Introducing the Ready Now Loan

If you need cash quickly for an unexpected expense, the Ready Now Loan by Financial Plus Credit Union may be worth your attention. With no credit check required, borrowers can request amounts up to $2,000. Approval is instant, 24/7, through the credit union’s digital banking platform, making it accessible at any time that fits your needs. While the exact interest rate and specific loan term details are not made available in the public documentation, there’s a mandatory $25 processing fee and a minimum deposit requirement. You must have maintained at least $500 monthly average direct deposit for the past three months and be an FPCU member to qualify. Loan amounts cannot exceed your monthly direct deposit amount, and only one Ready Now Loan is permitted per member at a time.

How to Apply: Step by Step

1. Log in to your Financial Plus Credit Union digital banking account.

2. Select the “Buy Now, Pay Later + Ready Now” option from the menu.

3. Complete the application and receive instant approval.

4. The funds are deposited directly into your account, ready for immediate use.

5. Ensure you meet the qualifying criteria before initiating your application for the fastest decision process.

Pros of the Ready Now Loan

This loan is ideal for those who may have a challenging credit history since there’s no credit check, removing a major barrier to approval. You have access to funds around the clock, which is extremely beneficial for handling emergencies.

The digital process ensures that approval and funding are both extremely fast, helping applicants face urgent needs without delay. No additional paperwork or in-person visits are necessary thanks to the streamlined online system.

Cons to Consider

The Ready Now Loan’s lack of published interest rate details can make it difficult to compare it against alternative short-term financing options. Additionally, a $25 processing fee is automatically added to any loan amount, regardless of how much you borrow.

The product requires at least three months of qualifying deposits and an existing membership with FPCU, making it inaccessible to non-members and those with irregular banking activity.

Our Verdict

The Ready Now Loan from Financial Plus Credit Union is a convenient emergency funding resource, especially for those with limited credit options. While the loan is best suited for current FPCU members who meet the deposit criteria, it stands out for its speed, simplicity, and no credit check requirement. If you prioritize those features and are comfortable with the membership prerequisites, this product is highly recommendable for urgent cash needs.