Consumers Credit Union Personal Loan

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 Union Personal Loan is available in 50 states (and Washington, DC).

Key Takeaways

• APRs starting at 8.99%. Rate is quoted with autopay discount*. These are average starting rates for a personal loan. If you have good credit you may qualify for a loan with better rates.
• 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. Do 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 fees does Consumers Credit loans charge?

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 are, of course, eligible for the services offered by Consumers Credit Union Personal Loan. Permanent resident / green card holders are also eligible to apply.

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.

Is Consumers Credit Union a legit company?

Consumers Credit Union was founded in 1930, it is a well-established company that has been in business for 92 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.