Consumer Loans FAQs

What rates can I expect on a loan?

We offer low fixed- and variable-rate loans based on your FICO score and your Term- and Loan-to-Value ratios (if applicable).

What terms are available?

Terms are available from 36 to 96 months depending on the type of loan, amount, and your credit profile and Loan-to-Value ratio.

What are the minimum qualifications for a loan approval?

You must be at least 18 years old, employed or have a verifiable source of income, the ability to repay the debt, and a stable credit history. Each loan is fully underwritten by Loan Officers.

Will the Credit Union check my credit?

Yes, your credit report will be ordered from Experian when the application is submitted. If you apply with a co-borrower or co-signer, they will have a credit report ordered as well.

How long does it take to get a loan decision?

Loan Reps are available at our full-service branches during normal business hours. You can also call or email us. We take pride in our member service and our Loan Reps work hard to give you an answer within 24 hours after all your needed information is received.

How do I know if I'm approved, or not?

Once your Loan Request is received, our Loan Technician contacts you to follow up on any additional documentation needed. Once all required information is received, a Loan Officer will contact you within 24-48 hours.

How long does it take to fund the loan?

We work hard to fund your loan the same day it's approved, provided all appropriate documents are received and signed by 2:30 p.m. PST.

How can I repay the loan?

There are several convenient payment options for you:

• Farmers Payroll or Folio Deduction.
• Automatic Transfer from a Credit Union account.
• Online Banking/FONLINE Transfer made directly by the member.
• Direct Payment (ACH) from another Financial Institution.
• Payments can be made in person at any Credit Union branch or shared branch.

How are the interest charges calculated?

All of our consumer loans are simple interest loans. This means that interest accrues and is calculated on the unpaid principal balance from the date of the last payment.

Is there a prepayment penalty?

We never charge you a prepayment penalty on consumer loans.

How do I know if I can save money by refinancing my car?

Our Loan Reps can provide you with a comparison. Just give us the payoff amount on your existing loan, current interest rate, approximate remaining term, and approximate retail value of the vehicle. By calculating this information, we can determine if refinancing can save you money. You can also do this yourself using our easy to use Loan Calculator.

Every loan circumstance varies and all loans are subject to credit approval. Rates may change without notice. For more information, please contact us at 800.877.2345.