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  Consumers Credit Union Personal Loan
Consumers Credit Union Personal Loan
in Personal Loans from Consumers Credit Union
Claimed

Consumers Credit Union Personal Loan

Claimed
in Personal Loans from Consumers Credit Union
SuperMoney Net Recommendation Score +50  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

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Highlights
Community Rating Strongly recommended
APR  (Fixed APR) Starting at 8.99%
(Verified 08/04/2023)
Loan Amount $500 - $40,000
Loan Term (Months) Up to 72 months
Number of Reviews 14

Consumers Credit Union Personal Loan Review

Consumers Credit Union Personal Loan is offered by Consumers Credit Union, a credit union founded in 1930 and based in Waukegan, IL. Consumers Credit loans are available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 8.99%. Rate is quoted with autopay discount*. These are typical starting rates for personal loans.
  • Strongly recommended. 9 out of 14 SuperMoney community members recommended Consumers Credit Union Personal Loan.
  • Cosigner applications accepted. Applying for Consumers Credit Union Personal Loan with a cosigner can improve your chances of approval and help you qualify for lower interest rates.
  • Super long loan terms. Consumers Credit Union Personal Loan offers loan terms of up to 72 months. Most personal loans have a maximum term of 60 months.
  • Minimum income of $6,000. You will need an annual income of at least $6,000 to apply for Consumers Credit Union Personal Loan, which is below average for the lenders in our database

Consumers Credit loans Pros & Cons

Pros Cons
  • $0 prepayment fee.
  • Cosigners accepted.
  • Charges an origination fee.
  • Only considers applicants with good credit.
  • Does not offer pre-approval with soft credit pull.
  • Charges a late fee of $29

Consumers Credit loans FAQ

What interest rates and personal loan terms does Consumers Credit loans offer?

What interest rates does Consumers Credit loans offer?

Consumers Credit loans offers a fixed APR personal loan product that starts at 8.99% APR. Rate is quoted with autopay discount*.

How much can you borrow via Consumers Credit loans?

Personal loan amounts start at $500and go up to $40,000

What is the maximum loan term you can get with Consumers Credit loans?

Consumers Credit loans offers loans with terms of up to 72 months.

Consumers Credit loans Interest Rates & Loan Terms
Personal Loan Amount $500 - $40000
Loan Term up to 72 months
APR Starting at 8.99%
Rate is quoted with autopay discount*

What fees does Consumers Credit loans charge?

Does Consumers Credit loans charge an origination fee?

Consumers Credit loans may charge a personal loan origination fee.

Does Consumers Credit loans charge a late fee?

Yes, Consumers Credit loans may charge borrowers a late payment fee if you miss one of the monthly payments of up to $29.

Does Consumers Credit loans charge prepayment fees?

No, Consumers Credit loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.

Consumers Credit loans Fees
Origination Fee No
Prepayment Fee No
Late Payment Fee $29

What do you need to qualify for Consumers Credit Union Personal Loan?

Applicants with a credit score of at least 700 and up to 840 may be eligible for Consumers Credit Union Personal Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

To qualify for personal loans with Consumers Credit Union Personal Loan, applicants need a minimum annual income of $6,000 or higher. Consumers Credit Union Personal Loan only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Consumers Credit Union Personal Loan. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Consumers Credit Union Personal Loan.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Government issued photo ID
  • Proof of identity
Consumers Credit loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Cosigners
Credit Score 700 - 840

Does Consumers Credit Union Personal Loan report your account activity to credit bureaus?

Yes, Consumers Credit Union Personal Loan reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

Are Consumers Credit Union Personal Loan legit?

Consumers Credit Union was founded in 1930, it is a well-established company that has been in business for 93 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $29
No Interest Grace Period for Late Payment 10 days
No Prepayment Fee
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Annual Income $6,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Credit Score Range 700 - 840
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Automatic Payments
  • Check by mail
  • Storefront
  • Cash
  • Bank Transfer
APR Type Fixed APR
Loan Amount $500 - $40,000
APR (Fixed APR) Starting at 8.99%
(Verified 08/04/2023)
Loan Term Up to 72 months

Consumers Credit Union Personal Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +50, equating to 4 on a 5 point rating scale.

+50

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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