Frequently Asked Questions

We understand that banking can be complex, and we want to make sure that you have all the information you need to make informed decisions about your finances. Browse our frequently asked questions for answers to
commonly asked questions about our banking services.

How much does Citizens lend?

At Citizens Savings & Loan, our loans typically range from $1,000 to $30,000. The total loan amount you can borrow is determined by several factors, but the most important factor is your ability to repay the amount of money borrowed. Other factors include your employment history, credit history, and loan collateral.

How do I create an online account?

For instructions to create an online account, please click here.

What is the minimum credit score required?

Our main goal is to:

  • Help customers, especially those people whose credit quality may limit their access to a bank loan
  • Obtain the money they need.

For this reason, we do not have a minimum credit score requirement like many other lenders. Although we do consider your credit score when reviewing your loan request, you will not be turned down for a loan at Citizens just because your credit score is low.

Will a past bankruptcy keep me from being approved for a loan?

No, not at Citizens! We approve loan applications every day for customers who have had a past bankruptcy. We know that sometimes bad things happen to good people, and that a bankruptcy may have been your only choice. However, all bankruptcies must be discharged or closed to qualify for a loan.

What do I need to qualify for a loan?

The most important qualifier to receive a loan from Citizens is your current ability and willingness to repay the loan. You will need to have a stable source of income and you may need some type of collateral. Finally, we also need a complete and accurate loan application to process and approve your loan request. If you’d like to start a new loan application now, simply click here!

Do all Personal loans require collateral?

Not all personal loans from Citizens require you to put up some type of collateral. Depending on your income and other credit factors, you may be able to qualify for an unsecured loan amount up to $4,000. However, all loan amounts greater than $4,000 do require you to have some type of collateral, such as cars, trucks, motorcycles, ATVs, boats, campers, tractors or other personal property as security for the loan.

Are there any upfront costs or fees to apply for a personal loan?

Some loan companies will charge their clients “upfront fees” or “upfront costs” prior to approving your loan application. An example of an “upfront cost” would be having to pay for a credit report to submit with your application for a loan. At Citizens, there is never a charge for submitting or processing a new loan application. If your application is approved, the loan fees are included onto your total loan balance.

Are there any other services Citizens can offer me?

Yes! Citizens offers credit insurance products, such as Disability, Life, and Involuntary Unemployment Insurance, car club memberships, and even a service warranty for your vehicle. We can add any of these credit insurance products to your loan for a nominal amount. Also, depending on the circumstances, we can help by consolidating your bills or even help to pay off debt! You can use the convenience of the internet to make your loan payments online through our secure web portal! Ask one of the friendly, knowledgeable employees at your local Citizens branch today!

Why is my payoff amount different from my loan balance?

This is a very common question we get from our customers. When you have a precomputed interest loan, your “loan balance” is the total of the principal loan amount, all interest, and all fees to be paid assuming all loan payments will be paid when due for the duration of the loan. If you choose to pay off your loan early, then a portion of loan’s interest and some loan fees included in your total loan balance are often refunded. Your “payoff amount” is the “loan balance” less the amount of interest and fees that are refunded as a result of your decision to pay off your loan early.

Also, if you purchased credit insurance with your loan, a portion of the insurance premium may be refunded. These refunds will cause the “payoff amount” to be less than your “total loan balance” for a precomputed interest loan.

How can I improve my overall credit?

The best way to improve your existing credit score is to begin or continue paying all of your credit card and loan payments on time. This means the payment needs to be received by the lender or creditor on or before the payment’s due date. Late or missed payments will often be seen as a sign that you may have trouble paying back credit. Since we report your payment history to a credit bureau, making timely payments on your loan account with us can help rebuild your credit score! 

Please remember, NEVER borrow or charge more money than you can afford to pay back.

Why is Citizens calling or emailing and asking for my Social Security Number or date of birth?

We won’t! That could be a scammer attempting to steal your identity. Once you are a customer at Citizens, we will not call and ask for your complete social security number or your entire date of birth over the phone or through email or text. Although we do need that information to complete your application and approve you for a loan, that information is typically given through a call you have placed to one of our branch offices or provided to us through an online loan application.

For security and verification purposes, the staff at Citizens may occasionally ask you to give us ONLY the last four digits of your Social Security Number and/or ONLY the month and day of your birthday.

To learn how to protect your identity and to see additional helpful information for consmers, the Federal Trade Commission (FTC) can help! Go to the official FTC website for more information.

Is there anything else I need to know about borrowing money?

Through Citizens Savings & Loan’s membership in the American Financial Services Association (AFSA) and our support of the AFSA Education Foundation, we are working to help create and support educational programs that focus on empowering individuals with the resources to make sound financial decisions and avoid abusive or fraudulent situations.

I received mail advising I need to obtain a copy of the UCC-1 Financing Statement. What should I do?

We have recently been made aware of scammers sending mail to our Tennessee (TN) and Georgia (GA) customers using a document that implies the mailer is from the FL UCC Statement Service or TN UCC Statement Service. These scam mailers are not affiliated with Citizens Savings & Loan or any loan you have made with Citizens Savings & Loan.

These mailers will falsely imply that you need to obtain a copy of the UCC-1 Financing Statement filed in relation to your loan for a fee. In TN and GA, this scam mail is most commonly labeled as a “Tennessee UCC Statement Request Form or FL UCC Statement Request Form.” In both states, the scam mailers will attempt to get you to pay a fee between $90.00-$107.00 for a copy of the UCC-1 Financing Statement in relation to your loan with Citizens Savings & Loan. Except for your own personal records, you generally do not need a copy of this document.

Customers that would like a copy of the UCC-1 Financing Statements filed by Citizens Savings & Loan can request a free copy from their local Citizens Savings & Loan branch. Alternatively, TN customers can request a copy directly from the Tennessee Secretary of State’s office for a fee of $15.00; and GA customers can request a free copy from the GA Secretary of State at

Citizens Savings & Loan encourages anyone who has received any mail related to UCC-1 Financing Statements to reach out to your Secretary of State with any questions and to verify its authenticity before paying any fees. If you have any questions regarding the UCC-1 Financing Statement filed in relation to your loan with Citizens Savings & Loan, please reach out to your local branch.

Tennessee: You may report suspicious UCC-1 Financing Statement mail received to the Tennessee Division of Business by phone at 615-741-2286 or email at; or the Tennessee Attorney General’s office by phone at 615-741-3491 or online,

Other Helpful Resources

For more information on growing and protecting your financial well being, please visit our Resources page or any of the following trusted websites:

Apply With Citizens Today

Citizens Savings and Loan has the resources and experience to help you find a loan that suits your financial situation. Apply now and receive financial assistance for your expenses.