A solution for financing a range of needs.

Personal loans offer flexible, convenient financing to help you pay for some of your biggest expenses. A personal loan from The Focus Federal Credit Union gives you the cash to make purchases, manage costs, or pay debt. 

With a personal loan from TFFCU, you can break up large expenses into smaller, easier-to-manage monthly payments, making them a beneficial financing option for a range of uses. Even if you have savings, a personal loan may be an excellent way to make a purchase without depleting your savings.

Whether the expense is planned or unplanned, a personal loan from Focus Federal Credit Union is a convenient and flexible way to get the money you need when you need it. 

With a personal loan from Focus Federal Credit Union, you can:

• Find Solutions. Personal loans in OKC offer financing options for a range of needs. You can use the loan to pay for home repairs or renovations, moving costs, medical bills, a dream wedding, college expenses, to consolidate debt, or for unexpected costs.
• Simplify Your Budget. Personal loans offer predictable repayment terms and typically lower interest rates than other options, such as credit cards. With fixed rates and a stable monthly payment, a personal loan makes budgeting simpler.
• Build Credit. Taking out a personal loan requires regular monthly payments toward the outstanding balance. Consistently making on-time payments will strengthen your credit history and credit score.

When it comes to the personal loan application process, TFFCU wants to work with you to find terms and conditions that fit your budget. 

We will review your:

• Credit History. Your credit history tells a story of your financial responsibility with past debt obligations. We want to understand your credit card payment history, credit score, and other loan payments, such as car loans or student loans. 
• Income. Income requirements differ, but you’ll need to provide proof of income in the form of recent pay stubs, tax returns, W-2 forms, and bank statements.
• Debt-to-Income Ratio. We will calculate your debt-to-income ratio to help assess your ability to handle debt. Our goal is to ensure a fair and accurate assessment, and generally, we look for a DTI of 36% or less.

How can I get approved for a personal loan?

To increase your likelihood of getting a personal loan, you can work to improve your credit score. A higher credit score improves your likelihood of being approved for a loan. 

If you have difficulty getting approved, you may consider a co-signer. A co-signer is someone with good credit who agrees to be responsible for the loan of a person with bad credit in case you fail to make payments. Their good credit can increase your chances for approval.

Do personal loans have fees?

A personal loan will include fees such as loan origination fees, which are a percentage of the total loan amount and are added to the total cost of the loan. 

Does a personal loan impact my credit score?

As with any loan, making timely payments is crucial to avoiding fees and penalties. A personal loan can help build a positive payment history if repaid on time and in full. However, late payments can lower your score if they’re reported to the credit bureaus.