Alachua County Teachers’ Credit Union was the name given to the institution when it was first incorporated in 1954. It was established to help teachers employed by the Alachua County School District with their financial needs. The credit union started expanding its membership to include nearby educational organizations after its first annual meeting in 1955.
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Summary
There are numerous possibilities available when taking out a loan. But it can be difficult to know where to turn with so many lenders available. One of the numerous credit unions receiving a lot of attention lately is Florida Credit Union. We’ll examine everything they have to offer in more detail in this post so you can decide whether or not this lender is ideal for you.
In researching their website and their terms and conditions, we discovered some interesting things. Here are a few key points that stood out.
- The annual percentage rate (APR) on a loan can range from 10.171% to 17.000%.
- There are 36 to 60 month loan terms available.
- Loan amounts range from $3,000 to $5,000.
- Your credit score will determine the exact rate and term.
- Prices and conditions could change at any time without prior notice.
- A $100 application fee is required.
Florida Credit Union: What is It?
As a state-chartered credit union for teachers, the Florida Credit Union was founded in 1954. It currently provides beneficial banking services such checking and savings accounts, money market accounts, personal loans, auto loans, and mortgages.
With 8 customer reviews and 31 complaints resolved in the last three years, the credit union has received an A+ rating from the Better Business Bureau. Because of the numerous negative reviews, consumers on average gave the business a 1-star rating out of 5.
How Does This Company Work?
A fantastic option to obtain financial services without having to pay exorbitant fees is through credit unions. Becoming a member of Florida Credit Union makes you a co-owner of what it claims to be one of the state’s strongest credit unions. This means that its members benefit from lower fees on products and services, lower costs on loans, and higher rates on savings and CDs.
Loan officers at the Florida Credit Union are reachable by phone every day of the week, 24 hours a day. If you choose them, you can contact your local FCU branch to begin the loan application process.
How To Qualify For Florida Credit Union?
Florida Credit Union (FCU) is simple to join and charges no membership fees, however there is an application fee when you apply for a loan. You only need to deposit $5 when you start an online savings account. You can own one share of FCU with this deposit!
You can join FCU online, over the phone at 1-800-284-1144, in person at one of their branches in Belleview, DeLand, Gainesville, Lake City, Ocala, or Starke, or by visiting one of their branches.
Florida Credit Union Reviews
The credit union has been accredited by the Better Business Bureau since 2014 and has an overall rating of A+. 31 complains were resolved in the last three years on average, according to 8 customer reviews. Customers have consequently given the business a 1-star rating on the BBB.
Here are some reviews:
Lucie R 09/18/2022
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FAQs
How Much Does This Company Charge?
Several annual percentage rates (APRs) are available from Florida Credit Union for loans. APRs on loans can range from 10.171% to 17.000%. The loan’s term can be anywhere between 36 and 60 months in length. Typically, there is a $100 application fee.
Payment example: An APR of 10.607%, a monthly payment of $107.73, financing costs of $1,464.02, and a total payment of $6,464 would result from a $5,000 loan for 60 months at a 9.75% interest rate.
Is There A Pre-Payment Penalty?
Florida Credit Union is a financial institution that does not impose prepayment fees, so you can pay off your loan early without incurring any fees, in contrast to some larger credit unions. For borrowers who desire the freedom to repay their debts according to their own terms, this makes it an excellent option.
How Does It Affect Your Credit?
There are a few things you should be aware of regarding how applying for a loan may impact your credit score when considering doing so. To help you determine what interest rates and loan terms you might be eligible for, many lenders will perform a soft credit check at the beginning of the process. Your credit rating won’t be affected by this. To fully understand your credit history and present you with final rates, the lender will need to conduct a hard credit investigation once you decide to proceed with the loan application itself. These invasive credit checks may reduce your credit score. Therefore, when you ask for a loan, be sure you are aware of the potential effects on your credit.
How To Cancel It?
Be sure you are confident in your choice before taking for a personal loan. You won’t be able to undo or cancel the transaction once the funds have been placed into your account. So, it’s critical to be assured from the beginning to prevent any issues later.
Are you having financial difficulties? Here are some advice that can help you get back on track.
Getting your money in order doesn’t require you to be an expert in finance. You can have a wonderful future if you only follow these easy instructions.
- First, make a budget and follow it. You can do this to stay on track and make wiser financial decisions.
- Another great tip is to speak with a financial advisor. They may assist you in comprehending your options and creating a strategy that fits your particular set of circumstances.
- Last but not least, spend less time worrying about debt. Several financial institutions are open to collaborating with clients to design a more manageable payment plan. Contact their customer service department to learn more.
Florida Credit Union: Is It Legit?
The Florida Credit Union has been in operation for a considerable amount of time and provides a range of financial services. Although they have an A+ rating from the Better Business Bureau, their rating from consumers is merely 1 out of 5.
It’s crucial to consider a variety of factors, including interest rates and repayment terms, before taking out a loan. For the greatest price available, thoroughly investigate various lenders and compare their rates. In order to make the best choice and prevent taking out a loan that will be challenging to afford, make sure to study reviews of Florida Credit Union as well.
Do you know flcu.org? Leave your experience and review below!
Thank you for reading!
Florida Credit Union
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Florida Credit Union
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Florida Credit Union Review
The Florida Credit Union has been around for a while and provides many different financial services. Customers have only given them a 1-star rating out of a possible 5, despite the Better Business Bureau giving them an A+.
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