Truliant Federal Credit Union offers many different types of loans through its trademarked name Truliant, including personal loans for debt consolidation and home loans. It advertises its services at truliantfcu.org.
Truliant Federal Credit Union Summary
Truliant Federal Credit Union Review
Truliant Federal Credit Union Review Summary
Truliant Federal Credit Union has a long history of helping people with their finances of over 70 years. They offer many services to meet your needs and get you the money you need. Truliant is accredited and has an A+ rating from the Better Business Bureau. However, customers have not been as impressed, giving the company only a 1.49 out of 5-star rating, with most reviews being negative.
When it comes to personal loans, you have a lot of options. You can use a personal loan to consolidate debt, make home improvements, or just have extra cash on hand. But with so many lenders to choose from, it can be tough to know where to turn.
When you’re considering which financial institution to use, you want one that will give you the best interest rates and terms. Truliant Federal Credit Union is an option that has been getting a lot of attention lately. But is this lender right for you? Here’s a closer look at what Truliant has to offer so you can make an informed decision.
After taking a close look at their website and reading through their terms and conditions, here are a few interesting facts that stood out to us:
- The range of fixed rates goes from 6.99% APR to 17.99% APR.
- Terms range from 6 to 84 months.
- The rates and terms are subject to change.
- Loans are subject to credit approval.
- Borrowers who qualify may defer their loan payments for up to 90 days after signing their loan.
- Accrued interest on your loan will start from the date of closing until you begin making payments.
What is Truliant Federal Credit Union?
Since 1952, Truliant Federal Credit Union has been providing its members with a full range of financial services and products. Based in Winston Salem, North Carolina, Truliant Federal Credit Union provides credit union membership, savings and loan services, and investment options. They can be reached at (336) 659-1955.
Truliant Federal Credit Union received its accreditation from the Better Business Bureau in 1997 and they currently have an A+ rating on their BBB file. However, they have an average customer rating of 1.49 out of 5 stars. They have an average of 45 customer reviews and 41 complaints closed in the last 3 years.
How does Truliant Federal Credit Union work?
Applying for a Truliant Federal Credit Union membership can be done at one of their branches, online with their digital application, or over the phone. You will then be contacted by a member of their Digital Guidance Team to assist you in the process. Once the application process is completed and you are approved, your fund will be ready for disbursement.
How to qualify for Truliant Federal Credit Union?
Truliant Federal Credit Union offers some of the most competitive rates in the market. However, these rates are only available to those with great credit scores. The first step is to check your credit report to see where you stand and if you’re eligible for a good rate.
Truliant Federal Credit Union BBB Reviews
Truliant Federal Credit Union has been accredited by the Better Business Bureau since 1997 and currently has an A+ rating from them. However, the credit union has an average of 1.49 out of 5 stars, with an average of 45 customer reviews and 41 complaints closed in the last 3 years.
Read some of the Truliant Federal Credit Union reviews:
Ethen M 08/19/2022
I keep getting denied for loans, even though I have good credit and make all my payments on time. I’ve had a line of credit with them before, which I paid off early, and an auto loan, which was always paid on time, but when I applied for a loan to help to help cover moving expenses, or to consolidate some of my bills, I get rejected.
Tasha P. 06/23/2022
Terrible experience trying to take out a loan with Truliant. We ended up withdrawing our application due to the horrid customer service and the several mistakes that were made throughout the process, and even after we cancelled. The representatives have no respect for first time customers, and seem to tell you anything just to get you off the phone. I felt as if I was a burden to the representatives that I spoke with. I do not trust this company and will not be recommending them to anyone.
Gianela G 05/12/2022
Do not take out a loan with Truliant, they will tell you whatever it takes to get you to do it even lie to you about monthly payments, etc.. My husband and I applied for a home equity line of credit under FALSE PRETENSES of what our monthly payment would be and how the HELOC worked. We were told there would be a draw period (like all helocs) where we pay a lower monthly payment but it would mostly cover interest.
After applying for the loan turns out that they expect you to pay 1% of the outstanding balance on the loan every month and there is no true draw period where you pay mostly on interest, it’s just “like a big credit card”. So we wanted to take out 75k and we’re originally quoted $532/month given our credit, etc.. We’ll when our assigned loan processor she told us our payment was going to be $750. And that she also couldn’t tell us how much of it would go to interest and principal even though she knew the exact amount. A bunch of crooks and forced a credit pull on us based off of a lie.
Truliant Federal Credit Union FAQs
How much does Truliant Federal Credit Union charge?
Truliant Federal Credit Union offers Personal Convenience Loans with fixed rates that range from 6.99% APR to 17.99% APR. For those who prefer more variability in their payments, the Preferred Line of Credit has variable rates from 12.49% APR to 18.00% APR.
As a borrower, you may be able to defer your loan payments for up to 90 days after signing the loan agreement. This means that no payments will be due during this time, and interest will accrue from the closing date until payments begin. This program provides up to a 90-day extension of your loan, for a maximum term of 84 months.
Are there any pre-payment penalties?
Truliant Federal Credit Union does not charge application fees, origination fees, processing fees, or prepayment fees. If you are in a position where you wish to pay off your loan earlier than expected, you can do so at no extra cost.
How does Truliant Federal Credit Union affect your credit?
When you first apply for a loan, Truliant will do a soft credit pull to help them determine what interest rates and loan terms you may qualify for. This won’t have any impact on your credit score.
If you’re comfortable with the rates and terms you were offered and decide to move forward with the loan application, they will perform a hard credit inquiry. A hard inquiry occurs when a lender pulled your credit report to check your history and offer you final rates. These inquiries are common when applying for loans, but they can lower your credit score.
How to cancel Truliant Federal Credit Union?
Once you’ve applied for a personal loan, you can’t go back. Disbursement of funds into your account is final, and the transaction cannot be reversed or canceled. Be sure of your decision before applying for a personal loan to avoid any changes or cancellations down the line.
Do you find it difficult to make ends meet? Here is some advice that might help you recover financially.
- Creating and sticking to a budget is a great way to stay on track.
- Rather than speaking with a financial advisor, you may want to explore your options and develop a plan on your own. This can be a unique challenge, but it can also be very rewarding to figure out what works best for your particular circumstances.
- Don’t let debt hold you back! Many companies are willing to work with customers to create a more manageable payment plan. So reach out to their customer service team for more information. You’ll be surprised at how easy it is to get back on track.
Is Truliant Federal Credit Union legit or a scam?
Truliant Federal Credit Union has a long history of helping people with their finances of over 70 years. They offer many services to meet your needs and get you the money you need. Truliant is accredited and has an A+ rating from the Better Business Bureau. However, customers have not been as impressed, giving the company only a 1.49 out of 5-star rating, with most reviews being negative.
Before taking out a loan, it is important to consider all of your options carefully. Different lenders will offer different interest rates and terms, so it is important to compare them before making a decision. It is also a good idea to read customer reviews to get an idea of what others think about the lender. This will help you choose the best option for you and avoid taking out a loan that you cannot afford.
Have you heard of trulianfcu.org or worked with them in the past? Feel free to share your thoughts in the comments.
Thanks for reading!