Best Credit Union Personal Loans Of 2025

Best for Veterans & Military Members

USAA

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

USAA does not disclose this information

APR range

10.14% to 18.51%

with autopay

Loan amounts

$1,000 to $100,000

Learn More

Read Our Review

USAA does not disclose this information

10.14% to 18.51%

with autopay

$1,000 to $100,000

Editor’s Take

USAA is a full-service institution that offers insurance, banking and investing, making it a one-stop shop for veterans and military members who prefer to open loans and bank accounts under one bank. The opportunity to manage both your loans and cash with one bank can help you streamline your money and make your life easier.

USAA offers personal loans from $1,000 to $100,000 with repayment terms of up to 84 months. Rates range from 10.14% to 18.51%, which includes a 0.25% autopay discount; the lowest rates are reserved for members and applicants with the highest credit scores.

Not only can you open various banking products and services with USAA, but it also provides advice. USAA will help you prepare for major life events, both big and small. As a member, you have the opportunity to receive financial advice, helping you take control of your spending and saving.

Pros & Cons

• No prepayment fees
• Autopay discount available
• Offers a variety of banking products and financial advice

• Funds only dispersed Monday through Friday
• 5% late fee
• Smaller loan limits than other lenders that cater to veterans

Details

Eligibility: You must be a member of USAA to apply. Membership is available to U.S. military members and their spouses, as well as children of USAA members. Precommissioned officers, including cadets, midshipman and officer candidates, also are eligible for membership.

You can become a USAA member online, and you also can apply for a loan online. USAA doesn’t have a minimum credit score requirement, but members with higher scores can qualify more easily and receive more favorable terms. We recommend a minimum score of 670.

Loan uses: You can use USAA personal loans for various personal expenses, including bills, remodels, repairs and unexpected expenses. Personal loans are typically flexible to meet your needs. However, you can’t use USAA personal loans to finance higher education expenses or to purchase a home.

Turnaround time: USAA provides a quick and easy online application. Once approved, funds are dispersed within 24 hours through a direct deposit into a USAA bank account (Monday through Friday only).

Best for Fast Turnaround

Alliant Credit Union

4.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

640

APR range

As low as 8.99%

Loan amounts

$1,000 to $100,000

Learn More

Read Our Full Review

640

As low as 8.99%

$1,000 to $100,000

Editor’s Take

Alliant Credit Union has been in operation since 1935, and since then, has grown to over 700,000 members. As an online lender, it offers a range of products and stands out for its personal loans, which are made available to borrowers with low credit.

Alliant’s personal loans come with quick decision and funding times, although they do come with higher rates than some competitors. Rates range from As low as 8.99% the lower range applies to one- and two-year loans, and the higher range on the four- and five-year loans. Loan amounts range from $1,000 to $100,000 with available loan terms of one, two, four or five years.

To qualify for a loan from Alliant, you’ll need to be a member and have a savings account through the credit union. Although Alliant doesn’t have any physical branches, customer service representatives are available 24/7.

Pros & Cons

• Available to borrowers with low credit scores
• Quick funding times
• No origination or prepayment fees

• High interest rates
• Membership requirements
• Hard credit inquiry needed to check your rate

Details

Eligibility: In order to be eligible to join Alliant Credit Union, you have to meet their eligibility criteria. You can join the credit union if you:

• Are a current or retired employee from one of the businesses Alliant is partnered with
• Are related to a current member
• Live or work in one of the communities near their headquarters in Chicago

Loan Uses: Alliant’s personal loan can be used for a range of purposes, including loan consolidation, emergency expenses or home improvement.

Turnaround time: Alliant’s personal loans have a quick turnaround time. It can typically fund loans on the same day as approval, according to Alliant.

Best for Members of The Armed Forces

Navy Federal Credit Union

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

No requirement

APR range

8.99% to 18%

Loan amounts

$250 to $50,000

Compare Rates

Via MoneyLion’s Website

No requirement

8.99% to 18%

$250 to $50,000

Editor’s Take

Since 1933, Navy Federal has grown from seven members to over 10 million, making it one of the most common credit unions for veterans or members of the armed forces. Not only that, but it also aims to “be the most preferred and trusted financial institution serving the military and their families.” Its reputation in the market and excellent products makes for an easy decision to include it as one of the institutions to find the best personal loans for veterans.

Navy Federal offers personal loans from $250 to $50,000, making it the lender with the smallest minimum loan limit. Loan limits of this range give veterans the ability to finance purchases of all different sizes. What’s more, repayment terms of up to 60 months are available. Applying for a loan with shorter repayment terms, however, will save you money on interest over the life of your loan.

Navy Federal personal loans have interest rates from 8.99% to 18%. The lowest of the range, is reserved only for loans with terms of up to 36 months and applicants with excellent credit. Active duty members also can receive a 0.25% autopay discount; however, non-active duty members cannot receive this perk.

Pros & Cons

• No prepayment penalties
• 0.25% autopay discounts for active duty members
• Same-day funding

• $29 late fee applied when you’re 10 days past due
• No autopay discounts for non-active duty personnel
• Lowest APR applies only to loans with terms of up to 36 months

Details

Eligibility: You must be a member of Navy Federal to apply. To become a member, you or one of your family or household members must have ties to the armed forces, Department of Defense or National Guard. Members can apply online. Navy Federal does not have a minimum credit score requirement; however, borrowers with higher credit scores have a better chance of qualifying and receiving favorable terms. We recommend a minimum score of 670.

Loan uses: You can use Navy Federal personal loans for unplanned and planned expenses, including auto repairs, vacations and other major purchases; you cannot use them for higher education or to purchase a home. If you need to consolidate debt or finance a home improvement project, Navy Federal has personal loans designed specifically for those expenses.

Turnaround time: Navy Federal offers a simple online application process and different fund disbursement methods. The quickest way to receive your funds is through an automatic deposit, which you can receive immediately after approval.

Best for Low Interest

First Tech Federal Credit Union

3.5

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

Does not disclose

APR range

As low as 8.79%

Loan amounts

$500 to $50,000

Compare Rates

Via MoneyLion’s Website

Does not disclose

As low as 8.79%

$500 to $50,000

Editor’s Take

First Tech Federal Credit Union is a financial institution that serves tech-oriented companies and their employees. Thanks to low interest rates and no application, origination or prepayment fees, First Tech’s personal loan is a good option for anyone who can join the credit union.

As low as 8.79% and loan amounts range from $500 to $50,000 . Terms range from two to seven years, and the interest rates and loan amounts vary depending on term length. Most loans can be funded the same day, but at most, First Tech may take two to three days to fund a loan.

Pros & Cons

• Low interest rates
• Lack of fees
• Soft credit check to see rates

• Membership requirements
• Few physical locations

Details

Eligibility: To become a member at First Tech Federal, you must have a family member who’s already a member, or you or a family member must work at one of First Tech’s partnered businesses. You may also work for the state of Oregon or work or live in Lane County, Oregon.

Loan uses: Personal loans from First Tech can be used for nearly any expense, including debt consolidation and emergency expenses.

Turnaround time: Personal loans from First Tech can be funded as quickly as the same day, but some may take two to three days.

Best for Small Loans

PenFed

3.0

Our ratings take into account loan cost, loan details, eligibility and accessibility, customer experience and application process. All ratings are determined solely by our editorial team.

Minimum Credit Score

Does not disclose

APR range

8.99% to 17.99%

Loan amounts

$600 to $50,000

Learn More

Via MoneyLion’s Website

Does not disclose

8.99% to 17.99%

$600 to $50,000

Editor’s Take

Although PenFed was originally created to serve U.S. military members and veterans, in addition to federal employees and retirees, it has expanded its membership to non-military members. PenFed has several federal partners, including the American Society of Military Comptrollers, Coast Guard Auxiliary Association, Navy League of the United States and United States Army Warrant Officers Association.

PenFed offers fixed-rate, low-interest loans that start $600 to $50,000. If you’re looking for a mix of low interest rates and high loan limits, PenFed may not be the choice for you; look toward LightStream for higher limits.

PenFed personal loans carry rates from 8.99% to 17.99%, based on your application and credit information. Applicants with higher credit scores can typically snag the lowest rates. What’s more, PenFed also boasts no title or deed requirements, no early payoff penalty and no origination or hidden fees. Although PenFed is located on the East Coast, borrowers will have around-the-clock access to their accounts through the PenFed mobile app.

Anyone can apply for a loan through PenFed; however, if you’re approved and choose to move forward with your loan, you’ll need to become a member of the credit union. Becoming a member is easy, and it typically only takes a few minutes. While the membership is free, you’ll need to make a deposit of at least $5 into a new PenFed savings account.

Consumer Sentiment Index

3.8

3.8/10

Consumer Score

The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.

Consumer Sentiment Index

546

How do we calculate

We gather and analyze consumer sentiment from a range of sources to create the Consumer Sentiment Index to determine customer satisfaction levels for each feature outlined below. This data is designed to give you an idea of real consumer experience of the services and product we review. This data is currently separate from our overall rating out of 5

Insights Analyzed

• # Interest Rates and APR

  For Interest Rates and APR

  • 61% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 31% of people had negative sentiments

  61%

  8%

  31%

  For Interest Rates and APR

  • 61% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 31% of people had negative sentiments
• # Customer Service

  For Customer Service

  • 22% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 70% of people had negative sentiments

  22%

  8%

  70%

  For Customer Service

  • 22% of people had positive sentiments
  • 8% of people had neutral sentiments
  • 70% of people had negative sentiments
• # Loan Terms and Flexibility

  For Loan Terms and Flexibility

  • 45% of people had positive sentiments
  • 34% of people had neutral sentiments
  • 21% of people had negative sentiments

  45%

  34%

  21%

  For Loan Terms and Flexibility

  • 45% of people had positive sentiments
  • 34% of people had neutral sentiments
  • 21% of people had negative sentiments
• # Ease of Approval and Process

  For Ease of Approval and Process

  • 67% of people had positive sentiments
  • 3% of people had neutral sentiments
  • 30% of people had negative sentiments

  67%

  3%

  30%

  For Ease of Approval and Process

  • 67% of people had positive sentiments
  • 3% of people had neutral sentiments
  • 30% of people had negative sentiments

PenFed personal loan borrowers gave the lender mixed reviews. Some appreciated the ease and speed of the application process, while others had issues with customer service, transparency and loan processing. Some borrowers also faced unexpected fees. 

Pros & Cons

• No origination or prepayment fees
• Prequalification with a soft credit check
• Allows for co-borrowers

• Doesn’t operate branches in all states
• Requires membership
• Charges late payment fee of $29

Details

Eligibility

• Minimum credit score. Does not disclose
• Minimum income. Does not disclose
• Co-borrowers. Permitted

Customer service

We called PenFed to evaluate its customer service team’s responsiveness and found it to be one of the most helpful and efficient experiences among lenders on our list. While we waited one minute and 15 seconds to connect with a rep, they provided complete transparency for each of our questions.

PenFed’s team disclosed essential loan details like loan amounts, available interest rates, required documentation and loan approval times. They also shared information about potential fees and payment assistance options if repayment becomes challenging. We are impressed with PenFed’s willingness to share this information with prospective borrowers, which can improve the overall loan experience.

Summary: Best Credit Union Personal Loans

USAA

4.0

Minimum Credit Score

USAA does not disclose this information

Apr Range

10.09% to 18.51% with autopay

Alliant Credit Union

4.0

Learn More

Read Our Full Review

Minimum Credit Score

640

Apr Range

Rates start at As low as 9.49%

Navy Federal Credit Union

4.0

Compare Rates

Via MoneyLion's Website

Minimum Credit Score

No requirement

Apr Range

8.99% to 18%

First Tech Federal Credit Union

3.5

Compare Rates

Via MoneyLion's Website

Minimum Credit Score

Does not disclose

Apr Range

As low as 8.64%

PenFed

3.0

Learn More

Via MoneyLion's Website

Minimum Credit Score

Does not disclose

Apr Range

As low as 8.99%

COMPANY	FORBES ADVISOR RATING	MINIMUM CREDIT SCORE	APR RANGE	LEARN MORE
USAA	4.0	USAA does not disclose this information	10.09% to 18.51% with autopay
Alliant Credit Union	4.0	640	Rates start at As low as 9.49%	Learn More Read Our Full Review
Navy Federal Credit Union	4.0	No requirement	8.99% to 18%	Compare Rates Via MoneyLion's Website
First Tech Federal Credit Union	3.5	Does not disclose	As low as 8.64%	Compare Rates Via MoneyLion's Website
PenFed	3.0	Does not disclose	As low as 8.99%	Learn More Via MoneyLion's Website

See More See Less

How a Credit Union Personal Loan Works

A personal loan from a credit union works like any other personal loan. You’ll borrow a fixed amount of money and repay it over a set period, with interest. Credit union personal loans often come with lower interest rates than those offered by traditional banks or online lenders.

On top of lower interest rates, credit union personal loans may also offer flexible repayment terms and lower fees, making it easier to manage your finances and pay off your loan on time.

How To Get a Personal Loan From a Credit Union

The application process for a personal loan can vary between credit unions, but you’ll generally take similar steps before you get a loan, including:

1. Evaluate your borrowing needs. Before applying for a personal loan, consider your borrowing needs. Calculate what costs you’ll need to cover with the loan so you don’t end up overborrowing, and use a personal loan calculator to understand how much you can afford to repay.
2. Find credit unions in your area. Start by researching credit unions in your area. Some credit unions restrict who can become a member, so evaluate each financial institution’s eligibility requirements before choosing a lender. You’ll typically need to become a member at the credit union you choose before you can apply for a loan.
3. Compare interest rates and fees. Once you narrow down your options, compare each credit union’s interest rates and fees. Look for terms that fit your budget and repayment goals. If possible, prequalify to see what interest rate and terms you’re likely to qualify for with impacting your credit score.
4. Gather documents and fill out an application. Many credit unions require information such as bank statements, tax returns and proof of income to apply for a loan. After compiling the necessary documents, complete an online or paper loan application.
5. Submit documents for review. Submit the required documentation for the loan and provide any additional documentation the credit union requests. Quickly responding to requests from your loan officer quickly can keep the borrowing process on schedule.
6. Wait for approval. When your application is complete, the credit union will review your application and make a decision.
7. Sign paperwork and receive funds. Once approved, sign the loan agreement and other necessary documents. Funding times vary, but the lender may deposit funds into your account within two business days after approval.

How Long Does It Take To Get a Personal Loan From a Credit Union?

You’ll typically receive your loan from a credit union anywhere between a few days to a few weeks, but it can depend on several factors. The credit union’s application process and requirements can impact how long it takes to get funding.

Your own credit history and financial situation can also impact how long the approval and funding process takes. If you need money quickly, research and compare various credit unions to find the best fit for your needs and timeline.

Tips for Comparing Personal Loans From Credit Unions

Credit unions often tailor their financial products to specific groups or geographic areas. However, choosing the most competitive option that meets your needs can be difficult. When you need to compare personal loans from credit unions, follow these tips:

• Compare annual percentage rates (APRs) because it consists of both the interest rate and any fees.
• Review the repayment terms for each loan to understand how much you’ll pay in interest over the life of the loan.
• Account for costs associated with the loan, such as processing fees or early repayment charges.
• Check if there are member discounts or other loyalty programs.
• Consider additional benefits like overdraft protection or rewards.
• Read customer reviews to learn about customer service and loan offerings.
• Ask questions to fully understand how the loan process works.
• Ensure you’re comfortable with the loan before committing to terms.

Credit Unions vs. Banks

Although both offer personal loans to consumers, there are key differences between credit unions and banks.

Because credit unions are not-for-profit, they’re less concerned about revenue than for-profit banks. As a result, credit unions typically offer loans with lower interest rates than banks. They’re also more likely to work with you if you have bad or limited credit than a traditional bank.

Credit unions are often tailored to specific groups or geographic regions and can give their members unique benefits, such as loyalty programs or one-on-one financial counseling. They can also offer more personalized service than banks.

Traditional banks often offer a more comprehensive range of products and services than credit unions and typically have more physical branches and ATM locations. Banks can also have more robust and user-friendly mobile banking options, including mobile apps, whereas credit unions often lack this functionality.

Credit unions can be a great option if you want access to competitive interest rates, need flexible repayment terms or want a more personalized experience. Depending on the financial institution, banks may offer higher loan amounts and may be a better option if you want access to more banking tools and resources.

Alternatives to Credit Union Personal Loans

If you aren’t eligible for a personal loan from a credit union, there are other options available. Whether you consider a traditional bank loan or payday loan, it’s essential to understand each option thoroughly before taking the debt on.

Traditional Term Loans

A traditional bank term loan is a fixed-rate loan typically offered by commercial banks or large financial institutions. The best personal loans typically have repayment terms comparable to those available from credit unions (up to seven years) and are unsecured.

That said, some traditional loans come with higher interest rates than credit union personal loans—generally between 4% and 36%—and more fees. Consider a bank loan over a credit union loan if you need higher borrowing limits or otherwise prefer a more traditional borrowing experience.

Online Personal Loans

An online personal loan is similar to a traditional personal loan, except the lender handles the application and funding processes digitally. Online lenders often have more flexible qualification standards, and they can typically disburse loan funds quicklier than a credit union.

If you need fast access to cash with minimal hassle, an online personal loan may be the best option. However, a credit union personal loan is often better if you prefer a more personal touch and the ability to establish a relationship with a lender.

Home Equity Loans or HELOCs

Home equity loans and home equity lines of credit (HELOCs) are two ways to borrow money by accessing the equity in your home. A home equity loan is a lump sum of money borrowed against the equity in your home; a HELOC is a line of credit that allows you to borrow against your home equity as needed, up to a certain amount.

Both of these loan options are secured by your home, which means if you fail to repay the loan, the lender can take possession of your house. That also means they often have lower interest rates than a personal loan from a credit union.

These options are best if you have significant home equity and need access to a large sum of money for expenses like home improvements, medical bills or debt consolidation. If you’re concerned about your ability to repay these loans over the entire term or you don’t own a home, a personal loan from a credit union might be a better option.

Credit Cards

Credit cards provide you with revolving credit, allowing you to borrow money up to a set limit and pay it back with interest. While some credit cards come with higher APRs than credit union personal loans—usually between 15% and 30%—some offer 0% introductory APRs for six to 20 months, or longer, for highly qualified applicants. Many credit card companies also offer credit card cash advances, though these can come with large fees.

A credit card can be helpful if you need to borrow money for short-term expenses or everyday purchases. For a large sum of money, though, a personal loan from a credit union might be better due to lower interest rates and longer repayment terms.

Payday Loans

Payday loans are short-term loans that typically have fees that are equivalent to APRs as high as 400%. Since they can be expensive to repay, borrowers risk getting caught in a cycle of debt where they need to borrow more money to cover the initial debt.

Payday loans are a risky option, so before you take on this debt, have a plan to repay the loan and make sure you’re aware of the interest and fees that come along with it. Credit unions offer personal loans with much lower interest rates and longer repayment terms, making them a more stable and reliable option.

Car Title Loans

A car title loan involves using the title of your vehicle as collateral for the loan. That means if you fail to repay a car title loan, the lender can then take possession of your car.

The money you can borrow typically ranges from a few hundred to a few thousand dollars, and the loan terms are usually around 30 days. While car title loans might seem like a quick and easy solution for getting the cash you need, they come with high-interest rates and fees that can make it difficult to repay the loan on time.

In contrast, credit unions offer personal loans with lower interest rates and longer repayment, making them a better option for most borrowers.

Methodology

We reviewed popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best lenders based on the weighting assigned to each category:

• Loan cost. 35%
• Loan details. 20%
• Eligibility and accessibility. 20%
• Customer experience. 15%
• Application process. 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.

Where appropriate, we awarded partial points depending on how well a lender met each criterion.

To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.

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