Suncoast Credit Union Personal Loans Reviews

Suncoast Credit Union is a good fit for Florida residents who are already Suncoast members or who could benefit from becoming one. Those who are in need of a tech update, such as a new phone or laptop, can especially benefit from Suncoast’s technology loan.

If you like the sound of Suncoast Credit Union but find yourself ineligible to become a Suncoast member, you might want to search for a credit union available in your area.

Suncoast Credit Union offers two personal loans — one to cover your next tech purchase and one to cover just about anything else. It also offers an unsecured personal line of credit, several loans for home improvements (both with and without equity required) and loan options for mobile home purchases.

For those who want to borrow against their home’s equity, Suncoast offers home equity loans of five to 20 years as well as an equity line of credit.

Suncoast doesn’t disclose a range for its annual percentage rates (APR); however, it does disclose its lowest rate for each. As of publishing, its starting rates are as follows:

• Signature loan: 11.00% fixed APR
• Technology loan: 9.75% fixed APR
• Personal line of credit: 11.50% fixed APR
• Home improvement signature loan: 11.50% fixed APR
• Home improvement secured loan: 11.00% fixed APR (10.00% variable for 20-year term)
• New mobile home loan: 8.375% fixed APR
• Used mobile home loan: 8.875% fixed APR
• Home equity loan: 9.50% fixed APR (8.50% variable for 20-year term)
• Equity line of credit: 8.50% variable APR

It’s important to note that your individual rate will be determined by factors like your creditworthiness and loan term.

Suncoast Credit Union doesn’t charge application fees or prepayment penalties. Although it may charge other fees, such as a late fee, it doesn’t disclose so on its website. Equity loans come with closing costs, although Suncoast will pay up to $1,000 of these.

Before applying for a Suncoast Credit Union personal loan, you’ll need to become a Suncoast member. To be eligible to do so, you must live, work, attend school or worship in the following Florida counties:

• Alachua
• Brevard
• Broward
• Charlotte
• Citrus
• Clay
• Collier
• DeSoto
• Dixie
• Duval
• Gilchrist
• Glades
• Hardee
• Hendry
• Hernando
• Highlands
• Hillsborough
• Indian River
• Lake
• Lee
• Leon
• Levy
• Manatee
• Marion
• Martin
• Miami-Dade
• Monroe
• Orange
• Osceola
• Palm Beach
• Pasco
• Pinellas
• Polk
• Sarasota
• Seminole
• St. John
• St. Lucie
• Sumter
• Volusia

If you are eligible, you can apply for membership and open an account at the same time by following the prompts on Suncoast’s website. Once your membership is approved and your account is open, you can apply for a Suncoast personal loan.

You can go about doing so in three ways:

1. Apply online: You can apply for a Suncoast personal loan online. You’ll need to follow the prompts, which are only accessible with a membership, on its personal loan page. These will guide you through the application process.
2. Apply over the phone: You can apply for a personal loan over the phone. A Suncoast representative will be able to answer all of your questions and help you process your application.
3. Apply in person: You can apply for a loan in person, but it is recommended that you print out and complete an express application form before visiting your branch. This will help speed up the process and allow you to visit a branch anytime without the need for an appointment.

When compared with competitors, such as OneMain Financial, Suncoast offers more loan options with lower rates. That said, it has one main disadvantage: its lack of availability to anyone outside of certain counties in Florida.

Here’s how Suncoast Credit Union and OneMain Financial stack up:

Although Suncoast Credit Union is the largest credit union in Florida, it only has a 1.4-star customer rating on the Better Business Bureau's website. However, it has a strong presence within the communities it serves, including a partnership with the Tampa Bay Rays.