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Consumers Credit Union personal loans review

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While loan amounts start low, interest rates are relatively high.’s rating: 3.8 / 5.0


  • Best for borrowers looking for a small-dollar loan from a federal credit union.
  • Pick something else if you have excellent credit — you can likely get lower rates elsewhere.


Max. Loan Amount

Starting at 11.49%



Min. Credit Score


Product NameConsumers Credit Union personal loans
Min. Loan Amount$500
Max. Loan Amount$40,000
APRStarting at 11.49%
Interest Rate TypeFixed
Min. Credit Score700
Late Fee$29
Loan TermUp to 6 years

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 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.

Expert review

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.

First, am I eligible?

To qualify for a Signature Loan from Consumers Credit Union, you must meet a few basic requirements:

  • Be the age of majority in your state.
  • Have good credit.
  • Be willing to become a member.
Consumers Credit Union might also consider other factors like your income and monthly debt obligations when you apply. For any personal loan, you’ll also need to show that you can afford repayments.

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.


  • Existing membership not required to apply
  • Autopay discount of up to 0.5%
  • Coapplicants accepted
  • Available in all 50 states


  • High starting rates
  • Disorganized website
  • Requires five personal references

Compare other personal loan providers

Data indicated here is updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Credible personal loans
4.99% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
SoFi personal loans
5.99% to 18.83%
A highly-rated lender with competitive rates, high loan amounts and no fees.
Upstart personal loans
8.69% to 35.99%
580 or 600 depending on state of residence
This service looks beyond your credit score to get you a competitive-rate personal loan.
LendingTree personal loans
Starting from 3.99%
Good to excellent credit
Receive up to five loan offers in just minutes through LendingTree's simple online form.
NetCredit personal loans
34% to 155%
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.

Compare up to 4 providers

How do I apply?

You can apply online by following these steps:

  1. Go to the Consumers Credit Union Website and click Loans in the main navigation bar.
  2. Select Personal Loans.
  3. Scroll down and click Loan Application.
  4. Fill in your basic personal information, then click Next.
  5. Select the type of loan you want, the loan amount, how much you can afford to repay each month and the number of applicants. Click Next.
  6. Add in more personal details, including your birthday and Social Security number. Click Next.
  7. Answer questions about your employment and provide any additional info you’d like Consumers Credit Union to know about. Click Submit.

What information do I need to apply?

To make the application process quick, have the following information on hand:

  • Social Security number
  • Gross monthly income
  • Employer contact information

What happens after I apply?

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

How do repayments work with Consumers Credit Union?

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.

Frequently asked questions

Personal loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — 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.

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