Posted onNovember 2, 2022

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

Truliant is a registered trademark of Truliant Federal Credit Union. The company offers many different types of loans, including personal loans for debt consolidation and home loans. It advertised its services at truliantfcu.org.

 

Truliant Federal Credit Union Summary

There are many benefits to taking out a personal loan, such as consolidating debt, making home improvements, or simply having extra cash on hand. But with so many lenders to choose from, it can be difficult to know where to turn.

Truliant Federal Credit Union is one option that has been getting a lot of attention lately. But is this lender right for you? Here’s a closer look at what Truliant has to offer so you can make an informed decision.

We took a close look at their website and terms and conditions and found some interesting facts. Here are just a few of the things that caught our attention.

  • The range of fixed rates is 6.99% APR to 17.99% APR.
  • Terms range from 6 to 84 months.
  • Rates and terms are subject to change.
  • Loans are subject to credit approval.
  • Borrowers who qualify may defer their loan payments for up to 90 days after signing their loan.
  • Accrued interests on your loan will start from the date of closing, until you begin making payments.

What is Truliant Federal Credit Union?

 

Truliant Federal Credit Union has been providing full-service financial solutions to its members since 1952. It offers a wide range of products and services, including credit union, savings, loans, and investment services. Truliant Federal Credit Union is a credit union headquartered in Winston Salem, North Carolina. They can be reached at (336) 659-1955.

Truliant Federal Credit Union is a credit union that has 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 5 stars. The credit union has an average of 45 customer reviews and 41 complaints closed in the last 3 years.

How does Truliant Federal Credit Union work?

Applying for membership with Truliant is quick and easy – you can do so at one of their branches, over the phone, or online via their digital application. Once you apply, a member of their Digital Guidance Team will help you through the rest of the process, providing personalized attention and answering any questions you may have. After that, your funds will be ready whenever you are.

How to qualify for Truliant Federal Credit Union?

Truliant Federal Credit Union has some of the most competitive rates around. But there’s a catch – you need great credit to qualify for those rates. The first step is to check your credit report and see where you stand.

Truliant Federal Credit Union BBB Reviews

Truliant Federal Credit Union is a credit union that has 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 5 stars. The credit union has an average of 45 customer reviews and 41 complaints closed in the last 3 years.

Here are some 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.

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

How much does Truliant Federal Credit Union charge?

Personal Convenience Loans from Truliant Federal Credit Union have a fixed interest rate of 6.99% APR to 17.99% APR, making them a great choice for borrowers who want predictable monthly payments. For those who prefer a variable rate, their Preferred Line of Credit has rates ranging from 12.49% APR to 18.00% APR.

Qualified borrowers can defer payments on their loan for up to 90 days after signing, with interest accruing from the closing date until payments begin. This program provides up to a 90-day extension of your loan, for a maximum term of 84 months.

Are there any pre-payment penalties?

At Truliant Federal Credit Union, they have no application fee, no processing fee, no origination fee, and no prepayment fee.

How does Truliant Federal Credit Union affect your credit?

At the beginning of the application process, they’ll do a soft credit pull to give you some idea of what interest rates and loan terms you may be qualified for. This won’t affect your credit score at all.

However, once you decide to go ahead with the loan application, they will need to do a hard credit inquiry in order to get a full view of your credit history and offer you final rates. These hard inquiries are common when applying for loans and can lower your credit score.

How to cancel Truliant Federal Credit Union?

There’s no going back once you’ve applied for a personal loan. Once the funds have been dispersed into your bank account, the transaction can’t be reversed or canceled. So it’s important to be absolutely sure of your decision before applying for a personal loan. This way, you can avoid any cancellations or changes down the line.

 

Are you struggling to make ends meet? Here are some tips that may help you get back on track.

  • Creating and sticking to a budget is a great way to stay on track.
  • Another option is to speak with a financial advisor who can help you understand your options and develop a plan that works for your unique circumstances.
  • And finally, don’t worry too much if you’re already in debt. Many companies are willing to work with customers to create a more manageable payment plan. So reach out to their customer service team for more information.

Is Truliant Federal Credit Union legit or a scam?

Truliant Federal Credit Union has been helping people with their finances for over 70 years. They offer a variety of services designed to meet your needs and help you get the money you need. Truliant has an excellent reputation, having been accredited since 1997 and receiving an A+ rating from the Better Business Bureau. However, customers have not been as impressed, giving the company only a 1.49 out of 5-star rating, with most reviews being negative.

There are many things to consider before taking out a loan. Regardless of the reason you need the loan, it is important to shop around and compare rates from different providers. Be sure to read customer reviews to get an idea of what others think about the lender. This will help you choose the best option for you and avoid taking out a loan that you cannot afford.

 

Category: MONEY

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