DCU Refi Process Question

[Jamex]

I just applied for an auto loan refi with DCU, and after hitting submit the message said that my application is being processed and that a representative will be in touch with me shortly. Same thing was just sent to me via email.

Does this mean that I'm definitely declined? Or does DCU sometimes take a while (and sometimes follow-up questions) to get to an approval? Just curious if anyone else has any experience with this. Thanks very much!

[Remember0]

Definitely normal with DCU. If they don't approve you by say Wednesday, I'd call them and they'll do your app right over the phone.

[09Lexie]

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@Jamex wrote:

I just applied for an auto loan refi with DCU, and after hitting submit the message said that my application is being processed and that a representative will be in touch with me shortly. Same thing was just sent to me via email.

Does this mean that I'm definitely declined? Or does DCU sometimes take a while (and sometimes follow-up questions) to get to an approval? Just curious if anyone else has any experience with this. Thanks very much!

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Are you currently a member?

[Jamex]

Thanks so much for the replies, Remember and Lexie. Really appreciate it.

Lexie - I am not currently a member. This is my first time interacting with DCU. Would that affect the approval process/timeline?

[09Lexie]

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@Jamex wrote:

Thanks so much for the replies, Remember and Lexie. Really appreciate it.

Lexie - I am not currently a member. This is my first time interacting with DCU. Would that affect the approval process/timeline?

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Yes, as they tend to process members apps first. Remember, it will be a second HP for the membership.  I would call the lending dept first to ask the status of your app.  If they say we are just waiting on membership approval, then go for it.  If they inform you your chances are slim to none, then I would not waste an inq unless you want them as your CU. 

Personally, i bank with them- cc and auto loans and I've been extremely happy. 

[beachdudede]

In my case dcu did the loan first. I would call today. I did my loan app over the phone and was approved in 20 mins. I was then transferred to membership. My membership was not established until i called to say we were on our way to look at a car. The loan department contacted membership and got me established while i was on hold. That afternoon we drove the car home. I got the dcu check by fed ex on saturday and am taking it to the dealer tomorrow. It is made out to the dealer but they send checks for the exact amount to the borrower to take to the dealer.