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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Liberty First Credit Union

Finanso.Multilogin™
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Information written by the companyInformation written by the companyLiberty First Credit Union is a member-owned, not-for-profit financial cooperative. Those who do business with us are known as members. We exist solely to provide our members with affordable financial services; and members work together to achieve their financial goals. We were originally chartered as the Burlington Employees Cooperative Credit Association in 1935 and served the employees of the Chicago, Burlington & Quincy Railroad. Over the years, our field of membership has grown to include family members, retirees, select groups of occupation and association, those living or working in Lancaster or Seward County, Nebraska and those related to a member or someone within our field of membership. As our membership has grown, we have continually expanded our range of financial products and services to provide our members with the services they desire. Discover More: CHECKING AUTO & PERSONAL LOANS CREDIT CARDS HOME LOANS Visit libertyfirstcu.comDiscover More:

What to focus on before applying for a loan with Liberty First Credit Union

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Liberty First Credit Union and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Liberty First Credit Union’s reviews by September 2022
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