DCU Membership?

[Anonymous]

I see a lot of people here mention DCU as a great place to secure financing, but I see they are in MA.  Do you need to be in MA to apply?  I guess I have to be a "member" first?  Does anyone know how long it may take to be able to use the auto loan after I get approved?

[09Lexie]

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@Anonymous wrote:

I see a lot of people here mention DCU as a great place to secure financing, but I see they are in MA.  Do you need to be in MA to apply?  I guess I have to be a "member" first?  Does anyone know how long it may take to be able to use the auto loan after I get approved?

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You do not have to live in MA. I am in CA and I'm a member.  Once your membership is approved you are welcome to apply for your auto loan.  

They pull EQ and it will be two HP's - 1 for membership and 1 for credit. 

[Anonymous]

Thanks! How long did it take to approve membership? Im a little confused by what to do first...apply for an auto loan to see what I can get and then apply for membership or apply for membership to get the process started.  I dont even see where to apply for membership or what that entails...

[Smooth954]

Membership will be in the form of a checking are savings account are both. You may have to make a one time donation to a charity of their choice if you don't meet membership requirements

[Anonymous]

I am in NC and applied for a Checking and a Savings account Monday night. Answered 5 identity questions and paid $10 fee to join the Reach Out For Schools to be eligible to apply for membership at DCU. I was approved instantly, and received my welcome email yesterday. I am waiting for the package to arrive in the mail. 

[DevotionToU]

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@Anonymous wrote:

I am in NC and applied for a Checking and a Savings account Monday night. Answered 5 identity questions and paid $10 fee to join the Reach Out For Schools to be eligible to apply for membership at DCU. I was approved instantly, and received my welcome email yesterday. I am waiting for the package to arrive in the mail. 

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This was the process I went through as well.  Some people seem to need to provide more identification than others, but I answered the questions on their site during membership application and I was not required to send or fax any additional documents.  Once you are a member and get your member number/pin you can apply for the loan after logging in. 

[Simply827]

Ditto to what every one else said. Membership first, then apply for the loan. A 675 will get you their lowest rate, which is 1.74 without Relationship checking.

I imagine you could go out and buy a car the same day with approval. I just happened to shop around for a couple of days.

[dhrren]

It's crazy.  I have over 700 Credit score and they want a driver's license, and utility bill.  Seems random.  Not sure.  They do seem to be slow though.

[dhrren]

woops.  Accidental duplicate.  Please delete.

[DevotionToU]

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@dhrren wrote:

It's crazy.  I have over 700 Credit score and they want a driver's license, and utility bill.  Seems random.  Not sure.  They do seem to be slow though.

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They just want to verify you are who you say you are.  I had been at my current address for 2 years so they did not have to do address verification.