Have not seen the Government Shutdown Loan Offer

Fouder
Contributor
I am an active duty Coast Guard member and USAA member. I have not received any notice of the loan offer that I keep reading other members have been offered. I have checked email as well as the USAA Facebook page, online site and my USAA app. I called and spoke to a representative yesterday who knew nothing about this option. Where do I find out more about this loan option and how to apply?

Thank you.

42 REPLIES

@Fouder
One reason you may not see the offer is if you are using a saved link, such as a favorite/bookmark/shortcut to bring up our website before logging in.
Please clear history/cookies/cache and enter http://USAA.com directly into the address bar of a new browser window.

If you still do not see the offer, please give a call to our Lending Team at 210-531-8722 for assistance.

Thank you for reaching out, I'm sorry to hear you've been affected by the shutdown.   ~ Lori C

I’m guessing that since I haven’t heard of this either that federal civilians are left out once again...any comment other than “give us a call to discuss”?

You haven't missed anything much IMO.  The offer is for an Unsecured Loan between $2500 and $6000 with 12 months to pay it back at an APR of 0.26% (lowered to 0.01% APR if you setup Automatic Payments).  The offer itself is actually great (other pro-mil banks are offering immediate payback options only whereas this gives you a full year to payback) on face value, but it is terrible in reality.  So far I haven't heard of anyone getting approved and the numbers that I know so far is folks with a 720-730 credit score trying to get the $2500 minimum amount do not have a high enough score to qualify and folks with 760 going for $5000 are being denied as well.  But don't worry, they will offer you a full normal rate unsecured loan with no rate adjustments when you inevitbly do not qualify :/  

So in reality, you aren't missing anything significant because unless your credit score is higher than that, you will not only be denied but also incur a Hard Inquiry on your credit report.  USAA is doing nothing more than a rushed out publicity stunt that pays nothing more than meek lip service to us!

Leave USAA and go to Navy Federal. They are not looking to profit off your misfortune like USAA is. 

Actually they are. Yeah they are giving a 0.00 apr. But as soon as the checks hit, you have to pay it back immediately. Leaving you in the hole again. Going to them asking for a loan.
Actually, you are wrong. It is an unsecured loan with a low apr. It's better than NFCU payday loan. The minimum is [removed sensitive data]. My chief applied for 30K and was approved. So how about you call and speak to someone before giving wrong info?

Fake news: This USAA loan is for a minimum of $2500 AND A MAX OF $6000. So tell us all again how he was approved for $30k?

I cannot speak for the 30k, but USAA is not capped at 6K as I was approved a 8K loan for this shutdown.  I definately understand why people are upset and had I not been approved I would be upset too.  But for now, USAA has come through for me and my family.  I also have two auto loans through USAA and both were deferred payments for the month of January.  

He applied that's how. See comments below. Another person was approved for 8k. Like I said call them. It's not capped like NFCU