Pros Explained

• Low minimum loan amount: You can borrow as little as $1,000 with NASA Federal Credit Union. While some lenders may go even lower than that, it's still better than some of the 澳洲幸运5开奖号码历史查询:best personal loans on the market.
  
• Offers pre-qualification: While the 澳洲幸运5开奖号码历史查询:credit union doesn't provide loan eligibility criteria upfront, you can gauge your approval odds and view potential offers with a soft credit check, which won't impact your credit score.
  
• Competitive interest rates: NASA Federal Credit Union’s rate maxes out at the 18% limit set by the National Credit Union Administration (NCUA), no matter your credit score. 
• Easy to join: Borrowing from NASA Federal Credit Union automatically enrolls you as a member. But to become a member, you also need to qualify. The credit union provides a free nonprofit organization membership—which also meets a requirement for credit union membership—for those without a connection to NASA. 

Cons Explained

• Minimum interest rate is a bit high: While the 澳洲幸运5开奖号码历史查询:federal credit union offers a below-average interest rate for borrowers with excellent credit, you may get an even lower interest rate with an 澳洲幸运5开奖号码历史查询:online personal loan.
  
• Middling maximum loan amount: The lender offers loans up to $30,000. But if you need more than NASA Federal Credit Union offers, some other lenders go as high as $100,000.
• Membership required: While NASA FCU membership isn’t restricted to a limited geographic area like other credit unions, you’ll still need to come up with $5 to deposit to become a member. 

Types of Personal Loans Offered by NASA Fede🐈ral Credit Union

NASA ♌Federal Cred𓂃it Union offers several loan types:

• An unsecured personal loan called a “Personal Signature Loan”
• CashLine line of credit, which is a revolving loan
• A share-secured loan that uses your banking account as collateral
• A certificate-secured loan that uses a NASA FCU CD as collateral

Interest rates are much lower with share and certificate-secured loans, and you can borrow more—up to $125,000, depending on how much you have deposited. In contrast, a line of credit has higher interest rates than a personal loan with fixed interest and amount. 

Regardless of which type of loan you choose, you can use it for just about anything you want, as NASA FCU doesn't specify any restrictions. Common 澳洲幸运5开奖号码历史查询:reasons for a personal loan include:

• Debt consolidation
• Home improvements
• Moving
• Medical bills
• Weddings
• Funerals
• Vehicle repairs
• Vacations

Time to Receive Personal Loan Funds

The credit union says it'll fund your loan in as soon as it has received all required loan documents.

Borrower Requirements

NASA Federal Credit Union doesn't disclose a 澳洲幸运5开奖号码历史查询:minimum credit score or income requirement for its 澳洲幸运5开奖号码历史查询:personal loans꧑, making it difficult to determine whether you qualify. However, you can review the pre-qualification process to see your approval chances. 

While the credit union has 💯a membership requirement, the lender also makes it easy for anyone to join.

NASA Fed🐼eral Credit Union Personal Loan Features

• Skip-a-payment feature: If you've made at least six payments on your loan and need to skip one, you can do so by filling out an application and paying a $25 service fee. Remember that skipping a payment doesn't stop interest from accruing.
  
• Credit protection: You can purchase a credit protection insurance policy, which cancels or waives loan payments—up to your contract's maximum—if you die, become disabled, or lose your job involuntarily.
  
• Member benefits: As a NASA Federal Credit Union member, you can take advantage of several benefits based on your combined balances with the financial institution. Potential perks include waived account fees, free checks, and notary service.
• No changed due dates: Many lenders allow you to shift a loan repayment due date. NASA FCU does not, unless you refinance your loan. 

Co-Signers and Co-Applicants

NASA Federal Credit Union allows you to apply with a co-borrower, which c💛an improve your chances of getting a loan and securing better terms.

A co-borrower is different from a co-signer in that co-borrowers share the responsibility of making payments and access to the loan fu🌄nds.

Can You Refinance a Personal Loan With NASA Fed꧃eral🎀 Credit Union?

NASA Federal Credit Union allows existing borrowers to refinance a personal loan with the credit union once. However, you must get a minimum of $1,000 in cash out of the transaction, which increases your loan amoun♌t by the same amount. You also cಌan’t have more than $50,000 in unsecured credit with NASA FCU.

Customer Service

For many loans, you’ll speak with a l⛄oan spec🐽ialist. 

Customer Satisfaction

Our Combined Consumer Review metric, which is calculated by aggregating Trustpilot, Google, and Better Business Bureau (BBB) reviews, gave NASဣA Federal Credit Union a score of 0.099 out of 5.

On Trustpilot, NASA FCU has a score of 3 out of 5 based on two customer reviews. Meanwhile, on the BBB, it has a score of 1.08 out of 5 based on 12 customer reviews.

NASA ♓Federal Credit Union Membership Requirementsꦕ

In general, you can join NASA Federal Credi🌺t Union if you’re associated with NASA, but the credit union has aꦏ way for everyday people to join as well.

First, you can join if you belong to 𒊎any of the following groups:

• Employees and retirees of NASA headquarters, any NASA center or facility, or the National Academy of Sciences
• Employees and members of partner companies or associations
• Relatives and household members of a current member

But if you don't belong to one of these groups, the credit union makes it easy for you to join. NASA FCU provides a complimentary one-year affiliated membership to the educational nonprofit National Space Society when you open an account. This membership qualifies you for NASA FCU membership. After the one-year complimentary membership is up, there is no additional cost. 

To fully establish your membership, you must also set up a ꦜfree primary savings account with a minimum $5 deposit.

How to Apply for a NASA F🀅ederal Credit Union Personal Loan

1. Pre-qualify: Start by clicking the "Check Your Rate" button on the credit union's website to start the pre-qualification process.
2. Complete the pre-qualification process: You'll provide your full name, date of birth, Social Security number, citizenship status, address, contact information, and employment and income details. Remember that the process won't impact your credit score.
3. Review and apply for a loan offer: If you're pre-qualified, you can compare offers. Check the loan amounts, interest rates, repayment terms, and other details to ensure it's the right fit. To complete an official application, you may also need to provide proof of income, a copy of your government-issued ID, and other documentation.
4. Accept your loan offer and receive the funds: If the lender approves your application, you'll receive a final loan offer, which may or may not be the same as the initial quote. If the terms are satisfactory, sign the loan agreement.

O🌳ther Banking Services and Loans Offered by NASA Federal Credit Union

In addit❀ion to personal loans, NASA Federal Credit Union also🉐 offers:

• Checking, savings, and CD accounts
• Personal lines of credit
• Credit cards
• Student loans
• Auto and RV loans
• Mortgage loans
• Home equity loans and lines of credit

Compare 🤡NASA Federal Credit Union With Other Persᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚonal Loan Lenders

The Bottom Line

NASA Federal Credit Union offers competitive interest rates, even if its lowest rate is a bit high. If your credit isn't perfect, you may be able to get a lower rate with the credit union than with another lender. The lender also offers flexible repayment terms and a low minimum loan amount.

However, if you have excellent credit, you could get a lower rate with a different lender, along with the ability to borrow mo🅷re.

Can Anyone Join NASA Federal Credit Union?

Yes, even if you don't qualify for membership using the credit union's basic criteria, NASA FCU will give you access via a qualifying nonprofit organization when you open an account. 

Is NASA Federal Credit Union FDIC Insured?

No, because it's a credit union, it's insured by the NCUA instead of the FDIC. That said, NCUA provides credit unions the same insurance coverage (up to $250,000 per account holder) as the FDIC provides for banks.

What Credit Score Do You Need to A🌟pply for a NASA Federal Credit Union Personal Loan? 

The credit union doesn’t specify a minimum credit score requirement. NASA FCU uses 澳洲幸运5开奖号码历史查询:Experian VantageScore to determine the interest rate on your personal 𒉰lღoan. However, if you're unsure about your eligibility, you can get pre-qualified without impacting your credit score.

How Loꦫng Does It Take to Get a Per♋sonal Loan From NASA Federal Credit Union? 

Once the credit union receives 𓂃your loan documents, the credit union will fund your 🉐loan.

Does NASA Federal Credit Union Use Zelle?

No, NASA Federal Credit Union does not allow customers to use Zelle to s🍬end money to friends and family members.

Methodology

Investopedia’s list of the best personal loans is based🗹 on comprehensive research of 59 lenders. 

To evaluate and rank personal loan providers, we collected and scored over 2,600 data points from 59 lenders, incluꦕding traditional banks, credit unions, fintechs, and finance companies. We researched and evaluated 45 criteria such as APRs, loan amounts and terms, fees, customer experience, and more. Research and data collection occurred from July 23 to Oct. 18, 2024. 

We organized the 45 criteria into four categories and weighted 26 (involving more than 1500 data points),♌ using the others for background and editorial richness. We then scored and weighted each criterion to develop our overall star rating for each lender. The categories and their weights for this project are:

• Borrowing Requirements: 24.00%
• Lender Features: 24.00%
• Loan Costs: 30.00%
• Loan Terms: 22.00% 

Learn more about how we evaluated personal loans in 澳洲幸运5开奖号码历史查询:our complete methodology.