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FedEx Employees Credit Association personal loans review

Explore the four personal loans available to FedEx employees, retirees and family members.

FedEx may not be known for its banking, but the FedEx Employees Credit Association (FECA) provides members with a full array of products, including personal loans. You won’t need perfect credit to be approved, but you’ll have to be a member to apply.

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Max. Loan Amount

7.99% to 7.99%



Max. Loan Amount$20,000
APR7.99% to 7.99%
Interest Rate TypeVariable
Loan termUp to 5 years

Am I eligible?

You’ll have to be a member of FECA in order to borrow a personal loan. To qualify, you must be a FedEx employee, retiree, family member or household member. To join the credit association, you’ll also need the following:

  • Your Social Security number
  • Two forms of ID, including one that’s government-issued, such as a passport or driver’s license
  • $25 to deposit in a savings account

Loan eligibility will vary based on the type of personal loan you’re applying for. Each type of personal loan is subject to its own underwriting standards.

What makes FedEx Employees Credit Association personal loans unique?

FedEx is known for its delivery services, not its banking. But this credit union has a full suite of loans, banking products and investment opportunities for its members — even those with poor credit. And with one of its loans offering the same interest rate no matter who applies, you won’t have to worry about your credit impacting the rate you receive.

What types of loans does FedEx Employees Credit Association offer?

FedEx Employees Credit Association has standard personal loans with fixed rates, short-term loans, lines of credit and its special 12-12-12 loans that allows you to borrow $1,200 for 12 months at 12% APR.

Signature loan

FECA’s signature loan is a traditional unsecured personal loan. The interest rate is fixed, which means your payments will be the same over the life of your loan.

  • APR: Starting at 7.99%
  • Terms: Up to 60 months
  • Amount: Up to $20,000

Line of credit

For financing available when you need it, you can draw on a line of credit. And as you pay it back, you can draw from it again.

  • APR: Starting at 7.99%
  • Terms: Ongoing
  • Amount: Up to $10,000

12-12-12 Specialty Loan

You’ll get exactly what’s on the tin with the 12-12-12 Specialty Loan. It has easy-to-remember terms, is unsecured and has a fixed interest rate.

  • APR: 12%
  • Terms: 12 months
  • Amount: $1,200

Freedom Loan

The Freedom Loan is billed as a safe alternative to payday lenders, but be fully aware of the potential traps of a short-term loan. Additional underwriting requirements are required to get this loan, and you must still meet a minimum credit score.

  • APR: 18%
  • Terms: Up to 6 months
  • Amount: From $250–$750

What are the benefits of FedEx Employees Credit Association personal loans?

  • Wide selection. Having four different types of personal loans to satisfy different needs sets FECA apart from its competitors. It’s uncommon to see more than one personal loan option, even from big national banks.
  • Accessible application status. You can check your application status online at any point during the process.
  • Online service. A mobile app is available, and you can pay bills and check your loan balance anytime on the FECA site.
  • Additional products. Other loan products, checking, savings and investing accounts are all available through FECA.

What to watch out for

  • Membership. You’re required to be a FedEx employee, retiree, family member or household member in order to join. This can be a big hurdle, unless you have family who dons the purple and black, that is.
  • Low maximum. The most you can borrow is $20,000 with the Signature Loan, but that may not be enough. Other lenders provide larger amounts if you have a bigger purchase to make.
  • Short-term loans. Though the Freedom Loan is an alternative to payday loans, it’s still a short-term loan and comes with a high APR and other associated dangers.
  • Limited information. The rates and fees page of the FECA website doesn’t offer any information regarding fees for things as simple as late or returned payments.

Compare other personal loans

Explore your options by APR, minimum credit score and loan amount. Select the Go to site button for more information about a particular lender.

1 – 6 of 6
Name Product Filter Values APR Minimum credit score Loan amount
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
A prime online lending platform with multiple repayment methods.
Upstart personal loans
6.5% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
4.98% to 35.99%
Poor to excellent credit
$1,500 to $100,000
Achieve personal loans
7.99% to 29.99%
$1,000 to $50,000
Consolidate debt and more with these low-interest loans. Cosigners welcome.
Upgrade personal loans
7.96% to 35.97%
$1,000 to $50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
LightStream personal loans
5.99% to 23.99%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.

Compare up to 4 providers

What does the Internet say about FedEx Credit Association personal loans?

As of December 2018, FECA is accredited with the Better Business Bureau (BBB) and has an A+ rating. And despite having no complaints listed against it, it only has two reviews — both rating it one star. Both have problems with the customer service. But with such a limited number of reviews, you’ll have to do research with your local branch to make sure the customer service is up to your expectations.

How do I apply?

Once your application for membership is accepted, you can go on to apply for a personal loan.

  1. Go to the FECA site and hover over Loans.
  2. Click Personal Loans.
  3. Scroll to the bottom of the page and click Apply Online.
  4. Sign into your FECA account.
  5. Fill out the information for the loan you’re applying for.
  6. Review your information.
  7. Submit the application.

Your application is reviewed and compared against the underwriting criteria for the specific loan type, amount and term you’ve requested. If approved, FECA will get in touch with you to complete the next steps.

I got the FedEx Employees Credit Association personal loan. Now what?

You’re ready to take advantage of a great rate and move forward with your purchase, but you also need to consider how you’ll make repayments. Most of its loans have a fixed rate, so you won’t have a sudden hike in the amount due.

Work with FECA agents or use your online account to set up payments. Automatic payments may help you avoid potential late fees if you’re able to set them up. And if you’re able, consider whether you want to pay off the loan early to avoid some of the interest charges.

Bottom line

A personal loan from FECA can be a much-needed solution when you’ve got a big purchase to make or need to pay for a large expense. You’ll have to be a member to apply, but even still, you aren’t guaranteed to be approved. Take your time and compare your personal loan options to find the one that best fits your financial situation.

Frequently asked questions

Do I have to keep a savings balance to have a loan?

Yes. The minimum $25 savings balance represents your share of the credit association and may not be withdrawn.

What are rates based on?

The loan specifics and your credit score affect the rate you’ll be offered.

Are all other loans subject to the membership requirement?

Yes. You can’t take out any of the FECA loans unless you’re a member.

I'm a FedEx employee. If I stop working for FedEx, what happens to my loan?

Nothing will happen to your loan so long as you keep your account in good standing and $25 in your savings account.

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