Article: Credit unions are small, local banks that are owned by members rather than shareholders.  Because of this business model, credit unions tend to have lower fees and a different customer service model that evaluates loan applications based on more than just a credit score. If your credit is poor, the rate will still be high, but not as high as it would likely be at a large bank. Because credit unions are member-owned, you must become a member and be eligible for a loan. Opening an account at a credit union is the same as opening an account at any bank. Bring some cash and identification and a banker will help you set up a checking and/or savings account. Talk with a banker at the credit union about your eligibility for a loan, and fill out the necessary paperwork.  Because of the more personal approach taken by credit unions, the banker you talk to will be more likely to take into consideration your individual circumstances when applying for a loan. Even if a large bank has denied your loan application, a credit union may approve it.  Nonetheless, you should not expect to receive a loan under the same terms and conditions as you would if your credit was good: bad credit will still mean that any funds you receive will only be granted at a high interest rate. This is because the bank is taking a greater risk on your loan than on a loan to someone with a better credit score.  Your specific rate in this case can vary based on the loan offer your credit union makes. Consult an online loan repayment calculator to determine your payments and repayment schedule.

What is a summary?
Find a local credit union. Open an account. Apply for a loan.