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  Consumers Credit Union Personal Loan

Consumers Credit Union Personal Loan

in Personal Loans from Consumers Credit Union

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Consumers Credit Union Personal Loan

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in Personal Loans from Consumers Credit Union

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

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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Highlights
Community Rating

Rating not yet determined  

APR  (Fixed APR) Starting at 8.99%
Loan Amount $500 - $40,000
Loan Term (Months) Up to 72 months

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.
  • Hard credit pull required. You can't check your rates or see if you prequalify for Consumers Credit Union Personal Loan without a hard pull on your credit report. Most lenders give you the option of a soft pull on you credit report.
  • 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 Union Personal Loan 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 Union Personal Loan FAQ

What rates and terms does Consumers Credit Union Personal Loan offer?

What APR rate does Consumers Credit Union Personal Loan offer?

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

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

How much can you borrow via Consumers Credit Union Personal Loan?

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

What can a personal loan from Consumers Credit Union Personal Loan be used for?

Personal loans from Consumers Credit Union Personal Loan are typically used for special purchases or similar purposes.

What is the maximum loan term you can get with Consumers Credit Union Personal Loan?

Consumers Credit Union Personal Loan offers personal loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

Consumers Credit Union Personal Loan Rates & Terms
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 Union Personal Loan charge?

Does Consumers Credit Union Personal Loan charge an origination fee?

Consumers Credit Union Personal Loan may charge a loan origination fee.

Does Consumers Credit Union Personal Loan charge a late fee?

Yes, Consumers Credit Union Personal Loan may charge borrowers a late payment fee of up to $29.

Does Consumers Credit Union Personal Loan charge prepayment fees?

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

Consumers Credit Union Personal Loan Fees
Origination Fee N/A
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 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 Union Personal Loan 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.

    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
    • Washington, DC
    • 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
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    No Interest Grace Period for Late Payment 10 days
    No Prepayment Fee  
    Late Fee Amount $29
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Retired
    • Self-Employed
    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
    • Recent Pay Stubs
    • Proof of Income
    • Proof of Identity
    • Government Issued Photo ID
    • Social Security Number
    • Driver License (or other photo ID)
    Credit Score Range 700 - 840
    Credit Bureau Reporting
    • Experian
    • Equifax
    • TransUnion
    Joint Loans Available  
    Payment Options
    • Automatic Payments
    • Check by mail
    • Storefront
    • Bank Transfer
    • Cash
    Loan Amount $500 - $40,000
    APR (Fixed APR) Starting at 8.99%
    Loan Term Up to 72 months

    Consumers Credit Union Personal Loan Community Reviews

     

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    SUPERMONEY NET RECOMMENDATION SCORE

    +100%

    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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