topic Re: Members 1st Federal Credit Union in General Credit Topics

Members 1st Federal Credit Union

RedWolfFish77 — Thu, 14 Jul 2022 23:56:48 GMT

Hello there!

I apologize in advance but I was doing some reseach on a somewhat rather large credit union in Pennsylvania and could not find much information on here so I thought I'd share my experiences with them. Members 1st FCU is a decently large credit union based in Pennsylvania. I first joined Members 1st FCU when I was applying for a car loan and they offered the best rate that a young adult that has messed up their credit and rebuilt into the 680's (right around 6%). When the dealership sent my information to Members 1st they only pulled my TransUnion and nothing else. After I had accepted the auto loan and got everything signed, the account showed up on the bureau's extremely fast (Don't recall exact time, sorry).

Fast forward one and a half years, I have since gotten rid of the car, but I kept my membership with them. Members 1st put in $1 to keep my membership active (I did not have to deposit any money). Due to inactivity, last October I received a pre-approval email for their Low Rate credit card with a SL of about $3000. I was iffy on openning another credit card because of high inquiry numbers. BUT, fastforward again to January, I received a call from Members 1st who had asked if I had received the emails about the pre-approval. I thanked them for the offer but initially objected because 1. I was not looking for a low rate card 2. I had just opened my first Amex and did not want to throw any red flags on Amex's side. This is how Members 1st responded on a phone call (I did not mention the Amex card) - But, the representivate said "Since you have exceptional payment history with your auto loan, this approval is a soft pull, we will not conduct any hard pull's on your credit for this card unless you specifically ask for a CLI). I again brought up the low rate card again, and the representative said "we have a Platinum Visa cash back card I can offer you instead". I accepted the Visa Platinum Cash Back which earns 2% back on groceries and gas 1% back on everything else. Credit card was a soft pull approval and a 12.50% APR.

TLDR - Members 1st Federal Credit Union (Location - primarily South Central Pennsylvania (Harrisburg, York, Lancaster, etc).

Auto Loan - TransUnion

Credit Card - Email pre-approval - soft pull (With existing membership) - Most likely TU if hard pull is needed

Values clients - Yes, customer service is stellar and always friendly.

I thank everyone for reading. Hopefully my experiences with Members 1st FCU has been helpful!

Re: Members 1st Federal Credit Union

SouthJamaica — Fri, 15 Jul 2022 01:05:47 GMT

@RedWolfFish77 wrote:
Hello there!

I apologize in advance but I was doing some reseach on a somewhat rather large credit union in Pennsylvania and could not find much information on here so I thought I'd share my experiences with them. Members 1st FCU is a decently large credit union based in Pennsylvania. I first joined Members 1st FCU when I was applying for a car loan and they offered the best rate that a young adult that has messed up their credit and rebuilt into the 680's (right around 6%). When the dealership sent my information to Members 1st they only pulled my TransUnion and nothing else. After I had accepted the auto loan and got everything signed, the account showed up on the bureau's extremely fast (Don't recall exact time, sorry).

Fast forward one and a half years, I have since gotten rid of the car, but I kept my membership with them. Members 1st put in $1 to keep my membership active (I did not have to deposit any money). Due to inactivity, last October I received a pre-approval email for their Low Rate credit card with a SL of about $3000. I was iffy on openning another credit card because of high inquiry numbers. BUT, fastforward again to January, I received a call from Members 1st who had asked if I had received the emails about the pre-approval. I thanked them for the offer but initially objected because 1. I was not looking for a low rate card 2. I had just opened my first Amex and did not want to throw any red flags on Amex's side. This is how Members 1st responded on a phone call (I did not mention the Amex card) - But, the representivate said "Since you have exceptional payment history with your auto loan, this approval is a soft pull, we will not conduct any hard pull's on your credit for this card unless you specifically ask for a CLI). I again brought up the low rate card again, and the representative said "we have a Platinum Visa cash back card I can offer you instead". I accepted the Visa Platinum Cash Back which earns 2% back on groceries and gas 1% back on everything else. Credit card was a soft pull approval and a 12.50% APR.

TLDR - Members 1st Federal Credit Union (Location - primarily South Central Pennsylvania (Harrisburg, York, Lancaster, etc).
Auto Loan - TransUnion
Credit Card - Email pre-approval - soft pull (With existing membership) - Most likely TU if hard pull is needed
Values clients - Yes, customer service is stellar and always friendly.
I thank everyone for reading. Hopefully my experiences with Members 1st FCU has been helpful!

I also joined recently. Found the customer service good. SP for membership. TU for credit cards. I applied for the low rate card, got denied.

Re: Members 1st Federal Credit Union

RedWolfFish77 — Fri, 15 Jul 2022 01:18:00 GMT

Did they say why they denied you? I am interested in their Visa signature card. In order to get it, you need to qualify for a $5,000 SL.

I know they have a history of being moderately conserative and unprediactable sometimes. So I am curious to know if anyone has experiences with their sensativity to new accounts/inquries.

Re: Members 1st Federal Credit Union

SouthJamaica — Fri, 15 Jul 2022 02:45:04 GMT

@RedWolfFish77 wrote:
Did they say why they denied you? I am interested in their Visa signature card. In order to get it, you need to qualify for a $5,000 SL.

I know they have a history of being moderately conserative and unprediactable sometimes. So I am curious to know if anyone has experiences with their sensativity to new accounts/inquries.

It wasn't new accounts or inquiries.

I believe it was high utilization.

Re: Members 1st Federal Credit Union

RedWolfFish77 — Sun, 17 Jul 2022 19:54:08 GMT

When you applied, did you get an instant decision or did you have to wait and hear back?

Thanks!

Re: Members 1st Federal Credit Union

SouthJamaica — Mon, 18 Jul 2022 01:19:26 GMT

@RedWolfFish77 wrote:
When you applied, did you get an instant decision or did you have to wait and hear back?

Thanks!

It wasn't instant. But I think it was quick.

Re: Members 1st Federal Credit Union

RedWolfFish77 — Mon, 18 Jul 2022 01:32:26 GMT

Gotcha, I take it that they probably manually review credit card applications then possibly.. especially if someone's asking for a $5,000 limit..