Top Credit Union Personal Loans of 2025
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Best credit union personal loans for 2025
Alliant: Best for fast funding
First Tech: Best for co-sign and joint loan options
PenFed: Best for a seamless application process
Navy Federal: Best for military members
How do credit union personal loans work?
Pros and cons of personal loans from credit unions
Pros
Low interest rates.
Small minimum loan amounts.
Applicants may be evaluated on factors beyond credit score.
Cons
May require credit union membership.
May not offer pre-qualification with a soft credit check.
Funding may take longer than online lenders.
Credit union personal loan rates
How to get a loan from a credit union
- Check eligibility criteria and apply for membership. If you’re not already a member, review the credit union’s membership criteria, as some only serve specific audiences, like military members or educators. You may be able to apply for a membership online or at the credit union’s branch. Some credit unions require you to open a savings account with a small deposit to gain membership.
- Pre-qualify or research loan rates and terms. Pre-qualifying for a personal loan lets you preview your rates and terms without a hard credit inquiry. If your credit union doesn't offer pre-qualification, talk to the branch or research loan options online to ensure they offer the loan amount and term you need. Use a personal loan calculator to estimate your monthly payments.
- Submit an application. Many credit unions allow online loan applications, which typically ask for your personal and contact information, Social Security number, and employment and income details — plus information about any current debts. Local or smaller institutions may require you to apply in-person or finalize the loan at a branch. The lender will perform a hard credit check when you apply, which can cause your score to dip a few points.
- Sign loan documents and get funded. A lender will send you a loan agreement to sign when it approves your loan application. Read over this document carefully and make sure you understand all the terms before signing. Once you sign, the lender will usually disperse funds within the week, though some can send the money the same or following day. Your first loan payment is typically due in 30 days.
Tips for getting a credit union loan with bad credit
Payday alternative loans from credit unions
Credit unions vs. banks vs. online lenders
Next steps
Article sources
- 1. National Credit Union Administration. Payday Alternative Loans Final Rule. Accessed Apr 17, 2025.
- 2. National Bureau of Economic Research. Prodigals and Projecture: An Economic History of Usury Laws in the United States from Colonial Times to 1900. Accessed May 2, 2025.
- 3. Federal Register. Federal Interest Rate Authority: A Rule by the Federal Deposit Insurance Corporation on 07/22/2020. Accessed May 2, 2025.
- 4. Federal Reserve Bank of St. Louis. Finance Rate on Personal Loans at Commercial Banks, 24 Month Loan. Accessed May 23, 2025.
- 5. Consumer Financial Protection Bureau. What Is a Debt Relief Program and How Do I Know if I Should Use One?. Accessed Jan 16, 2025.
- 6. Consumer Financial Protection Bureau. Truth in Lending Act (TILA) examination procedures. Accessed May 2, 2025.
- 7. Experian and Oliver Wyman. Financial Inclusion and Access to Credit. Accessed Jan 23, 2025.
- 8. Internal Revenue Service. Canceled debt – Is it taxable or not?. Accessed Apr 1, 2025.
- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 17, 2025.
- 10. Center for Responsible Lending. Payday and Other Small Dollar Loans. Accessed May 2, 2025.
- 11. National Credit Union Administration. Credit Union and Bank Rates 2024 Q4. Accessed May 23, 2025.
- 12. Federal Reserve. Military Lending Act. Accessed May 2, 2025.
- 13. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 24, 2025.
- 14. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Installment Loans. Accessed May 2, 2025.
- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed May 2, 2025.
- 16. Consumer Financial Protection Bureau. What are the costs and fees for a payday loan?. Accessed Jun 6, 2025.
- 17. Internal Revenue Service. Home energy tax credits. Accessed Mar 6, 2024.
- 18. Center for Responsible Lending. Unsafe Harbor: The Persistent Harms of High-Cost Lending. Accessed Jun 6, 2025.
- 19. Solar Energy Industries Association. Solar Power Purchase Agreements. Accessed Mar 7, 2024.
- 13. Consumer Financial Protection Bureau. Consumer Use of Buy Now, Pay Later and Other Unsecured Debt. Accessed Jan 27, 2025.
- 21. SolarReviews.com. Homes with Solar Sell for 6.8% More [2024 Zillow Data Study]. Accessed Dec 10, 2024.
- 22. Internal Revenue Service. Retirement Topics - Plan Loans. Accessed Apr 8, 2025.
- 9. Consumer Financial Protection Bureau. What is a payday loan?. Accessed Apr 4, 2025.
- 24. The Pew Charitable Trusts. Payday Loans Cost 4 Times More in States With Few Consumer Protections. Accessed Apr 4, 2025.
- 12. Federal Reserve. Military Lending Act. Accessed Apr 4, 2025.
- 26. Internal Revenue Service. Retirement topics: Exceptions to tax on early distributions. Accessed Apr 8, 2025.
- 27. Administrative Office of the U.S. Courts. Bankruptcy Basics. Accessed Apr 8, 2025.
Methodology
How we chose the best personal loans
Our team of consumer lending experts follow an objective and robust methodology to rate lenders and pick the best.
35+
Lenders reviewed
We review over 35 lenders, including major banks, top credit unions, leading digital platforms, and high interest installment lenders operating across multiple states.
25+
Categories assessed
Each lender is evaluated across five weighted categories and 27 subcategories, covering affordability, eligibility, consumer experience, flexibility, and application process.
70+
Data points analyzed
Our team tracks and reassesses hundreds of data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial technology companies and financial institutions. We collect over 70 data points and cross-check company websites, earnings reports and other public documents to confirm product details. We may also go through a lender’s pre-qualification flow and follow up with company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. Our ratings award fewer points to lenders with practices that may make a loan difficult to repay on time, such as charging high annual percentage rates (above 36%), underwriting that does not adequately assess consumers’ ability to repay and lack of credit-building help. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
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