CoVantage CU Personal Loans
CoVantage CU Personal Loans
in Personal Loans from CoVantage Credit Union

CoVantage CU Personal Loans

in Personal Loans from CoVantage Credit Union
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APR  (Variable APR) 11.490% - 12.490%
(Verified 08/04/2023)
Loan Amount N/A
Loan Term (Months) Up to 60 months

CoVantage CU Personal Loans Review

CoVantage CU Personal Loans is offered by CoVantage Credit Union, a credit union founded in 1953 and based in Antigo, WI. CoVantage Personal Loans are available in 3 states across the USA.

Key Takeaways

  • Uses a variable APR. This is uncommon for personal loans. If interest rates rise in the future it could make the monthly payments more challenging. Personal loan interest rates typically range between 5% and 36%. The starting rates for CoVantage CU Personal Loans are on the higher end of the market.
  • Charges a prepayment fee. This is rare for personal loans. It means you will have to pay a fee if you pay off your CoVantage CU Personal Loans early.

CoVantage Personal Loans Pros & Cons

Pros Cons
  • Charges an origination fee.
  • Does not offer pre-approval with soft credit pull.
  • Charges prepayment fees.
  • Charges a late fee

CoVantage Personal Loans FAQ

What interest rates and personal loan terms does CoVantage Personal Loans offer?

CoVantage Personal Loans has higher than average interest rates for lenders reviewed on SuperMoney.

What interest rates does CoVantage Personal Loans offer?

CoVantage Personal Loans offers a variable APR personal loan product that ranges from 11.490% APR up to 12.490% APR.

What is the maximum loan term you can get with CoVantage Personal Loans?

CoVantage Personal Loans offers loans with terms of up to 60 months.

CoVantage Personal Loans Interest Rates & Loan Terms
Personal Loan Amount N/A
Loan Term up to 60 months
APR 11.490% - 12.490%

What fees does CoVantage Personal Loans charge?

Does CoVantage Personal Loans charge an origination fee?

CoVantage Personal Loans may charge a personal loan origination fee.

Does CoVantage Personal Loans charge a late fee?

No, CoVantage Personal Loans will not charge you a late fee if you miss one of the monthly payments.

Does CoVantage Personal Loans charge prepayment fees?

No, CoVantage Personal 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.

CoVantage Personal Loans Fees
Origination Fee No
Prepayment Fee N/A
Late Payment Fee No

What do you need to qualify for CoVantage CU Personal Loans?

CoVantage CU Personal Loans does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

CoVantage CU Personal Loans does not have or does not disclose a minimum annual income eligibility requirement. CoVantage CU Personal Loans only considers borrowers who are employed.

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 CoVantage CU Personal Loans. 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 CoVantage CU Personal Loans.

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

  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit
CoVantage Personal Loans Eligibility Criteria
Minimum Age 18
Bank Account Required? No
Application Types Accepted
  • Individual Applications
Credit Score N/A

Does CoVantage CU Personal Loans report your account activity to credit bureaus?

Yes, CoVantage CU Personal Loans 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 CoVantage CU Personal Loans legit?

CoVantage Credit Union was founded in 1953, it is a well-established company that has been in business for 70 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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  Available in 3 states
  • Illinois
  • Michigan
  • Wisconsin

Feature Breakdown

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
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Cash
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Social Security Number
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Options
  • Credit/Debit Card
  • Bank Transfer
APR Type Variable APR
APR (Variable APR) 11.490% - 12.490%
(Verified 08/04/2023)
Loan Term Up to 60 months

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