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Kindred Credit Union personal loans and lines of credit review

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Edited by Leanne Escobal
Kindred Credit Union Personal Loan
3.0
★★★★★
Finder score
APR Range
7.20% - 16.20%
Loan Amount
$5,000 - $35,000
Loan Term
1 - 5 years
All information about Kindred Credit Union Personal Loan has been collected independently by Finder. Finder is not connected with Kindred Credit Union products, and this page is not sponsored, endorsed or administered by, or associated with, Kindred Credit Union. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Get a competitive rate on a personal loan or line of credit, but only if you have good to excellent credit.

Kindred Credit Union offers personal loans and lines of credit to residents of Ontario. You can choose from a fixed or variable interest rate depending on your needs, and you'll get a competitive rate provided your credit score is in good shape. Loan terms of up to 5 years are available, while a line of credit provides flexible access to funds as needed.

But you must have a solid credit score to qualify, so borrowers with bad credit will need to consider other options.

Best for: People with good to excellent credit.

Pros

  • Competitive rates
  • Choose from a fixed or variable rate
  • Pre-approval available

Cons

  • Ontario only
  • Bad credit not accepted
  • You need to book an appointment to apply

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Kindred Credit Union?

Kindred Credit Union is a member-owned financial cooperative headquartered in Kitchener, Ontario. It offers a wide range of personal banking products and services to its members, including chequing and savings accounts, credit cards, mortgages, personal loans and investments. Kindred Credit Union also provides an online banking platform and mobile app.

Is Kindred Credit Union legit?

Kindred Credit Union was founded in 1964 as the Waterloo County Mennonite Credit Union. Known as Kindred Credit Union since 2016, it operates 8 branches across Ontario and has over 27,000 members.

Finder Awards

In 2023, we completed the Finder: Personal Loan Consumer Satisfaction Awards — an annual ranking of personal loan providers in Canada based on customer satisfaction feedback. In 2024, we completed the Finder: Personal Loans Best-in-Class Awards, which recognizes the best personal loan brands in Canada based on our data-driven methodology.
Highly Commended, Finder Awards 2024, Traditional Lender

Finalist: Best-in-Class

Kindred Credit Union was a finalist in the Best Personal Loan Traditional Lender (Provincial) category in the Finder: Personal Loans Best-in-Class Awards 2024.

Full list of 2024 winners

Features of Kindred loans

FeaturePersonal loanPersonal line of credit
Loan amountNot specifiedNot specified
Loan term1 - 5 yearsOpen
APR7.20% - 13.60% (fixed)8.20% - 16.20% (variable)Varies
Serviced provincesOntarioOntario
Eligibility requirementsValid recurring incomeValid recurring income

What are the interest rates for Kindred loans and lines of credit?

The interest rate on a fixed-rate personal loan from Kindred Credit Union ranges from 7.20% - 13.60%. If you apply for a variable-rate loan, the minimum rate is the Kindred prime rate plus 1% and the maximum rate is the Kindred prime rate plus 9%. The current prime rate is 7.2%. Your rate depends on your personal financial situation.

Line of credit interest rates are not listed on the Kindred website. The rate you get will vary depending on factors such as your credit score, income and history with Kindred Credit Union.

What we like about Kindred Credit Union loans

  • Competitive rates. Kindred offers competitive personal loan interest rates starting at 7.2%. Learn more about low interest loans.
  • Fixed or variable rate. Choose between the security of a fixed interest rate and the flexibility of a variable rate.
  • Get pre-approved. Kindred Credit Union offers personal loan pre-approval, allowing you to get a better idea of the loan amount and rate you could qualify for before you apply for a loan.
  • Flexible. Lines of credit from Kindred Credit Union are revolving, which means you can access funds up to a pre-approved credit limit as needed.

What to watch out for

  • No online application. You can’t fill out an online form to apply for a Kindred Credit Union loan. You will instead need to schedule an in-person, video or phone appointment with a Kindred representative.
  • Bad credit not accepted. You’ll likely need to have good to excellent credit to qualify for a loan. Learn more about the best bad credit loans.
  • Ontario only. You must be a resident of Ontario to become a Kindred member.

Alternatives to Kindred Credit Union personal loans

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Finder Score:
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Customer Survey:
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Loans Canada Personal Loan
Finder Score:
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Requirements: min. credit score 300
LoanConnect Personal Loan
Finder Score:
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easyfinancial Personal Loan
Finder Score:
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AimFinance Personal Loan
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Mogo Personal Loan
Finder Score:
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Customer Survey:
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Requirements: min. income $35,000/year, min. credit score 600
SkyCap Financial Personal Loan
Finder Score:
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Customer Survey:
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Requirements: min. income $1,666.67/month, full time employment/pension, min. credit score 575, no bankruptcy
goPeer Personal Loan
Finder Score:
★★★★★
8.99% - 34.99%
$1,000 - $35,000
36 - 60 months
Requirements: recommended income $35,000/year, no payday loan debt, min. credit score 600, min. 5-year credit history. (Avg. approved rate of 15.80%)
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What do Kindred reviews have to say?

Kindred Credit Union reviews vary from one branch to another but are generally positive. Those who left positive reviews commented on factors like friendly and helpful customer service and Kindred’s contribution to community initiatives.

Summary of Kindred reviews

FeatureDetails
TrustpilotNo Kindred Credit Union reviews available
GoogleReview score varies between branches
BBB accreditationNo Kindred Credit Union reviews available
BBB ratingN/A
BBB reviewsNo Kindred Credit Union reviews available
Reviews as ofMarch 4, 2024

What are Kindred Credit Union’s loans?

There are two main types of loan you can apply for through Kindred Credit Union:

  • Personal loan. Kindred personal loans provide access to a lump sum you can use for just about any purpose. Choose a fixed or variable interest rate, and terms range from 1 - 5 years. Personal loan pre-approval is available, and you can set up pre-authorized payments to repay your loan.
  • Personal line of credit. Kindred provides access to a revolving line of credit whenever you need funds to pay for unexpected bills or large expenses. The amount of credit you can access depends on factors such as your credit score and income.

Other loans offered by Kindred include student loans, HELOCs and affordable housing loans.

Can I use a Kindred Credit Union personal loan for debt consolidation?

Yes. You can use a Kindred Credit Union personal loan for just about any purpose, including debt consolidation. You can use a personal loan to consolidate multiple unsecured debts with high interest payments into a loan with a lower rate and a single monthly payment.

Can I get Kindred loans with bad credit?

You typically need good to excellent credit to qualify for a loan from Kindred Credit Union. Like other traditional lenders, Kindred doesn’t offer loans to bad credit borrowers. So if your credit score isn’t in great shape, you may need to consider a lender that offers bad credit personal loans.

Eligibility requirements of Kindred loans

Kindred Credit Union doesn’t list any specific loan eligibility requirements online. However, you generally need to meet the following criteria to qualify for a credit union loan:

  • Be 18 years of age or older
  • Be a Canadian citizen or permanent resident
  • Have a good to excellent credit score
  • Earn a steady income

How to get a Kindred Credit Union loan

You can apply for a Kindred Credit Union loan in one of two ways:

  • Visit your nearest branch, or
  • Book an appointment to speak with a Kindred lending specialist in-person, over the phone or via video chat

Bottom line

If you have good credit, live in Ontario and want a personal loan or line of credit, Kindred Credit Union is a competitive option. Compare Kindred with loans from other lenders before deciding where to apply.

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