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About MFCU > Goodbye Summer, Hello Whatever Loan!
Goodbye Summer, Hello Whatever Loan!
Authored By: Katie Stoeckle on 10/4/2017

While we’re going to miss the warm days and longer nights of summer, fall is officially here!  That means it’s time to find your happy with the Whatever Loan!

The $1,000 Whatever Loan with no credit score limit* is starting earlier this year – October 30, 2017!.  Are you ready?

We want you to enjoy the benefits of the Whatever Loan as soon as possible.  Whether you’ve received the Whatever Loan in the past or you’re looking to apply for the first time, here’s a list of what you’ll need to have in place:

· Direct Deposit of your net pay into an MFCU checking account

· Most recent pay stub

Invite your friends and family to find their happy with us.  The Whatever Loan might be just what they need too!

If the Whatever Loan doesn’t meet your needs, we have other lending options available.

*A $25 processing fee will be assessed and may be funded with the loan, bringing total loan amount to $1,025.  In order to receive the Whatever Loan you must not have caused MFCU a loss, must be at your place of employment for at least 6 months, have direct deposit in your checking account at MFCU before funds will be disbursed, and be eligible for membership. A Whatever Loan of $1,025, covered with life and disability insurance, will have 12 monthly payments of $96.27 and an interest rate of 22.777% APR.  Some restrictions may apply.

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Comments
Eligibility
10/29/2017 10:22 PM an anonymous user.
Hi, I just paid off my loan from last year and am going to come in in the morning to see about getting this years loan. Only problem is I just left my other job two weeks ago, that one I had been at over a year, my new job Ive only been here since Aug. Will I not be able to get the loan? I sort of need it this year.
Reply From Members First Credit Union:

Thanks for your inquiry.  One of the requirements of the Whatever Loan is that you must be at your place of employment for 6 months.  We also have a signature loan available, which does not require collateral and offers a more competitive rate.  Please contact us at 855.835.6328 x. 0 or stop in to your favorite branch to learn more!  We look forward to helping you find your happy!

Supervisor
10/28/2017 8:54 AM an anonymous user.
When is the last day to apply for the whatever loan?
Reply From Members First Credit Union:

Thanks for your inquiry about the $1,000 Whatever Loan.  We don't have an exact end date for the Whatever Loan, as it is only available for a limited time.  In the past few years, the Whatever Loan has concluded around December 31.  If you have other questions about the Whatever Loan or our other lending options, please contact our Call Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

1500 loan
10/27/2017 3:45 AM an anonymous user.
I had the $1000 whatever loan last year and never missed a payment and was never late on a paymemt. I have been with my employer for about 2 years and had direct deposit the whole time, summers off since it's a school posotion. I did not receive a preapproved letter. Is it possible that I will still be eligible for the $1500 loan or does this mean I can only get $1000?
Reply From Members First Credit Union:

Thanks for your inquiry.  If you made all of your payments on time for the $1,000 Whatever Loan last year, you may still be eligible for a $1,500 Whatever Loan.  If that is the case, please stop in to see a loan officer at your favorite branch on or after the October 30 start date.  If you have any more questions until then, please contact our Call Center at 855.835.6328 x. 0 for personalized service.  We look forward to helping you find your happy!

Whatever loan
10/25/2017 2:11 AM an anonymous user.
What does it mean when looking at eligibility for the whatever loan and one of the requirements is must not have caused mfcu a loss?
Reply From Members First Credit Union:

Thanks for your inquiry.  A loss indicates something that caused the credit union to loose money, for example a loan that was charged off instead of paid back on time.  The best way to learn about your qualification options is to come in to see a loan officer on or after October 30, when the Whatever Loan starts.  If you would like more information before then, please contact our Call Center at 855.835.6328 x.0 for personalized service.  We look forward to helping you find your happy!

10/23/2017 10:19 AM Anonymous U. from Harrison, MI
If you have a joint account and have perviously had the whatever loan and only one makes an income but don't have a license can you still get the whatever loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  Here are the requirements for the Whatever Loan: you must not have caused MFCU a loss, must be at your place of employment for at least 6 months, have direct deposit in your checking account at MFCU before funds will be disbursed, and be eligible for membership.  

If you would both like to qualify, each member needs their own membership account with a checking account and Direct Deposit into their own checking account.  Also, if you do not have an account, here is what you would need for membership: http://www.mfcu.net/Membership

If you have any other questions or concerns, please contact us at 855.835.6328 x. 0.  We look forward to helping you find you happy!

10/21/2017 10:22 AM an anonymous user.
What if you haven't received the letter or it got threw away? How can you find out if you are eligible for the 1500 loan
Reply From Members First Credit Union:

Thanks for your inquiry.  If you received a letter but misplaced it, your account will still have a notification on it for our front line staff and loan officers to help you out.  If you haven't received a letter but think you may be preapproved, you can contact our Call Center at 855.835.6328 x. 0.  If you received a $1,500 Whatever Loan last year, and have made all of you payments on time and did not receive the Whatever Loan Preapproval Letter, you may still be eligible for a $1,500 Whatever Loan.  If that is the case, please stop in to see a loan officer at your favorite branch after the October 30 start date.  We look forward to helping you find your happy!

Preapproval letter
10/20/2017 8:09 AM an anonymous user.
I have recently moved what if I missed getting a per approval letter can they look up to see if I am Preapproved?
Reply From Members First Credit Union:

Thanks for your inquiry.  If you qualify for the preapproval, there will be a message on your account for our front line staff to see.  We recommend that you update us with your new address, that way you don't miss out on important opportunities like this!  We look forward to helping you find your happy!

10/18/2017 4:58 PM Krista W. from Mount Pleasant, MI
How long do you have to be a member at MFCU to get the whatever loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  New members can definitely apply for the Whatever Loan!  It's important to note that one of the requirements for the Whatever Loan is direct deposit into an MFCU checking account. If approved for the loan, you may set up direct deposit during the application process. As soon as the first direct deposit appears on the account, we can move forward with processing the Whatever Loan.  If the Whatever Loan doesn't meet your needs, we have plenty of other lending options available.  Please stop in to your favorite branch or contact us at 855.835.6328 x. 0 for personalized service and answers.  We look forward to helping you find your happy!

10/18/2017 11:26 AM an anonymous user.
Does ssi benefits which are direct deposit into your checking account count as income for the $1000.00 whatever loan ?
Reply From Members First Credit Union:

Thanks for your inquiry.  Social Security does count as income, but it must be direct deposited to qualify for the Whatever Loan.  The other requirements are that you must not have caused MFCU a loss and be eligible for membership.  If you have any other questions before the Whatever Loan stats, please contact our Call Center at 855.835.6328.  We look forward to helping you find your happy!

10/16/2017 3:11 PM an anonymous user.
If I accepted a personal loan today would I still be eligible for the whatever loan in a couple weeks?
Reply From Members First Credit Union:

Thanks for your inquiry.  Members can receive the $1,000 Whatever Loan if they have other loans.  Here are the stipulations for members to receive the $1,000 Whatever Loan:

  • Must have direct deposit of net pay into an MFCU checking account
  • Must not have caused MFCU a loss
  • Must be at your place of employment for at least 6 months
  • Must be eligible for membership

To get ready before the $1,000 Whatever Loan is available on October 30, make sure to set up direct deposit of your net pay into an MFCU checking account and be sure to bring in your most recent pay stub with you.  If you have other questions or concerns about the $1,000 Whatever Loan or one of our other lending options, please contact our Call Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

retired
10/16/2017 8:21 AM paula l. from farwell, MI
If i have had a forever loan there before and have a letter to get 1500.00 this time is my social security check quilifie for the loan it is direct deposit please let me know
Reply From Members First Credit Union:

Thanks for your inquiry.  Depending on your situation, you should still be able to get the Whatever Loan with that direct deposit.  If you have any other questions until then, please contact our Call Center at 855.835.6328 x. 0.  We look forward to helping you find your happy!

Question
10/15/2017 6:50 PM an anonymous user.
I took out a whatever loan last year and it is now paid off. At least once my payment was 10-11 days late before the payment was made. Will that make me ineligible for this years program?
Reply From Members First Credit Union:

Thanks for your inquiry.  Usually if you have made all of your payments and have a positive Whatever Loan history, you should still be eligible.  However, since this is a pretty specific situation, we recommend you contact our Call Center at 855-835-6328 x.0.  They can give you an answer based on your needs and situation.  We look forward to helping you find your happy!

10/14/2017 9:36 PM an anonymous user.
I just received my letter in the mail yesterday stating I was pre qualified. It said the whatever loan will be available starting October 23rd!!?? Is that for all branches!? It is great it is being offered earlier this year!
Reply From Members First Credit Union:

Thanks for the inquiry.  The Whatever Loan is starting earlier this year!  For preapproved members, you can get the Whatever Loan, starting October 23.  October 30 is the start date for the rest of membership.  The Whatever Loan is available at all 11 branches.  We look forward to helping you find your happy!

10/13/2017 7:06 PM Tiffany L. from Bay city, MI
We just opened an account and my husband has been has his one job for 10yrs but doesn't get direct deposit. He starts his new job on Monday and will have direct deposit with his new job, would we qualify for the whatever loan since he's had a job for so long but switching? Would really love this for Christmas coming up.
Reply From Members First Credit Union:

Thanks for your inquiry.  One of the requirements of the Whatever Loan is that you must be at your place of employment for 6 months.  However, if you are the primary member on the account and have been at your place of employment for the 6 month minimum and meet the other requirements (you must not have caused MFCU a loss, have direct deposit in your checking account at MFCU before funds will be disbursed, and be eligible for membership), you may still qualify.  We also have a signature loan available, which does not require collateral and offers a more competitive rate.  Please contact us at 855.835.6328 x. 0 or stop in to your favorite branch to learn more!  We look forward to helping you find your happy!

10/11/2017 11:49 AM an anonymous user.
Both my husband and I are members. He has direct deposit but I don't. I have had the loan in the past. Can we both still get the loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  In the case of primary member has no direct deposit but the joint member does, the joint member must be on the whatever loan to qualify.

1. Primary member must be on all loans under this membership.

2. Whatever loan states YOU must have direct deposit, she does not but the joint does, so the joint member cannot do a loan individually under this membership, it would need to be a joint loan.

We recommend you and your husband stop in to see a loan office on or after October 30 to figure out the best solution for your needs.  If you have any more questions until then, please contact our Call Center at 855.835.6328.  We look forward to helping you find your happy!

Whatever Loan
10/11/2017 10:54 AM Bethany D. from Mount Pleasant, MI
Hello,

I have had a whatever loan and currently are just down to my last payments(never missed a payment) but I have recently switched jobs. I have only been here for 2 months, but never missed a day of work with switching jobs. I went straight from one to the other after accepting the offer. Will this affect me from getting another loan this year since I have not worked here for 6 months but have had straight employment?

Please advise!
Reply From Members First Credit Union:

Thanks for your inquiry.  Without looking at your account specifics, it's hard to say what will work best for you.  Please come in to a loan officer on or after the October 30 start date to speak to a loan officer.  This way, they can have a one-on-one conversation with you to identify your needs and qualifications.  If you need anything else before then, please contact us at 855.835.6328.

Whatever Loan
10/9/2017 2:38 PM an anonymous user.
Can you apply for this loan online?
Reply From Members First Credit Union:

Thanks for your inquiry.  At this time, you will still need to come in to your nearest branch to meet with a loan officer and have funds dispersed.  If you have other questions or concerns about the $1,000 Whatever Loan or one of our other lending options, please contact our Call Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

10/6/2017 3:44 PM Felicia D. from Saginaw, MI
How long do you have to be at employer to be eligible?
Reply From Members First Credit Union:

Thanks for your inquiry.  In order to receive the Whatever Loan, you must be at your place of employment for at least 6 months.  The other requirements are that you must not have caused MFCU a loss,  have direct deposit in your checking account at MFCU before funds will be disbursed, and be eligible for membership.  If you have any other questions, please contact us at 855.835.6328 x.0.  We look forward to helping you find your happy!

Whatever Loan
10/6/2017 3:12 PM an anonymous user.
Can you apply for this online if you have previously had it?
Reply From Members First Credit Union:

Thanks for your inquiry.  At this time, you will still need to come in to your nearest branch to meet with a loan officer and have funds dispersed.  If you have other questions or concerns about the $1,000 Whatever Loan or one of our other lending options, please contact our Call Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

10/6/2017 1:44 PM an anonymous user.
Are you offering $1500.00 also on the whateverl loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  The $1,500 Whatever Loan is available to certain members who have had a Whatever Loan in the past and demonstrated a positive payment history.  If you meet these requirements, you should receive a detailed mailing about this shortly.  We also invite you to speak with a loan officer or our Call Center after the October 30 start date to explore all of your Whatever Loan questions and lending options.  We look forward to helping you find your happy!

10/6/2017 11:27 AM an anonymous user.
Do you run a credit check if I apply for the loan? If not, do you report on time payments to all three credit bureaus?
Reply From Members First Credit Union:

Thanks for your inquiry.  While there is no credit score limit to receive the $1,000 Whatever Loan, we are required to run a credit check.  Often, we find that you can benefit from other products or services we have to offer, but if you just want the Whatever Loan, we are happy to help!  When and if you do receive the Whatever Loan, we report positive payments the same way we would with any other lending product.  

We look forward to helping you find your happy!

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Members First Credit Union | P.O. Box 2165 | Midland, MI 48641
Phone 855-835-MFCU (6328) | mail@mfcu.net

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