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Trailhead Credit Union

Trailhead Credit Union was originally established in 1935 to provide a secure place for employees of Portland Gas and Coke to borrow money from each other. Membership now extends to any resident of Multnomah County, Oregon.

Trailhead Credit Union
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    How do Trailhead Credit Union auto loans work?

    Interest rates on Trailhead auto loans range from 3.74% to 16.24% on all loans up to 60 months, and 4.24% to 16.74% on any loans with terms between 61 and 84 months.

    Your rates may also be slightly higher on cars that have more than 125,000 miles on the odometer, but discounts are available on those financing low-emission cars.

    Credit score

    Trailhead doesn't detail the minimum credit score requirements of its auto loans.

    However, credit unions often have flexible options available for members.

    How Much Can You Borrow?

    There are no stated limits on the borrowing amount.

    However, for every one percent over 100% of the car’s value you borrow, you’ll be charged an extra 0.5% interest.

    So be careful this doesn’t build up to something unaffordable for you.

    What types of vehicles are eligible for financing?

    You can buy any new and used car, motorcycles, and recreational vehicles.

    How do I qualify?

    You must be a resident of Multnomah County, Oregon in order to become a member of the credit union.

    Once in, you can apply for an auto loan.

    What documents do I need?

    Trailhead will ask for your driver's license and other identifying documents.

    It’ll let you know what these are on the application.

    What are the fees?

    No late payment or origination fees are listed by Trailhead.

    You should confirm any fees before you sign up for the loan.

    How long does the loan process take?

    An online application form is available which only takes five minutes to complete.

    However, Trailhead doesn't confirm how long it’ll take to be approved and to get the money in your account.

    How to apply for an auto loan?

    Most members apply using the online application form.

    You also have the option to apply in-branch, over the phone, or directly at a number of car dealerships across Multnomah County.

    What payment methods are supported?

    • Set up monthly recurring payments via online or mobile banking
    • Make one-time payments via the Trailhead member portal
    • Make your payments by check by either mailing it in or dropping it off in person at your local branch

    Pros and Cons

    Pros

    • Interest rate discounts on low-emission cars
    • Multiple repayment methods supported

    Cons

    • Only residents of Portland and the surrounding Multnomah County can apply for its auto loans
    • You may be subject to high interest rates if you have poor credit

    Is Trailhead Credit Union right for you?

    Trailhead encourages active involvement in the local communities it services, so if you live in Portland or Multnomah you might want to check it out.

    However, the restrictive membership conditions mean that most people won’t be able to join.

    Instead, you might want to try an auto loan provider like the Consumer Credit Union.

    It offers the same low interest and benefits you’d find at other credit unions, but it’s open to applications in all 50 states.

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