TDECU Your Credit Union Bad Credit Loan Review

TDECU Your Credit Union Financial Terms In a Glimpse

TDECU Your Credit Union Highlights

Borrowers can select from personal loans, auto and recreational vehicle loans, home and mortgage, business loans, to student loans in TDECU. There are also lines of credit available.

Interestingly, this credit union offers discounts and benefits for its members. It has low rates that borrowers might find appealing, regardless of their credit status.

Pre-qualify with Soft Credit Pull

Before approval, applicants need to undergo the pre-qualification process with a soft credit pull. The credit union has also started to check the credit score from time to time for a faster transaction.

No Mentions of High Debt-to-Income Ratio Acceptance

There is nothing mentioned to answer people seeking information regarding its appeal to those with high DTI ratios. It is best to contact the union directly.

Line of Credit

The line of credit for personal loans is called Cash $tash™ with 7.74% APR. There is also a line of credit for SBA loans.

Credit Health Tools

There are loan calculators available on the website and a tool to keep the credit’s health on track.

Hardship Programs

Fortunately, there are various hardship programs to enjoy: first, a program to address the impact of COVID-19; second, an assistance loan offered with rates as low as 6.49% APR; and third, the Skip-To-Pay program is also available.

No Prepayment Penalty

There are no stipulated penalties for paying earlier than the said due date.

Unsecured Loans

Borrowers can apply for unsecured loans with an APR of 5.74%.

TDECU Your Credit Union Fees

There is a convenience fee of $10.00 for transactions made via phone. Moreover, there is a list of miscellaneous expenses provided on the website. Visit it for more elaborated information.

How to Qualify

Anyone who is 18 years old and above living, studying, worshipping, and working in Texas is eligible.

The Bottom Line

TDECU may be a good credit union based on its rates and benefits offered. It may be ideal for those with bad credit despite its failure to mention the minimum credit score.

However, like most banks and credit unions, those who have good credit are apparently more welcome.

Consider LendingPoint and Mr. Cooper for guaranteed acceptance. Specifically, its credit score requirements range between 580 to 600.

Moreover, both lenders accept those with a high DTI ratio, which TDECU fails to mention. Unlike TDECU, these two options are more detailed and accepting with a wider loan selection and broader service reach.