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finder.com’s rating: 3.8 / 5.0
★★★★★
$40,000
Max. Loan Amount
Starting at 11.49%
APR
700
Min. Credit Score
Product Name | Consumers Credit Union personal loans |
---|---|
Min. Loan Amount | $500 |
Max. Loan Amount | $40,000 |
APR | Starting at 11.49% |
Interest Rate Type | Fixed |
Min. Credit Score | 700 |
Late Fee | $29 |
Loan Term | Up to 6 years |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Consumers Credit Union’s personal loans might be a good option if you need to borrow small amounts or want to apply with a cosigner. It’s one of the few credit unions to offer membership to residents of all 50 states by paying a small $5 membership fee. And you don’t need to be a member before applying.
However, its rates start a lot higher than the competition — even if it does offer a 0.5% autopay discount. And it requires five personal references — among several other documents — after submitting your application.
Not sold on Consumers Credit Union? Compare other options below.
To qualify for a Signature Loan from Consumers Credit Union, you must meet a few basic requirements:
To become a member of Consumer Credit Union, you simply need to become a member of the Consumers Cooperative Association by paying a one-time $5 membership fee at the end of your loan application.
To make the application process quick, have the following information on hand:
After you submit your application, a Consumers Credit Union representative will get in touch within 24 hours to complete the process. At this point, they’ll ask you to provide proof of income, proof of residence, recent tax returns and five personal references.
More about Consumers Credit Union loans
Now that you have your loan, consider signing up for autopay. You’ll not only score a discount on your interest rate, but you won’t have to worry about getting slapped with a $29 late fee. Keep an eye on your loan balance and bank account. If you have questions, reach out to customer service at 877-275-2228.
To compare more lenders and learn how personal financing works, read our personal loans guide.
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★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top personal loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews, loan amounts, loan processing and borrower experience.
Read the full methodology of how we rate personal loan providers.