe this is 'standard', so to speak for NFCU.

Same thing happened to my mother when she applied for refi for her auto.  It was in review, she got a text and call stating it was approved.  But online it stayed at "review" until like the next day.

I'd say you're good to go, just get them the info, pick up or wait for the mailed check or deposit into your account and enjoy!!

And GRATS!!!

[Anonymous]

That's fairly common with credit unions.  Often you will get an instant approval online for a loan/credit card application but these approvals are still subject to review by an underwriter.  I'm sure that as long as nothing is amiss your loan will be approved.  I would send a secured message to them tomorrow if you havnet heard anything more.

[Creditaddict]

1. it's pending until you sign the promisery.

2. why did you apply for such a small amount? do you have a credit card and checking line of credit with them already?

[Anonymous]

I would suggest using your line of credit if you have it... unless of course you are getting a great APR on the personal loan.

[xangoboy]

My mom's husband got CC $5k, navchek $15k and personal loan $6k from NFCU all within a week of one another. Interestingly enough, he only got 1 hp for both LOC and personal loan. And even after he was approved for both LOC and personal loan his status was still review in process (even after signing the promissory note), so ymmv On that. Best to just call in or like Irish said and send a secured message.

Congratulations though!

[Supermama75]

I just applied for an NFCU personal loan today via an offer in my inbox.  I asked for 30K for debt consolidation (plus a little extra) and was instantly approved for $26.4K.  I e-signed the promissory note so I'm pretty sure it's a done deal.  I'm actually pretty surprised as my credit is only average and I have a lot of credit card debt.  I've never missed a payment or anything though.  I just keep balances.  I'm shocked and excited that I'll be able to pay all of my credit card balances down and will only have one monthly payment to make. It doesn't look like there is any early payment penalty attached to the loan so I plan to pay this one down pretty quickly, pay off all my credit cards and hopefully breathe a bit easier.  I'd say you're probably good to go once you sign the promissory note.

[Anonymous]

Supermama75,

Congratuations!

I'm actually in the market for a personal loan about half that size. Just out of curiosity, what are your FICO scores and income like? Just wondering if I have a shot

I'm $45k/yr and my FICO scores are in the 650s. 4 missed payments lifetime, and 1 baddie.

Thank you!

[Supermama75]

Hi-  Thanks!  My FICOs are probably around 630 ish.  My income is around 70K per year and I have been a member with them for about 1.5 years. I have also had direct deposit set up with them for the entire time of my membership. They sent me an email offer and I applied via the link.  I was in no way expecting the approval but was super happy to see it.   I bet you have a shot.  They seem to be pretty generous to their members re loans, credit cards, etc.  I'd say go for it.  For me, it was only one hard pull on EQ.  The loan proceeds were overnighted to me.  Best service ever.  I immedately paid off all my credit cards and all outstandings bills I have, put all my cards in a drawer and am feeling super happy and light.  

[Anonymous]

Well congratulations!

Thank you for all the info too. I'm not even a member of NFCU, but was just trying to gauge my odds with my local credit union.

Thanks for the help!