Clearview Federal Credit Union Bad Credit Loan Review

Clearview Federal  Credit Union Terms In a Glimpse

Clearview Federal Credit Union Highlights

Aside from the Business Loan payable for up to 10 years, it also presents a Fixed Rate Mortgage with an APR as low as 3.428%, a Home Equity Loan with a minimum amount of $10,000, and a Student Loan of up to $75,000 with a much lower rate from 4.50%. 

Pre-qualifications Unspecified

Unfortunately, it fails to indicate whether a soft or a hard credit inquiry will be performed.

Allowed Debt-to-Income Ratio Unspecified

It does not specify whether it accepts a DTI ratio higher than the standard of 36%.

Line of Credit

It has a PowerLine LOC of 7.50% with an Open End term, a HELOC with a low introductory rate of 1.99% that also comes with no restrictions on fund usage, and a Business LOC that can either be unsecured or secured by the applicant’s temporary assets.

Credit Health Tools

Apart from the financial calculator available on its website, it also provides a Money Management, Financial Education Center that comes with interactive courses, and a Financial Wellness Plan to help its members review credit and monitor finances.

Hardship Programs

It has made some programs available for its members when things get rough, such as LifePlus, GAP insurance (for Auto Loans), and the Involuntary Unemployment Claim.

Prepayment Penalty Unspecified

The student loan offered comes with no prepayment penalty; however, the confirmation of early payment penalty on all loans — in general, is not stated on its website.

Unsecured Loans

Interested debtors may consider its signature loans that are also unsecured — available in both 36- and 60-month terms.

Clearview Federal Credit Union Fees

Although it offers a No Foreign Transaction Fees, its Business Checking Account requires multiple fees such as $0.25 excess service fee per item, Rolled Coin purchase for $0.05 per roll, and $20.00 whenever a member wishes to acquire a Business Sweep.

How to Qualify

Interested applicants may visit its website for online registration and to further view the eligibility requirements as well. 

The Bottom Line

Despite the flexible programs it presents, the rates mentioned are still subject to credit qualification; hence, loans for aspiring members are not completely guaranteed — most especially to those who possess less ideal credit.

To propose a more competitive lender, LendingPoint presents more friendly services as it offers a personal loan of up to $25,000. Not to mention, aside from the broad service reach it accommodates, LendingPoint also gives its members the freedom to select how flexible they would want to make payments each month.

That being said, interested debtors may reach them through info@lendingpoint.com.