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finder.com’s rating: 4.25 / 5.0
★★★★★
$20,000
Max. Loan Amount
8.99% to 9.49%
APR
Product Name | White Rose Credit Union Signature Loans |
---|---|
Min. Loan Amount | $1,500 |
Max. Loan Amount | $20,000 |
APR | 8.99% to 9.49% |
Interest Rate Type | Fixed |
Loan Term | 1 to 7 years |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
White Rose Credit Union personal loans are best for residents of York and Adams counties in Pennsylvania — you won’t qualify otherwise. It doesn’t have any hard-and-fast credit and income requirements, meaning you might be able to qualify even if you don’t have the strongest finances. And it offers the option to skip one payment a year for a $25 fee if you’re struggling.
But its loans max out at $20,000 — not ideal if you need to borrow a high amount. And it doesn’t have the most competitive starting rates compared to other lenders out there — especially if you choose a longer loan term. You also might have to apply with a cosigner if you can’t meet White Rose’s credit and income standards on your own — which it doesn’t disclose.
Don’t live in Pennsylvania? Compare your other options below.
Like with many credit union personal loans, you need to be a member to be eligible for a White Rose signature loan. You must live, work, go to school, own a business or worship in York or Adams County, Pennsylvania to become a member.
While there are no hard-and-fast credit or income requirements, you may be asked to apply with a cosigner if you don’t meet White Rose’s standards on your own.
Aside from your credit score, your loan term and amount determine your APR. Here’s how it breaks down
Loan term | Loan amount | Starting APR with autopay |
---|---|---|
1 to 5 years | Any amount | 8.99% |
5 to 6 years | $10,000+ | 10.49% |
6 to 7 years | $15,000+ | 10.49% |
Aside from signature loans, White Rose Credit Union also offers several types of secured loans, which require collateral. These include:
BBB accredited | No |
---|---|
BBB rating | A+ |
Customer reviews verified as of | 26 December 2019 |
To get an idea of others’ experience, you’ll have to visit online forums and review sites like Yelp. In fact, it makes Yelp’s list of the 10 Best Banks and Credit Unions in York, Pennsylvania — ranking sixth. Customers were particularly happy with the quality of customer service, with one saying it had helped their family become more financially healthy. Another said it was quick to resolve any issues that came up.
You can also apply in person or over the phone by calling 888-755-9773
You will need to provide some basic information, including:
If you have strong credit, you could hear back as soon as the same business day. Poor-credit borrowers will need to wait until its lending panel can review your application, but you may get a decision as soon as the next morning.
If you aren’t already a member, you need to visit a branch in person to join before you can receive your funds. Joining involves opening up a savings account with $5 and paying a $1 membership fee.
Double-check your loan documents to see how frequently your payments are due — it’s not always monthly. If you signed up for autopay during the application process for the 0.25% rate discount, White Rose Credit Union will deduct repayments from your checking account each time they’re due. If you’re struggling to make a repayment, you can apply to skip one month of payments per year with no penalty for a $25 application fee.
Think there’s something wrong with your account? Reach out to customer service over the phone or visit a local branch.
Want to explore other options? Check out our guide to personal loans to see how White Rose Credit Union stacks up to the competition.
Image source: Shutterstock and whiterosecu.com
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