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Consumers Credit Union personal loans review

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Consumers Credit Union personal loans
Finder score
Max. Loan Amount
Starting at 11.99%
Min. credit score

Our verdict

While loan amounts start low, interest rates are relatively high.

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 .


  • Become a member when you apply
  • Autopay discount
  • Accepts co-applicants
  • Online application
  • No prepayment penalty

In this guide

  • Our verdict
  • Details
    • Product details
    • Contact info
  • Your reviews
  • Ask an expert'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.


Product details

Min. Loan Amount $500
Loan Amount $40,000
APR Starting at 11.99%
Interest Rate Type Fixed
Min. credit score 700
Late Fee $29
Loan term Up to 6 years

Contact info

Phone number 877-275-2228
Customer service hours 9 a.m. – 5 p.m. CT, Monday through Thursday
9 a.m. – 6 p.m. CT, Fridays
9 a.m. – 1 p.m. CT, Saturdays

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.

Pros and Cons


  • 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

1 - 6 of 6
Name Product Filter Values APR Min. credit score Loan amount
Best Egg personal loans
Finder Rating: 3.8 / 5: ★★★★★
Best Egg personal loans
8.99% to 35.99%
$2,000 to $50,000
Fast and easy personal loan application process. See options first without affecting your credit score.
LightStream personal loans
Finder Rating: 4.8 / 5: ★★★★★
LightStream personal loans
7.49% to 25.49%
Good to excellent credit
$5,000 to $100,000
Borrow up to $100,000 with low rates and no fees.
PenFed Credit Union personal loans
Finder Rating: 3.6 / 5: ★★★★★
PenFed Credit Union personal loans
7.99% to 17.99%
$600 to $50,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Upstart personal loans
Finder Rating: 4.2 / 5: ★★★★★
Upstart personal loans
6.40% to 35.99%
$1,000 to $50,000
This service looks beyond your credit score to get you a competitive-rate personal loan.
Credible personal loans
Finder Rating: 4.3 / 5: ★★★★★
Credible personal loans
4.60% to 35.99%
Fair to excellent credit
$600 to $100,000
Get personalized prequalified rates in minutes and then choose an offer from a selection of top online lenders.
First Premier Lending
Not rated yet
First Premier Lending
5.99% to 35.99%
All credit types
$100 to $20,000
Short-Term Loans to Fit Your Needs

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.

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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