FAQs

It’s easy to get even more value from your Stanford FCU membership - just deposit your payroll with us or use our debit or credit card for your everyday expenses to access your Loyalty+ rewards (formerly Membership Rewards)!

At Stanford FCU, we want to help you make the most of your banking experience. That’s what Loyalty+ is all about. You get more value when you do more business with us. There are two levels of membership based on your engagement: Partner and Ambassador.

You’ll enjoy exclusive benefits like bonus deposit rates, loan discount rates, and unlimited free worldwide ATMs.

Learn more on our Loyalty+ web page, and view your Loyalty+ status in Digital Banking.

You can get your own credit report for free by visiting annualcreditreport.com.

Your credit score is a reflection of the information contained in your credit report, and we encourage members to review their credit report regularly.  Here’s what you should look for and what it means to your credit:

• Accuracy – Review the entire report for general accuracy. If you see any accounts that you didn’t open or any existing accounts with errors, you should contact the credit bureau to request a correction.
• Inquiries– Your credit report will show who has been accessing your credit report. There are two types of inquiries:
  • Soft inquiries include inquiries made by creditors with whom you already have a credit account, inquiries where you’re monitoring your own credit, or when your credit is checked by a lender to make you a pre-approved credit offer. Since lenders are not making a lending decision or guaranteeing approval, these inquiries are typically considered promotional and won’t affect your credit score.
  • Hard inquiries occur when a business has accessed your credit report in connection with an application for credit. If you see any hard inquiries that you don’t recognize, it may be an indication that someone is attempting to obtain credit using your name and social security number. In that event, you should quickly report the inquiry to the credit bureau.

Your Free Credit Report

Under federal law, you are entitled to a free copy of your credit report once every 12 months from each of the three credit bureaus: Equifax, Experian, and TransUnion. The bureaus have established one central service for consumers to contact:

Annual Credit Report Request Service

Website: annualcreditreport.com

Telephone: 877-322-8228

Mail: P.O. Box 105281, Atlanta, GA 30348

You can obtain your three reports all at once, or stagger your requests throughout the year to monitor your credit more frequently. Your credit score is not included with the report, although you can purchase it for a fee. You can also view your free credit score quarterly in Digital Banking!

When existing members apply for a credit card, vehicle or personal loan through Digital Banking, they can check the status of any loan application by clicking here!

Once your loan is approved, a representative will contact you within one business day to finalize the process.

If you didn’t apply through Digital Banking, you may call us at 888.723.7328 to speak with a representative about your loan status.

If you applied for a home loan, you can log into the mortgage portal or contact your Mortgage Consultant directly for an update on the status.

Stanford FCU does offer loans to help consolidate bills and pay off other debts. There are several options available to most members. These may include personal loans, credit cards, home equity loans/lines, or even a first mortgage.

If you’d like to discuss your options prior to applying, you may call a Member Care Team Specialist at 650.723.2509 (local) or 888.723.7328 toll free. They can assess your personal situation and help determine which loan type is best for you.

You can also make an appointment at a local branch to discuss your loan needs.

When you apply for a credit card, auto or personal loan, you should have a decision within 1-2 business days.

Mortgage loans are more complex, and the decision may take several days as we gather additional information from you.

Apply today! Members will apply for a credit card, auto or personal loan through Digital Banking or the mobile app. Non-members must first apply for membership online in as little as 10 minutes.  You can also apply by phone at 888.723.7328 or make an appointment at a local branch to discuss your loan needs.

Looking for a home loan? Both members and non-members can apply for a home loan online .

Yes, and you can use the funds for anything you need! Personal Loans and Lines of Credit are perfect any time you need money to consolidate debt, pay medical expenses, or just want funds available for an emergency.

It’s quick and easy to apply, and you can get the funds in as little as one business day.

Current members can apply through Digital Banking. Non-members must first apply for membership online in as little as 10 minutes.

You may request a Payoff Letter in Digital Banking that includes all the information needed for another lender to pay off your Stanford FCU personal, vehicle, motorcycle, or RV loan. The letter will include the payoff amount that is due 10 days from when you generate the letter, as well as your name, account number, and the Stanford FCU address to send the check. If the payment is received before the 10 days, we’ll refund the difference to you. If the payment is received after the 10 days, the amount will not cover the full payment due as interest accrues daily. Note: If you wish to pay off the loan from your own Stanford FCU account, there’s an option to pay the Total Amount Due under Make a Payment in Digital Banking.

1. Log into Digital Banking
2. From the home page, click on the loan that you want to pay off
3. Click on the Payoff Letter tab
4. Click on the Payoff Letter widget to download a PDF for a 10-day payoff letter

Alternatively, you may request a Payoff Letter by calling 888.723.7328, using Chat, sending a secure Message in Digital Banking, or visiting a local Stanford FCU branch.

A credit score predicts how likely you are to pay back a loan. Companies use a mathematical formula called a scoring model to create your credit score from information in your credit report. Your credit report contains information about your experience paying loans and other bills.

Stanford FCU provides each member with their free credit score quarterly in Digital Banking.

Some factors that make up a typical credit score include:

• Your history paying bills
• Your current unpaid debt, like credit card and other loan balances
• The number and type of loan accounts you have
• How long you’ve had loans
• How much of your available credit you’re using
• Any new applications for credit
• Whether you’ve had a debt sent to collections, a foreclosure or bankruptcy

Banks, credit unions and other lenders use credit scores to make decisions about whether to offer you a mortgage, credit card, auto loan, or other credit product. The credit score is also used to determine the interest rate you receive on a loan or credit card, and the credit limit.

It’s important to know that there are many different types of credit scores available to you and lenders. The actual scores will vary depending on the scoring model, the source of your credit history, the type of loan product, and even the day it was calculated.

Stanford FCU uses two different credit scores:

• FICO^® Score for real estate loans
• VantageScore 3.0 for consumer loans (vehicle, personal and credit cards)

Both credit scores range from 300 to 850 and were developed jointly by the three major credit bureaus (Experian, Equifax, and Transunion). Usually a higher score makes it easier to qualify for a loan and may result in a better interest rate.

Where did Stanford FCU get my VantageScore that’s posted online?

Stanford FCU partners with Experian to provide all of our members with your free VantageScore. You can also request your free credit report directly from annualcreditreport.com.

Will viewing my score hurt my credit?

No, Stanford FCU does a soft pull on your credit so it will not affect your score.

Can I opt out of viewing my score?

Stanford FCU provides your VantageScore based on Experian data to help you monitor your credit so you can qualify for more affordable loans. You can opt out of receiving it by calling 888.723.7328 or sending us a secure Message through Digital Banking.

Will this VantageScore be used for my consumer loan or mortgage loan application?

The credit score you see in your Digital Banking is used for informational purposes only, as your actual score can change frequently. When you apply for a loan with us, we will pull your full credit report and use that credit score and history.

How often is my online score updated?

We will update your score four times per year at the beginning of each quarter (January 1st, April 1st, July 1st, and October 1st). New members won’t see their credit score until the beginning of the quarter following their new membership date.

Why can’t I see my credit score in Digital Banking?

There are several reasons why you may not have a credit score:

• You’re a new Stanford FCU member
• You opted out (you can opt back in by calling 888.723.7328 or sending us a secure Message through Digital Banking
• Our information about you is mismatched or missing, e.g., an address change that has not been updated with Stanford FCU or Experian
• Your credit history is too new
• Your account status is abandoned, bankrupt, fraud, closed, revoked, charged off, lost or stolen
• You have a foreign address

Of course! Stanford FCU offers several convenient methods to make your loan payments:

• Pay online through Digital Banking
• Set up automated transfers from a Stanford FCU checking (spending) account through Digital Banking
• Mail-in Payments
  • Stanford Federal Credit Union
    PO Box 10690
    Palo Alto, CA 94303-0843
• Pay Over the Phone by contacting a Member Care Team Specialist at 650.723.2509 (local) or 888.723.7328 toll free, Option 0.

If you want to make a loan payment at another financial institution, click here.

Since interest accrues to your loan balance daily, your loan payoff amount changes every day.

Vehicle Loans and Personal Loans

• Log in to Digital Banking and choose Payoff & Close as the Payment Type.

Mortgage Loans

• To determine your exact mortgage loan payoff amount, please contact our Member Care Team at 888.723.7328, send us a secure Message through Digital Banking, or visit one of our branch locations.