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FedEx Employee Credit Association loans

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Membership to this shipping company credit union could deliver a loan at a great rate.

Loans are almost unavoidable in adult life, but can be the result of needing something exciting — like to finance a new car or pay for your next family vacation. FedEx is likely not the first name that comes to mind when you think about loans, but you may find what you need with the credit union borne of the shipping company.

The FedEx Employees Credit Association (FECA) has a variety of products that ranges from checking and savings accounts all the way to investing products. Amid those offerings is an exceptionally thorough selection of loans, including auto, home equity, personal loans and more.

These loans are only extended to FedEx employees, retirees, family members and household members, however.

What types of loans does FedEx Employees Credit Association offer?

A host of loans for different needs are available through FECA.

Personal loans

A personal loan can be used on any legitimate purchase through a line of credit, signature loan, 12-12-12 specialty loan and freedom loan.

  • APRs. Start at 7.99% for a signature loan and line of credit.
  • Terms. Up to 5 year(s) for a signature loan.

FedEx Employee Credit Association personal loans review

Auto loans

Auto loans are secured loans that are used to purchase non-leisure vehicles such as cars, trucks, vans and SUVs.

  • APRs. Start at 1.49% for a loan term up to 36 months.
  • Terms. Up to 7 year(s), depending on the loan amount.

FedEx Employee Credit Association auto loans review

Leisure vehicle loans

A leisure vehicle loan is also a secured loan, but it is instead intended for RVs, planes, boats and motorcycles.

  • APRs. Start at 7.29% for a loan term up to 60 months.
  • Terms. From two to five years.

Home equity lines of credit

A home equity line of credit is a type of financing that’s secured by the equity built up in your home. With a line of credit, you can draw on the amount as you need it once you’ve paid off part or all of what you originally borrowed.

  • APRs. From Prime + 0% to Prime + 1%.
  • Terms. Up to 15 years.

Home equity loans

Home equity loans are similar to home equity lines of credit in that they’re secured by the equity you’ve built up in your home. The difference is you get a one-time lump sum rather than a line of credit.

  • APRs. From 3.25% to 5.25%.
  • Terms. Up to 15 years.

Land loans

A land loan can be used to purchase land for any legitimate use.

  • APRs. 7.25%.
  • Terms. 10 years.

Lot loans

Lot loans are shorter term financing for purchasing a section of land to build a house. The underwriting criteria is different from that of a land loan.

  • APRs. From Prime to Prime + 3%, depending on the loan term.
  • Terms. 2 or 5 years.

Compare a selection of FedEx Employee Credit Association loans

Rates last updated October 15th, 2018
Name Product Min. Credit Score Max. Loan Amount APR Product Description
FedEx Employees Credit Association Auto Loan
$30,000
1.49% (fixed)
Financing with APRs as low as 1.49% for members of this credit union.
FedEx Employees Credit Association Signature Loan
$20,000
7.99% (fixed)
Explore the four different personal loans available to FedEx employees, retirees and family members.

Compare up to 4 providers

Why should I consider taking out a loan with FedEx Employees Credit Association?

  • Several options available. Over half a dozen types of loans are available to fit your specialized needs. Personal loans even have four subtypes to choose from.
  • Check application status online. Your application status is available anytime online through the FECA website. A quick registration is required, but you can sign in directly once you’ve registered.
  • Online services available. Bill pay, your loan status and your remaining balance are all easily accessible online.
  • Full-service suite of other products. Checking, savings and investing products are also available to members.

Where does FedEx fall short?

  • Membership requirement. As with all credit unions, you must meet certain criteria to join. In the case of FECA, you’re required to be a FedEx employee, retiree, family member or qualified household member to join.
  • Not fully transparent about rates and fees. Potential fees aren’t readily available for borrowers before applying. Maximum APR limits are also not provided on the site.

How much will it cost me to borrow with FedEx Employees Credit Association?

APRs are subject to change, and approval doesn’t necessarily mean you’ll get the lowest rate. Underwriting criteria, how much you’re borrowing, your loan term and what you’re borrowing the funds for all affect how much you’ll end up paying for the total cost of the loan.

FedEx isn’t upfront about its additional costs, so look out for fees outlined in your loan contract.

Are FedEx Employees Credit Association loans safe?

Yes, loans from FECA are safe. It’s a reputable lender that’s been around since the 1970s. Any information you enter online is protected, and you can even request that certain details not be disclosed to third parties.

What does the Internet say about FedEx Employees Credit Association?

FECA has been accredited by the Better Business Bureau (BBB) since late 2011. It’s rated A+ by the organization, but currently only has one review. The review is negative and from June 2017, but it’s since been resolved. Due to the one negative review, the credit association has a BBB composite score of 3.68 out of 5.

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Rates last updated October 15th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
$100,000
4.99%–36% (fixed)
Upgrade Personal Loans*
Affordable loans with two simple repayment terms and no prepayment penalties.
620
$50,000
6.99%-35.97% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
580
$100,000
4.99%–35.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
660
$40,000
6.95%–35.89% (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
580
$100,000
3.09%–35.99% (fixed)
Avant
Conveniently check your loan options without affecting your credit score.
580
$35,000
9.95%–35.99% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
640
$35,000
4.99%–29.99% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
680
$100,000
6.990% – 14.865% (fixed)
Payoff Personal Loans
Pay down your debt with a fixed APR and predictable monthly payments.
640
$35,000
5.99% to 24.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Varies
$30,000
16.05%–35.99%* (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
550
$10,000
34%–155% (Varies by state) (fixed)
CashUSA Installment Loans
A connection service for quick cash loans up to $10,000.
Bad credit OK
$10,000
5.99%–35.99% (fixed)

Compare up to 4 providers

Rates last updated October 15th, 2018

Reveal your potential loan offers and rates

Answer two quick questions to filter the loan offers and get the best one for you.

Select your credit score range

I don't know my credit score

Finally, select where you live.

To get your credit score:

Experian logo

Experian is a leading provider of personal and business credit reporting. Find out your FICO score now for less than the cost of a cup of coffee.

Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Minimum Credit Score Term of Loan Requirements
car.Loan.com Car Loans
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Auto Credit Express Car Loans
Get connected with an auto lender near you, even if you have bad credit.
300
Typically 3 to 6 years
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
LendingClub Auto Refinancing
Lower your monthly car payments and save on interest through a fast and easy online application process.
Fair or poor credit
Minimum of 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
MotoRefi Car Loan Refinancing
A car loan connection service for borrowers looking to refinance.
525
1–6 years
Must have an income of at least $2,000/month and have a vehicle with less than 100,000 miles.
myAutoloan.com Car Loans
Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.
550
24 to 84 months
Must have a Social Security number; make $24,000+/year; have no open bankruptcies.
LendingTree Auto Loans
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.
670
Typically 1 to 7 years
Must be a US citizen and 18+ years old. Must have good to excellent credit.
Capital One Auto Financing
You could qualify for a car loan of up to 40000, but not all dealers accept this bank's financing.
Good to excellent credit
36 to 72 months
Valid street address; existing Capital One accounts in good standing. Car must be a 2006 model or newer with less than 120,000 miles.

Compare up to 4 providers

How to apply for a loan with FedEx Employees Credit Association

To apply for a loan with FECA, you’ll first need to become a member, open to only FedEx employees, retirees, family members and household members. You can apply for membership online or download an application and submit it by mail or at a local branch. You’ll need a few pieces of information with your application:

  • Your Social Security number.
  • Two forms of ID — one must be government-issued, such as a driver’s license or passport.
  • $25 to open a savings account.

Once your application for membership is accepted, you can go on to apply for a loan. To do so, go to the FECA website, hover over Loans and click the type of loan you want. Then scroll to the bottom of the page and click Apply Online.

You’ll be directed to sign in to your FECA account, and from there you can fill out your loan request information, review your application and submit it.

Bottom line

FECA offers a range of loans for different needs. Membership requirements can be a big obstacle though, as only FedEx employees, retirees, family members and household members are permitted to apply. Regardless of your eligibility, compare your options with our guide to personal loans to get an idea of what loans are available and which could best fit your financial circumstances.

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US Personal Loans Offers

Important Information*
Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

Prosper Personal Loans

Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

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