Summary
Blue Trust Loans is permanently closed and no longer accepting loan applications. This review covers what the company offered when it was operating, and lists better alternatives for borrowers who need emergency funding.
Company is permanently closed
Offered loans from $100 to $3,000 when operating
Repayment period of up to 6 months
APR rates ranged from 471% to 841%
Faced class action lawsuit for predatory lending
What is Blue Trust Loans?
Note: Blue Trust Loans is no longer operating. The information below describes what the company offered when it was active.
Blue Trust Loans was a tribal lender owned and operated by the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. The company was run through Hummingbird Funds, LLC, a sovereign enterprise of the tribe.
Blue Trust Loans offered personal installment loans between $100 to $3,000, although first-time borrowers were limited to $1,200.
Installment loans from Blue Trust Loans typically had a high APR, usually between 471.78% to 841.45%. Loan terms could be up to six months.
Blue Trust stated that it was a better alternative to a traditional payday loan, though its APR rates were among the highest in the tribal lending industry.
How Blue Trust Loans Worked
When the website was active, visitors saw an offer to apply for a loan of up to $3,000 that would be deposited into their bank account as soon as the next day.
Blue Trust Loans did not offer loans to Active Duty Military, their dependents, or spouses. Loans were also not available in all states.
Note
Blue Trust Loans does not fund loans in these states: Arkansas, Connecticut, Georgia, Hawaii, Massachusetts, Minnesota, New York, Pennsylvania, Vermont, Virginia, Washington, Wisconsin, or West Virginia.
Loan Requirements
Here were the loan requirements when applying for a Blue Trust loan:
Be at least 18 years old
Have an active bank account that accepts direct deposits
Have a regular stream of income
Have a valid contact number and an active email address
No minimum credit score was required
Rates & Fees
APR rates ranged from 471.78% to 841.45% depending on the loan origination fees and the duration of the loan.
There was no cost to use the Blue Trust Loans website and there may have been a loan origination fee, which was disclosed in the terms prior to accepting the loan.
Payment Terms
Loan repayment terms ranged from 270 to 300 days.
Failure to make repayments on time would incur late fees and penalties, as stated in the loan agreement. Loans could be paid in full with no early payment penalty.
Fill out the online application
Completing the online application took only a few minutes and if approved, borrowers could eSign their documents immediately.
Verify your information
A customer service representative would call to verify your information, or you could call them 24/7. Once details were confirmed, borrowers received a copy of the loan agreement via email.
Receive your funds
The money would be deposited into the borrower's bank account as soon as the same day.
Blue Trust Loans was convenient for borrowers who needed cash quickly but didn't have time to complete an in-person loan application.
All documents were eSigned after approval, so the loan could be finalized quickly.
Blue Trust Loans did not specify income requirements or checking account duration. This information was provided by a representative once the loan request was made.
Our Blue Trust Loans Review
Blue Trust Loans was different from payday loan lenders because it offered installment loans that gave the customer six months to pay it back in full.
Instead of applying an interest rate, the loan cost the customer for every $100 borrowed, and this was charged monthly, biweekly, or weekly.
The option was there to pay back the loan early to save money.
Blue Trust Loans was operated by Hummingbird Funds, LLC, a sovereign enterprise of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians.
Loans serviced by this tribe-regulated entity were not subject to government oversight.
While the American Indian Tribe is recognized by the federal government, any complaints were resolved using Tribal Law and the loan agreement.
Most Blue Trust Loans reviews from customers were negative, with common complaints about the extremely high interest rates and the difficulty of paying off loans once the compounding costs kicked in.
Class Action Lawsuit
Blue Trust Loans faced a class action lawsuit alleging a "rent-a-tribe" scheme, where operators allegedly hid behind the tribe's sovereign immunity to avoid state usury laws. One plaintiff reported an APR of 415.67%, well above lawful interest rates in most states.
The broader tribal lending industry saw a major settlement in 2024, when Lac du Flambeau tribal leaders and non-tribal payday lenders agreed to a $37.4 million settlement and canceled approximately $1.4 billion in outstanding debt from loans that often carried interest rates above 700%.
Is Blue Trust Loans Legitimate?
Blue Trust Loans was a legitimate company in the sense that it was a real business that issued real loans. It was a member of both the Native American Financial Services Association and the Online Lenders Alliance.
However, the company's tribal lender status meant it operated outside standard state consumer protection laws. The company's privacy policy outlined how they collected and shared personal information, which could include bank account information, Social Security numbers, or credit history.
The Blue Trust Loans phone number was 1-877-770-2682.
Alternatives to Blue Trust Loans
Since Blue Trust Loans is no longer operating, borrowers looking for loans like Blue Trust Loans should consider these better alternatives:
- Credit union loans - Many credit unions offer payday alternative loans (PALs) with APRs capped at 28%, far below tribal loan rates
- Personal loans - Online lenders like Upgrade and Upstart offer personal loans with much lower APRs, typically between 6% and 36%
- Bad credit loans - Several legitimate lenders specialize in loans for borrowers with poor credit, without the predatory rates of tribal lenders
- Cash advance apps - Apps like Earnin and Dave offer small cash advances without interest charges
- Payday loan alternatives - Compare legitimate payday loan options with transparent terms and state-regulated rates
Before taking any high-interest loan, consider whether you truly need it. Negotiating payment plans with creditors, borrowing from family, or seeking local nonprofit assistance programs may be better options.
Sources
Blue Trust Loans FAQs
What happened to Blue Trust Loans?
Blue Trust Loans is permanently closed and no longer accepting loan applications. The company, operated by Hummingbird Funds, LLC (a sovereign enterprise of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians), shut down operations. The company also faced a class action lawsuit alleging a predatory "rent-a-tribe" lending scheme.
Is Blue Trust Loans legit?
Blue Trust Loans was a legitimate tribal lender, meaning it was a real company that issued loans. However, it operated under tribal sovereignty, which meant it was not subject to state consumer protection laws. The company was not BBB accredited and received mostly negative customer reviews due to its extremely high APR rates (471-841%).
What was the maximum loan amount from Blue Trust Loans?
First-time customers could qualify for up to $1,200 (some sources listed $1,500). Returning customers in good standing could qualify for up to $3,000.
What were the APR rates at Blue Trust Loans?
APR rates at Blue Trust Loans ranged from 471.78% to 841.45%, depending on the loan amount and repayment terms. For new customers, the typical cost was up to $59 per $100 borrowed on a monthly pay period, up to $29.50 per $100 borrowed on a biweekly or semi-monthly pay period, and up to $14.75 per $100 borrowed on a weekly pay period.
Could you pay back a Blue Trust loan early?
Yes, Blue Trust Loans allowed early repayment without any penalties. Paying back your loan early was one of the few ways to reduce the total cost of borrowing from this high-APR lender.
What are the best alternatives to Blue Trust Loans?
Better alternatives include credit union payday alternative loans (PALs) with APRs capped at 28%, personal loans from online lenders like Upgrade or Upstart (6-36% APR), bad credit loans from state-regulated lenders, and cash advance apps like Earnin or Dave. All of these options offer significantly lower rates than tribal lenders.
What is the Blue Trust Loans phone number?
The Blue Trust Loans phone number was 1-877-770-2682. Since the company is now closed, this number may no longer be active.
What states did Blue Trust Loans not serve?
Blue Trust Loans did not fund loans in these states: Arkansas, Connecticut, Georgia, Hawaii, Massachusetts, Minnesota, New York, Pennsylvania, Vermont, Virginia, Washington, Wisconsin, or West Virginia.
