SESLOC Federal Credit Union

SESLOC is a credit union based in San Luis Obispo County and Northern Santa Barbara County, California. It offers low-interest-rate auto loans for residents of these counties.

SESLOC Federal Credit Union
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    How do SESLOC auto loans work?

    As a member of the credit union, you’ll likely be pre-approved for a loan on application.

    However, this won’t always be the case.

    You can check eligibility first by entering your social security number before moving through to the application. 

    You just need to fill in a short online form and you should know in a few minutes if you’ve been accepted.

    Repayment terms are up to 84 months and interest rates range from 3.44% to 16.50%.

    Credit score

    Credit unions can be quite flexible with credit scores.

    They act on behalf of the interests of all members and may use other criteria to ensure you can repay the auto loan.

    As such, SESLOC doesn’t state minimum credit score requirements.

    How Much Can You Borrow?

    SESLOC claims you may borrow up to 120% of the car’s market value.

    You’ll have to contact them directly for any upper limits as this will be based on your circumstances.

    What type of vehicles are eligible for financing?

    You can take out auto loans on cars, trucks, SUVs, motorcycles, motorhomes and travel trailers.

    How do I qualify?

    You must be a resident of either San Luis Obispo County or Northern Santa Barbara County in California.

    You must then apply for membership at SESLOC and pay a $5 membership fee and have a savings account with SESLOC with at least a $5 deposit.

    What documents do I need?

    You’ll need a government-issued ID, your passport, or driver's license alongside proof of address, social security number, and date of birth.

    What are the fees?

    Credit unions usually don’t charge origination fees or have late fees.

    However, SESLOC doesn’t explicitly state if any fees apply, so you’ll have to contact the team directly. 

    How long does the loan process take?

    The application can be completed in just a few minutes.

    However, SESLOC doesn’t state how long it will take before the money is in your account.

    Generally, credit unions take around five working days to deposit your loan.

    How to apply for an auto loan?

    Once your membership has been approved, the application process is simple.

    Just choose how much you’d like to borrow and fill in the one-page application form.

    SESLOC will then assess your application and determine your interest rate.

    What payment methods are supported?

    Payments will be taken monthly from your bank account or SESLOC account if you wish.

    Pros and Cons


    • Low interest rates
    • 0.25% reduction in interest rates for those making repayments from a SESLOC checking account


    • Only available to residents of San Luis Obispo County and Northern Santa Barbara County, California.
    • You must have a SESLOC savings account to apply

    Is SESLOC Federal Credit Union right for you?

    If you live in either San Luis Obispo or Northern Santa Barbara counties, then this might be a good option for you.

    Credit unions can generally offer low rates and can help you out if you have bad credit. 

    However, you’ll get a much wider range of choice trying a larger auto loan provider.

    Consumer Credit Union and Capital One have more options and offer no-obligation quotes.