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  Credit Union 1 Secured Loans
Credit Union 1 Secured Loans
in Personal Loans from Credit Union 1
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Credit Union 1 Secured Loans

Unaffiliated
in Personal Loans from Credit Union 1
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Highlights
APR  (Fixed APR) Starting at 6%
(Verified 10/20/2022)
Loan Amount $1,000 - $48,000
Loan Term (Months) Starting at 12 months

Credit Union 1 Secured Loans Review

Credit Union 1 Secured Loans is offered by Credit Union 1, a credit union founded in 1958 and based in Henderson, NV. Credit Union 1 Secured Loans are available in 50 states (and Washington, DC).

Key Takeaways

  • APRs starting at 6%. Personal loan interest rates typically range between 5% and 36%. The starting rates for Credit Union 1 Secured Loans are on the lower end of the spectrum.
  • Large loan amounts. You can apply for loan amounts of up to $48,000 with Credit Union 1 Secured Loans.
  • No origination fee. Credit Union 1 Secured Loans does not charge a loan origination fee.
  • Coborrower applications accepted. Applying for Credit Union 1 Secured Loans with a coborrower who has better credit than you could improve your chances of approval and may help you qualify for lower interest rates.

Credit Union 1 Secured Loans Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • $0 prepayment fee.
  • Loan options with $0 origination fee.
  • Accepts coborrowers.
  • Do not offer pre-approval with soft credit pull.
  • Credit Union 1 Secured Loans does not report to credit bureaus.
  • Charges a late fee.

Credit Union 1 Secured Loans FAQ

What interest rates and personal loan terms does Credit Union 1 Secured Loans offer?

Credit Union 1 Secured Loans has lower than average interest rates for lenders reviewed on SuperMoney.

What interest rates does Credit Union 1 Secured Loans offer?

Credit Union 1 Secured Loans offers a fixed APR personal loan product that starts at 6% APR.

How much can you borrow via Credit Union 1 Secured Loans?

Personal loan amounts start at $1,000 and go up to $48,000.

Credit Union 1 Secured Loans Interest Rates & Loan Terms
Personal Loan Amount $1000 - $48000
Loan Term Starting at 12 months
APR Starting at 6%

What fees does Credit Union 1 Secured Loans charge?

Does Credit Union 1 Secured Loans charge an origination fee?

Credit Union 1 Secured Loans does not charge a personal loan origination fee.

A personal loan origination fee is what some lenders charge for processing, underwriting, and funding a personal loan. Typically origination fees range from 0.5% to 5% of the personal loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Credit Union 1 Secured Loans charge a late fee?

No, Credit Union 1 Secured Loans will not charge you a late fee if you miss one of the monthly payments.

Does Credit Union 1 Secured Loans charge prepayment fees?

No, Credit Union 1 Secured 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.

Credit Union 1 Secured Loans Fees
Origination Fee No
Prepayment Fee No
Late Payment Fee No

What do you need to qualify for Credit Union 1 Secured Loans?

Credit Union 1 Secured Loans does not require or does not disclose a credit score minimum.

Credit Union 1 Secured Loans does not have or does not disclose a minimum annual income eligibility requirement. Credit Union 1 Secured Loans only considers borrowers who are employed. Note that borrowers can add a co-borrower 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 Credit Union 1 Secured 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 Credit Union 1 Secured Loans.

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

  • Proof of income
  • Proof of identity
  • Proof of residence
Credit Union 1 Secured Loans Eligibility Criteria
Minimum Age N/A
Bank Account Required? No
Application Types Accepted
  • Co-borrowers
  • Individual Applications
  • Credit Score N/A

    Is Credit Union 1 a legit company?

    Credit Union 1 was founded in 1958, it is a well-established company that has been in business for 65 years.

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

    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.

    Message From Credit Union 1 Secured Loans

    >A Great Option for First-time Borrowers, and to Build Credit Finding the right loan for your needs is our top priority at Credit Union 1. By using your funds on deposit with us as collateral, such as money in your Savings Account or Share Certificate (CD), a Secured Loan can be a great option. A Credit Union 1 Secured Loan offers lower interest rates and is a great option for building your credit or making a purchase without dipping into your savings.

    We allow you to use your money in a Savings or CD with us, as security to borrow at just 3% - 6% above your earnings rate1. Your savings will grow because it continues to earn dividends, and when the loan is paid off, you still have your nest egg.

    From CreditUnion1.org

    Contact

    Hours of Operation

    • Sunday Closed
    • Monday 9:00am - 5:00pm
    • Tuesday 9:00am - 5:00pm
    • Wednesday 9:00am - 5:00pm
    • Thursday 9:00am - 5:00pm
    • Friday 9:00am - 5:00pm
    • Saturday Closed

    About Credit Union 1 Secured Loans

    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

    No Origination Fee
    No Prepayment Fee
    Accepts Savings Accounts
    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
    • Co-borrower
    • Individual Applications
    Military Status
    • Active Duty Military
    • Non-Military
    • Veterans
    • Military Dependent
    Supported Income Types
    • Direct Deposit (W2, SSA, SSDI)
    • Cash
    • Payroll Check or Prepaid Card
    • 1099 Misc. Income
    Verification Documents Required
    • Proof of Income
    • Proof of Identity
    • Proof of Residence
    APR Type Fixed APR
    Loan Amount $1,000 - $48,000
    APR (Fixed APR) Starting at 6%
    (Verified 10/20/2022)
    Loan Term Starting at 12 months

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