Personal Loans from CU with somewhat OK credit?

[Jon85]

Hi, all! I need some advice, please...

I'm not a member of a CU, I should've done that two years ago when I got my new job. I make about 6K a month from my work, and it gets deposited into my bank account.

I'm not a member of a CU, but want to join tomorrow...but I'm wondering if you have to have a long history with a CU before they will give you a loan or credit of any kind? Because I know CUs are nice when it comes to loans and credit, especially with APRs and such.

I need a $3,500 personal loan just for 30 days...I'm getting a really big bonus check on May 29th, so I can pay it in full then, or I'll just pay $500 each month just to help my credit while I have the opportunity--but I'm wondering if they'll approve me or not. My FICOs are 650, 665, and 625, and I have SLs delinquincies from 2 years ago before I rehabbed them... new serviced loans have been clean since, and one paid judgement from 2008 and one paid CO from 2008. 

I have 5 CCs, all in good standing with 1% utilization from the last 12 months. 

Any opinions on whether I'll get approved or not if I join tomorrow?

[Anonymous]

You could take a current copy of your report around to some local CUs, and ask them what they can do for you.

You might gain some traction if you make them your main bank, with direct deposit and so on.

[fot1]

I opened a checking account and applied for a loan at the same time with my CU.. hard to say what your local CU's will do though.

[Jon85]

Thank you for the response... if you don't mind me asking, were you able to get approved?

[TRC_WA]

My credit union BECU gave me a car loan and a credit card...

6 months after I opened an account with them on the CC and a year for the car loan.  They most certainly didn't do anything the same day... except tell me to come back in 6 months when my scores were higher.  

The good thing is I am in the door with them though so I should have no problems in the future getting a personal loan and/or a home loan.  They will be the first place I apply.

[fot1]

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@Jon85 wrote:
Thank you for the response... if you don't mind me asking, were you able to get approved?

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Yeah I was approved for $6500Had to do a LOA for the numerous inquires I had.. Was rate shopping on mortgage and Car loan at the time..

[Jon85]

Thank you everyone for the responses and input.

I went today and joined by opening a savings account, and the teller said I could apply for a loan and/or credit right away if I wanted to, so she brought to me a loan officer.

She pulled my credit report, said my score as 680 and that I qualified for 8.5% APR, for my $3,500 request. She said to her everything looked good, and that she'll have a final decision by tomorrow morning after she gets an official response from her "underwriters" (as she put it).

Fingers crossed!

[Involver]

Good luck!