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Personalized service: Credit unions are known for their personal approach to banking, and this extends to their lending practices as well. Finally, banks may not be able to offer the online same level of personalized customer service as some alternative lenders, such as online lenders or credit unions.
Moreover, doorstep lenders may use aggressive sales tactics to persuade consumers to take out a loan, even if it is not in their best interest. You can often receive an approval decision within a few minutes of submitting your application, and the loans funds can be deposited into your account within a few hours or days, depending on the lender.