q Truliant Federal Credit Union Review: Is It A Scam Or A Reliable Lender? - Best 2020 Reviews

Truliant Federal Credit Union Review: Is It A Scam Or A Reliable Lender?

Will Americor Funding Hurt My Credit?

Disclosure: We receive advertising revenue from some partners. Learn More

 

The Truliant name is a registered trademark of Truliant Federal Credit Union. There are some different types of loans offered by the company, including personal loans for debt consolidation and home loans. On its website, truliantfcu.org, it advertises the services it offers.

5/5
4/5
4/5

Truliant Federal Credit Union Logo

Truliant Federal Credit Union Overview

In addition to consolidating debt, making home improvements, or having extra cash on hand, taking out a personal loan can have many benefits. The problem is that there are so many lenders to choose from that it is hard to know where to start.

Recently, Truliant Federal Credit Union has received a great deal of attention. Is this lender the right choice for you? Let’s take a closer look at what Truliant has to offer so that you can make an informed decision.

After reviewing their website and terms and conditions, we discovered some interesting information. The following are just a few of the things that caught our attention.

  • There is a range of fixed rates available from 6.99% APR to 17.99% APR.
  • There are terms ranging from 6 to 84 months.
  • The rates and terms are subject to change.
  • Credit approval is required for loans.
  • It is possible to defer loan payments for up to 90 days after signing a loan if you qualify.
  • You will accrue interest on your loan from the date of closing until you begin making payments.

What Is Truliant Federal Credit Union?

Since 1952, Truliant Federal Credit Union has provided its members with a full range of financial services. Among its products and services are credit unions, savings accounts, loans, and investments. The Truliant Federal Credit Union is a credit union with its headquarters in Winston-Salem, North Carolina. You can reach them at (336) 659-1955.

Truliant Federal Credit Union has received an A+ rating from the Better Business Bureau. The credit union has been accredited since 1997 and has an average customer rating of 1.49 out of five stars. Over the past three years, the credit union has received 45 customer reviews and resolved 41 complaints.

Ads Powered By Medallion

See If You Qualify for
Debt Consolidation in
  30 Seconds

How Does Truliant Federal Credit Union Work?

Truliant makes the process of becoming a member as easy and quick as possible. You can apply at one of their branches, over the phone, or by completing the online application through their website. Upon applying for the position, a member of their Digital Guidance Team will be able to assist you with the rest of the application process, providing you with personalized attention and answering any questions you may have. You will then have access to your funds whenever you wish.

How To Qualify For Truliant Federal Credit Union

Truliant Federal Credit Union Review: Is It A Scam Or A Reliable Lender? 1

Truliant Federal Credit Union offers some of the most competitive interest rates in the industry. Unfortunately, there’s a catch – you need to have great credit to qualify for these rates. The first step is to check your credit report to see where you stand in terms of your credit score.

Truliant Federal Credit Union BBB Reviews

An A+ rating has been awarded to Truliant Federal Credit Union by the Better Business Bureau. Having been accredited since 1997, the credit union has an average customer rating of 1.49 out of 5 stars. Over the past three years, the credit union has received 45 customer reviews and resolved 41 complaints.

Here are some relevant 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.

See If You Qualify for Credit Card Relief

See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.

 

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

Truliant Federal Credit Union Review: Is It A Scam Or A Reliable Lender? 2

How Much Does Truliant Federal Credit Union Cost?

For borrowers who want predictable monthly payments, Truliant Federal Credit Union’s Personal Convenience Loans have fixed interest rates ranging from 6.99% APR to 17.99% APR. Their Preferred Line of Credit offers rates ranging from 12.49% APR to 18.00% APR for those who prefer a variable rate.

Qualified borrowers can defer payments on their loan for up to 90 days after signing. Interest accrues from the closing date until the first payment is made. With this program, you can extend your loan for up to 90 days, for a maximum term of 84 months.

Do They Charge Prepayment Penalties?

Truliant Federal Credit Union does not charge an application fee, a processing fee, an origination fee, or a prepayment fee.

How Is Your Credit Affected By Truliant Federal Credit Union?

To begin the application process, they will do a soft credit pull to determine what interest rates and loan terms you may qualify for. There will be no impact on your credit score as a result of this.

Once you have decided to proceed with the loan application, they will need to make a hard credit inquiry to obtain a comprehensive view of your credit history and to provide you with a final quote. A hard inquiry is a common occurrence when applying for a loan and may result in a decrease in your credit score.

Can I Cancel On Truliant Federal Credit Union?

Once you have applied for a personal loan, there is no going back. Upon disbursement of funds into your bank account, the transaction cannot be reversed or canceled. Before applying for a personal loan, you should be certain of your decision. By doing so, you can avoid any cancellations or changes in the future.

Do you find it difficult to make ends meet? we have provided some tips that may assist you in getting back on track.

  • Staying on track can be achieved by creating and sticking to a budget.
  • You can also speak with a financial advisor who can help you understand your options and create a plan that works for you.
  • If you’re already in debt, don’t worry too much about it. The majority of companies are willing to work with customers to create a more manageable payment plan. For more information, contact their customer service team.

Is Truliant Federal Credit Union Legit Or A Scam?

Over 70 years ago, Truliant Federal Credit Union began helping people with their finances. Their services are designed to meet your needs and help you get the funds you need. With an A+ rating from the Better Business Bureau and accreditation since 1997, Truliant has an excellent reputation. The company’s customers have not been as impressed, giving it a 1.49 out of 5-star rating.

Before taking out a loan, there are several factors to consider. Regardless of why you require a loan, you should shop around and compare rates from different lenders. Check out customer reviews to get an idea of what others have to say about the lender. In this way, you will be able to choose the best option for you and avoid taking out a loan that you cannot afford.

If you’ve worked with truliantfcu.org in the past, feel free to leave your experience and a short review in the comments below.

Thank you for reading!

Leave a Reply

Your email address will not be published. Required fields are marked *