University Federal Credit Union

UFCU is a proudly diverse, member-owned cooperative that seeks to bring about human and social development. It claims that it strongly believes in fair and honest products and outstanding service for its members.

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    How do University Federal Credit Union auto loans work?

    The best auto loan rates at University Federal Credit Union are quite attractive. A 48-month loan with an excellent credit score will have a rate of 2.15%, and a 67 month plus would be 4%.

    Credit score

    An ‘excellent’ credit rating is described as being 740 or above. The interest rate rapidly gets worse as your credit score decreases, with a 48-month loan to someone with a ‘fair’ rating being 6.15%, and with no rating at all is 14.65%.

    How much can you borrow?

    When you take an auto loan with University Federal Credit Union, you can finance the entire 100% value of the new car.

    What types of vehicles are eligible for financing?

    The vehicles covered by University Federal Credit Union’s auto loans are cars, vans, SUVs, motorcycles recreational vehicles and boats.

    How do I qualify?

    There are a few different ways in which you can apply to become a member of University Federal Credit Union, namely:

    • Be employed by a company in our field of membership
    • Be enrolled in or employed by a school in our field of membership
    • Belong to an association in our field of membership
    • Be the immediate family member of a UFCU member

    For a full list of these schools, employers, and organizations, please visit the website.

    What documents do I need?

    As is common with these kinds of applications, you need to be able to prove who you are and that you can legally drive, along with where you live. Be sure to have the relevant documentation. 

    What are the fees?

    There are no stated late fees on the University Federal website, but this doesn’t guarantee that there aren’t any.

    How long does the loan process take?

    Filling out the online form is simple, and will only take you a few moments. Once you’re a member and you’ve got your loan approved (which can happen instantly) you only need to wait 3-5 business days for your money.

    How to apply for an auto loan?

    You have to apply for an auto loan using the website, but if you’re confused or need help, there’s a customer service number to call.

    What payment methods are supported?

    You need to pay using either a bank transfer or a credit or debit card.

    Pros and Cons


    • Decent rates
    • Receive the money quickly
    • A good customer service department


    • Rates are very steep for those with poor credit
    • The catchment area is quite small.

    Is University Federal Credit Union right for you?

    The University Federal Credit Union has some good deals, and if you’re eligible for membership, it may be worth a look. However, those with poor credit will suffer very high rates, and most people won’t be eligible.

    Perhaps you would be better suited to visiting the Carvana money lenders, as this company will be more lenient on those with poor credit, and it services the entire nation.