Members First Credit Union
Go to main content Menu
About MFCU > Remember, remember the 5th of November!
Remember, remember the 5th of November!
Authored By: Katie Stoeckle on 10/12/2018

MFCU Happenings! 

The Whatever Loan is coming!

The $1,000 Whatever Loan with no credit score limit* begins on November 5!  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, 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 annual percentage rate of 22.77% APR.  Additional restrictions may apply.



« Return to "MFCU Blog"
Share: Share on Facebook: Remember, remember the 5th of November! Share on Twitter: Remember, remember the 5th of November!
Comments
Whatever Loan
11/4/2018 7:39 PM an anonymous user.
Do I still qualify for the $1000 whatever loan if I currently have a $1000 unsecured loan taken out already?
Reply From Members First Credit Union:

Thanks for your inquiry.  As those are two different products, you may still qualify for the $1,000 Whatever Loan.  For account specific questions, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

11/2/2018 9:19 PM an anonymous user.
Hello, is a credit check ran for the Whatever Loan?
Reply From Members First Credit Union:

Thanks for the inquiry.  We are required to run your credit, but there is no minimum credit score required to receive the $1,000 Whatever Loan.  Before you apply, make sure you have 100% of your net paycheck set up as direct deposit into and MFCU checking account.  For more account specific questions, please contact us at 855.835.6328 x. 0.   We look forward to helping you find your happy!

11/1/2018 5:57 PM Terry M. from harrison, MI
In the last few years I have received$1500 whatever loan. I did not get a pre-approval this year. Can I still get $1500?
Reply From Members First Credit Union:

Thanks for your inquiry.  The $1,500 is available for preapproved members with a positive Whatever Loan history.  If you're interested in getting something other than the $1,000 Whatever Loan, come in to meet with a loan officer to explore all of your options.  If you have account specific questions before the Whatever Loan starts on November 5, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy.

11/1/2018 5:54 PM Terry M. from harrison, MI
In the past I have received$1500 whatever loan. I did not get a pre approval letter this year. Can I still get $1500.
Reply From Members First Credit Union:

Thanks for your inquiry.  The $1,500 is available for preapproved members with a positive Whatever Loan history.  If you're interested in getting something other than the $1,000 Whatever Loan, come in to meet with a loan officer to explore all of your options.  If you have account specific questions before the Whatever Loan starts on November 5, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy.

Esign document
11/1/2018 5:37 PM Deborah P. from Harrison, MI
I have tried twice now to Esign for my whatever loan and it says I got the questions wrong. Can I go to the Harrison branch and sign them?
Reply From Members First Credit Union:

Thanks for your inquiry.  Before you head in to the Harrison branch, please contact our Contact Center at 855.835.6328 x. 0.  They may be able to help you with something account specific first, or point you in the right direction.  We look forward to healping you find your happy!

10/31/2018 12:28 AM an anonymous user.
Can you apply online if you weren’t pre-approved?
Reply From Members First Credit Union:

Thanks for your inquiry.  This year, you will be able to apply online for the $1,000 Whatever Loan.  However, the link will not be available until Monday, November 5.  To save time, make sure you have all of the requirements in place before you apply for a Whatever Loan, including direct deposit of your net pay into an MFCU checking account.  To learn more about your qualifications for the Whatever Loan or to ask account specific questions, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

10/30/2018 8:37 AM an anonymous user.
what is the payment for the $1,500 loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  The $1,500 is only for members who have been preapproved after having a positive history with the Whatever Loan.  A Whatever Loan of $1,525, covered with life and disability insurance, will have 12 monthly payments of $143.39 and an annual percentage rate of 21.18%. Insurance not required. Your actualy payment may vary depnending on date of account opening.  Additional restrictions may apply.    If you have any additional questions, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy.

10/28/2018 10:22 PM Krystle B. from Grand Rapids, MI
I missed a payment on my whatever loan last year, but it was then fully paid. Does this disqualify me for getting the loan this year?
Reply From Members First Credit Union:

Thanks for your inquiry. You may still qualify for the $1,000 Whatever Loan, provided you meet the other requirements.  To learn more about your specific account and qualifications, please contact our Contact Center at 855.835.6328 x. 0. We look forward to helping you find your happy!

10/25/2018 5:30 PM Tom P. from Midland, MI
I had a whatever loan in 2016 and missed a payment, therefore was unable to receive a loan in 2017. Will I qualify this year and will it be for 1000 or 1500.
Reply From Members First Credit Union:

Thanks for your inquiry. The $1,500 Whatever Loan is only for members who are preapproved and have a positive history with the Whatever Loan.  If you were preapproved, you would have received a letter in the mail.  You may still qualify for the $1,000 Whatever Loan, provided you meet the other requirements.  To learn more about your specific account and qualifications, please contact our Contact Center at 855.835.6328 x. 0. We look forward to helping you find your happy!

10/25/2018 2:46 PM an anonymous user.
I have had a whatever loan the last 3 years, I didn't see my pre approval in the mail yet, have you sent them?
Reply From Members First Credit Union:

Thanks for your inquiry.  If you were preapproved, you would have received a letter in the mail by now - they were sent out about two weeks ago.  You may still qualify for the $1,000 Whatever Loan, provided you meet the other requirements.  To learn more about your specific account and qualifications, please contact our Contact Center at 855.835.6328 x. 0. We look forward to helping you find your happy!

Whatever loan
10/24/2018 4:11 PM Karen G. from Clare, MI
You can pay off your fast cash line of credit with your whatever loan? Am I understanding this correct?
Reply From Members First Credit Union:

Yes, that is one option, since members are only allowed to have either the Fast Cash or Whatever Loan, not both.  For further answers specific to your account, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

How long for the online process?
10/24/2018 3:27 PM Matt G. from Midland , MI
How long does it take the online whatever loan to be available in your account? I applied for the loan on 10-22-18, received a call from a loan office and signed my forms online. The money posted to my account that day but with a “Memo post credit” withdrawing the full amount of the loan. Two days later it’s still showing as pending. When will the money be available?
Reply From Members First Credit Union:

Thanks for your inquiry.  We checked your account, and the funds should now be available.  If you have any other questions or concerns, please contact us at 855.835.6328 x. 0.  We are so proud to help you find your happy!

Direct Deposit
10/22/2018 3:53 PM an anonymous user.
Do I need to direct deposit my entire paycheck into my account in order to get the whatever loan? Or can I just do a portion?
Reply From Members First Credit Union:

Thanks for your inquiry.  In order to be eligible for the Whatever Loan, you must have 100% of your net pay direct deposited into your MFCU checking account.  If you would like more information about eligiblity requirements, please contact us at 855.835.6328 x. 0.  We look forward to helping you find your happy!

10/22/2018 12:17 PM an anonymous user.
If you are preapproved is it faster to go into branch or apply online?
Reply From Members First Credit Union:

Thanks for your inquiry.  The process for the online application includes filling out the application, receiving a follow up call from a lender, receiving an email with documents to esign, and submitting the documents.  You will still have a conversation with a loan officer in both situations, and they can take the same amount of time.  However, if you do not live near a branch or cannot get in to to work or other scheduling conflicts, this is a great opportunity for you!  If you have any other questions, please contact us at 855.835.6328 x.0.  We look forward to helping you find your happy.

10/22/2018 7:58 AM an anonymous user.
How long is the online process for the whatever loan versus in person?
Reply From Members First Credit Union:

Thanks for your inquiry.  The process for the online application includes filling out the application, receiving a follow up call from a lender, receiving an email with documents to esign, and submitting the documents.  You will still have a conversation with a loan officer in both situations, and they can take the same amount of time.  However, if you do not live near a branch or cannot get in to to work or other scheduling conflicts, this is a great opportunity for you!  If you have any other questions, please contact us at 855.835.6328 x.0.  We look forward to helping you find your happy.

10/19/2018 9:04 AM an anonymous user.
If we pay off the fast cash loan by October 26th and have had positive history with the whatever loan will we still be preapproved for the 1,500? If so, when could we apply online?
Reply From Members First Credit Union:

Thanks for your inquiry.  If you have been preapproved for the Whatever Loan, it would mean that you had a positive history in the past, as well as some additional restrictions.  If you are preapproved, you should be receiving a letter in the mail shortly.  To discuss your account in more detail with personalized service, please contact our Contact Center at 855.835.6328 x.0.  We look forward to helping you find your happy!

10/18/2018 8:02 PM an anonymous user.
My husband and i both have had the whatever loans for several years and paid them off on time.. He recieved his letter the other day but i have not. Why would I not get the letter?
Reply From Members First Credit Union:

Thanks for your inquiry.  The preapproval process is based on a variety of factors.  Please contact our Contact Center at 855.835.6328 x. 0 for personalized service and questions abotu your account.

10/18/2018 11:29 AM an anonymous user.
If I have got the whatever loan last year, is the option for a $1,500 whatever loan still exist for someone who got the 1000 and made all payments on time
Reply From Members First Credit Union:

Thanks for your inquiry.  The $1,500 options is available for members who are preapproved and had positive history with the Whatever Loan in the past, and still meet the other requirements.  If you are preapproved, you should be receiving a letter in the mail this week, or you can find out by calling our Contact Center at 855.835.6328 x. 0.  We look forward to helping you find your happy!

10/18/2018 12:56 AM Latoya J. from Chicago , IL
Do you have any locations in Chicago? What’s the credit score requirements? Is there a deadline to apply
Reply From Members First Credit Union:

Thanks for your inquiry.  We have a charter for the state of Michigan.  We proudly serve:

  • Persons who live, work, attend school or worship within any county in the State of Michigan.

  • Persons in the immediate family of existing members.

If you would like to learn more about eligibility, please contact our Contact Center at 855.835.6328 x. 0.  The Whatever Loan is for a limited time, in the past it has ended on December 31.  We look forward to helping you find your happy!

wandering
10/17/2018 3:36 PM an anonymous user.
I would like to know if my husband can get a whatever loan too, even thought I got one and he's on the checking account.
Reply From Members First Credit Union:

Thanks for your inquiry.  If your husband has his own account, he would be able to apply for the $1,000 Whatever Loan.  There is a limit of one per account number.  If you need any more information specific to your account, please contact our Contact Center at 855.835.6328 x0.  We look forward to helping you find your happy!

10/16/2018 11:42 PM Andre S. from Detroit, MI
Can the “Whatever loan” be paid in full before the 12 months? And are there any branches near Detroit?
Reply From Members First Credit Union:

Thanks for your inquiry.  Yes, the Whatever Loan may be paid in full prior to the due date.  We don't have any branches near Detroit, you can find your closest branch at http://www.mfcu.net/Locations.  In order to receive the Whatever Loan, you need to have the following in place:

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

· Most recent pay stub

To learn more about all of the Whatever Loan requirements, please contact our Contact Center at 855.835.6328 x. 0.  We look forward to helping you find your happy!

10/16/2018 11:19 PM an anonymous user.
Does your account need to be in the positive before you get the whatever loan?
Reply From Members First Credit Union:

Thanks for your inquiry.  In some cases, a member with negative balance may be eligible for a Whatever Loan if there is sufficient funds in Member Privilege.  However, it may vary on a case by case basis and depends on several other factors with your account history.  Please contact our Contact Center at 855.835.6328 x. 0 to discuss the specific details of your account and eligibility for the Whatever Loan.  We look forward to helping you find your happy.

Great loan
10/16/2018 1:05 PM Kathryn M. from Sanford, MI
I have gotten this loan many many years in a row and it is a life saver at Christmas time.Dont know what I would do without it. Thanks MFCU
Reply From Members First Credit Union:

We love helping you find your happy!

Whatever loan
10/15/2018 10:18 PM Gary C. from Alma, MI
Is the line of credit thats attached to my checking account the same thing as the fast cash line of credit?? Just seeing if that is what needs to be paid off before getting the whatever loan
Reply From Members First Credit Union:

Thanks for your inquiry.  In order for us to confirm the line of credit on your account, please contact our Contact Center at 855-835-6328 x. 0.  We look forward to helping you find your happy!

10/15/2018 1:38 PM an anonymous user.
Do you still have to pay off fast cash loans in order to be approved for the whatever loan?
Reply From Members First Credit Union:

Thanks for the inquiry. As of November 1, members will not be allowed to have both a Fast Cash Loan and a Whatever Loan, only one or the other. So here are your options:

Option 1. You can have the Fast Cash Line of Credit and Whatever Loan until your current Whatever Loan is paid in full.  You can then continue to utilize the Fast Cash LOC, but will be unable to apply for a new Whatever Loan again.

Option 2. You can pay off your Fast Cash Line of Credit and continue to get the Whatever Loan each year (provided you meet the requirements).  If you cannot pay off the Fast Cash Line of Credit by November, it can be paid off with the Whatever Loan.  However, you cannot be preapproved for a Whatever Loan if you still have a Fast Cash Line of Credit. 

If you have any more questions about the Whatever Loan or Fast Cash Line of Credit, please contact your favorite loan office or our Contact Center at 855.835.6328 x. 0.  We look forward to helping you find your happy!

Preapproval
10/15/2018 1:04 PM Sally V. from Kawkawlin, MI
If I am preapproved, do I still have to go to the branch to apply? I'm working out of the area for the next few months and wouldn't be near a branch during business hours.
Reply From Members First Credit Union:

Thanks for your comment. This year, if you are preapproved, you can apply online.  If you recieve the preapproval in the mail, you will find instructions on how to apply online.  The preapproval timeline begins on October 22, 2018.  If you need more information, please contact us at 855.835.6328 x. 0.  We look forward to helping you find your happy!

10/12/2018 7:32 PM an anonymous user.
Is the $1500 still available for returning loaners?
Reply From Members First Credit Union:

Thanks for your comment.  We will if you had a positive history with the Whatever Loan in the past, you may be preapproved for a $1,500 Whatever Loan.  Letters will be out in the mail this week if you are preapproved, and you can also contact our Contact Center at 855.835.6328 x. 0.  We look forward to helping you find your happy!

10/12/2018 5:20 PM Tenisha B. from Saginaw , MI
Hi! What do I need to open an account with this credit union?
Reply From Members First Credit Union:

Thanks for your comment.  To set up an account, your will need to come in to your nearest branch.   Be sure to bring your driver’s license or state issued ID and Social Security Card, along with your opening deposit of at least $5.00.  Find the closest branch to you at http://www.mfcu.net/Locations.  If you have any other questions about opening up an account, please visit http://www.mfcu.net/Membership or call us at 855.835.6328 x. 0.  We look forward to helping you find your happy!

Post Comment

(Only last initial will display on comment)

(Not displayed on Comment)





What's this?
captcha
Go to main navigation Go to main navigation
Find Your Happy

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

Federally insured by NCUA.
We do business in accordance with the Fair Housing Law.