Pros Explained

• No origination fees: You’ll be able to keep more of your loan in your pocket, since Alliant doesn’t charge an origination fee. This saves you money compared to other companies that charge between 1% and 5.25%.
• Debt protection available: Alliant Credit Union offers four different options for debt protection: Involuntary unemployment, death, combination death and disability, and total protection that includes all three of the others.
• Receive same-day approval and funding in most cases: While you may have to wait up to five days to have your funds from competitors deposited, Alliant often approves and funds your loan on the day you submit your application, giving you access to the cash quickly.

Cons Explained

• Only established members can receive funds: Not only do you need to be an existing Alliant member to get a loan, but you must also be an established member. At a minimum, this means you must be a member for 90 days before applying for a loan.
• Co-signer not available: Alliant does not allow you to use a co-signer to help you qualify for a personal loan.
• Minimum loan is $1,000: Some lenders allow you to apply for a personal loan for as little as $250. However, Alliant Credit Union requires you to borrow at least $1,000. 

Types of Persona👍l Loans Offered by Alliant Credit Union

Alliant Credit Union offers unsecured personal loans that you can us♑e in a variety of ways, including for:

• Debt consolidation
• Home improvements
• Emergencies
• Vacations
• New appliances
• Tax bills
• Weddings
• Personal property

Time to Receive Personal Loan Funds

Alliant Credit Union strives to approve your loan quickly. If your application is approved, you’ll ꦓoften receive a dꦗeposit into your account on the same day.

Borrower Requirements

To qualify for a personal loan, you must be an Alliant Credit Union member in good standing with an account that’s been open for at least 90 days. The company considers your credit score and history,ꦺ creditworthiness, down payment, debt-to-income ratio a🍬nd other factors when approving loans. It doesn’t have a specific income requirement or credit level that you have to meet. 

Alliant Credit Union Personal Loan Features

Personal loans from Alliant Credit Union have the folloꩵwing features: 

• Creditor direct pay: Alliant can send money directly to your creditors to help you consolidate debt. 
• Mobile app: Download the Alliant Credit Union mobile banking app to manage your loan payments.
• Automatic payment option discount: You’ll save 0.4% APR by agreeing to pay your bill automatically.
• Loan assistance program: Alliant has a payoff program for eligible members experiencing financial hardship. It provides reduced interest rates and allows payments over a set term until the loan balance is paid.
• Non-variable late payment: While some lenders charge a percentage of your loan payment as a late fee, Alliant charges a flat $35.
• Unemployment protection: You can purchase involuntary unemployment protection for your loan. Then, if you unexpectedly lose your job, Alliant will cancel up to three payments per occurrence.
• Life protection: You can purchase life protection. If you do and then pass away, up to $100,000 of your loan gets canceled.

Co-Signers and Co-Applicants

Very few of the personal loan lenders we reviewed allow co-signers, and Alliant Credit Union is not one of them. However, it does allow you to list a co-applicant or co-borrower. A co-applicant is equally responsible for loan payments. Alliant consid🔜ers their credit history, income, and debt-to-income ♐ratio along with yours.

Can You Refinance a Personal Loan With Alliant Credit Unio꧋n?

If you need to refinance your loan from Alliant, you can. However▨, it’s impor♚tant to note that rates are 1% higher when you do.

Customer Service

Though Alliant provides 24/7 customer support, it recommends calling on weekdays between 7 a.m. and 7 p.m. CT to ensure you get the best loan experience. 

You also have other ꦍoptions for contacting someone from the team.

Customer Satisfaction

Alliant received a 0.9 (on a scale of 0-5) rating in Investopedia's Combined Consumer Review score. This metric aggregates ratings and reviews from two consumer review sites: Trustpilot and the Better Business Bureau. Our rating is tilted toward companies with numerous reviews, and Alliant has relatively few on both sites.

Alliant's Trustpilot score is 1.9 stars, lower than many of its competitors. However, it only has 67 reviews, which is also lower than other lenders. On the Better Business Bureau's site, Alliant earns a 1.2 rating from 47 customer reviews.

Alliant Credit Union Membership Requirements

To join Alliant Credit Union, you must 🦋meet one of the following requir🥃ements:

• Be a current or retired employee from a partner business or organization in the United States
• Be a domestic partner or immediate family member of a current member
• Live or work in an eligible community near corporate headquarters in Chicago
• Become a member of Foster Care to Success (FC2S); Alliant will pay the $5 membership fee on your behalf

If you live outside of the United States, you can become a member if you have either a social security number or an unexpired Individual Taxpayer Identification Number (ITIN).

Applyi🗹ng for an Alliant Credit💜 Union Personal Loan

Alliant’s appli😼cation process is simple. Before starting, you’ll want to have basic personal and financial information, such as your Social Security number, gross monthly income, and employಞment information.

The application has five simple steps:

1. Loan details
2. Personal information 
3. Co-borrower information
4. Spouse information
5. Application review

During the process, you’ll use a drop-down menu to state what your loan is for, indicate how much you’d like to borrow, and provide requested information about you, your co-borrower, and your spouse (if💜 applicable).

The online form also asks f🐼or details about your employer and any additional income you’d 𒀰like to be considered. 

After you submit yourꦰ loan application, Alliant reviews the information and makes a decision. If you qualify, it’ll send you a loan offer to examine. If you accept the loan offer, funds are typically deposited on the same day.

Membership Requirements

While anyone eligible for membership can apply for other types of loans with Alliant Credit Union and submit their application for membership after approval, only existing members in good standing can take out a personal loan.

Other Banking Services and Loans Offered by Alliaജnt Credit Union

Alliant offers a wide range of banking services and loans. It made our list of the Best Credit Unions, earning the title Best🍬 for a Savings Account. In addition to the typꦦical checking, savings, and personal loans, the company also offers:

• Credit cards
• Kids' savings accounts
• Teen checking accounts
• 澳洲幸运5官方开奖结果体彩网:Certificates of deposit
• Custodial accounts
• Mortgages
• 澳洲幸运5官方开奖结果体彩网:Home equity lines of credit
• Vehicle loans
• Commercial real estate financing
• Investment services
• Life, auto, and homeowners insurance

Compare Alliant🌸 Credit Union With Other Personal ⛎Loan Lenders

The Bottom Line

If you’re already a member of Alliant Credit Union, its personal loans are worth looking at. You can borrow up to $10🍌0,000ꦗ and select among several different payment terms. The application process is simple, and you may get your funds deposited on the same day. 

However, with rates starting at 8.99% APR, you may𒉰 pay more in interest💙 than you would with another lender. Moreover, you aren’t yet eligible if you aren’t a member. In that case, you might want to go with a different company for your loan. 

How Long Does Alliant Loan Approval Take?

Once you get a personal loan apprꦛoved, you typically get funds deposited on the same day. However, Alliant Credit Union is currently experiencing a high volume of loan applications, so there are delays in the approval process. The estimated turnaround time for approval is 24 to 48 hours. 

What C🎀re🍷dit Score Do You Need to Get a Loan from Alliant Credit Union? 

Alliant doesn’t list a minimum credit score for loan approval. Instead of looking at a specific data point, it considers multiple factors. But if you don’t have a good credit score, you may get better rates with another company in our list of 澳洲幸运5官方开奖结果体彩网:best personal loans with no credit c🌳heck.

Is It a Good Idea to Get a Loan From a Credit Union?🌄

Alliant’s personal loans have several things going for them, including high borrowing limits, flexible payment terms, and same-day deposits. But their high interest rates and membership requirements mean that 澳洲幸运5官方开奖结果体彩网:you may be better offꦇ with another lender. 

Do You Need to Be a Mem🥀ber to Get a Loan from Alliant Credit Union?

Yes, Alliant’s 澳洲幸运5官方开奖结果体彩网:personal loans are only available to people who’ve been members for at least 90 days.

Can Anyone ﷽Become a Member at All😼iant Credit Union? 

Only people meeting Alliant’s 澳洲幸运5官方开🐼奖结果体彩网:membership eligibility requirements can join. You’🍃ll have to be one of the🌜 following:

• A current or retired employee from a U.S. partner organization 
• A domestic partner or immediate family member of a current member
• A resident of an eligible community near its Chicago corporate headquarters
• A member of Foster Care to Success 

Does Alliant Credit Union Have Branches?

No, Alliant doesn’t have any 澳洲幸运5官方开奖结果体彩网:brick-and-mortar branches, although you can use one of its many fee-free ATMs across the country to withdraw money or make cash deposits.

Companies We Reviewed

Below are the lenders we re🎶searched to determine the best personal loan lenders, along with links to individual company reviews to help you le🔯arn more before making a decision:

Achieve, Affinity Federal Credit Union, Alliant Credit Union, 澳洲幸运5官方开奖结果体彩网:American Express, Avant, Axos, Best Egg, FourLeaf Federal Credit Union, BHG Financial, Blaze Credit Union, Blue Federal Credit Union, Boeing Employees' Credit Union, Citibank, Connexus Credit Union, Discover, ENT Credit Union, Fig Loans, 澳洲幸运5官方开奖结果体彩网:First Tech Federal Credit Union, Greenstate Credit Union, Happy Money, 澳洲幸运5官方开奖结果体彩网:Lake Michigan Credit Union, Laurel Road, 澳洲幸运5官方开奖结果体彩网:LendingClub, LendingPoint, LendingUSA, Liberty Federal Credit Union, 澳洲幸运5官方开奖结果体彩网:LightStream, Mariner, Money Key, Mountain America Credit Union, 澳洲幸运5官方开奖结果体彩网:NASA Federal Credit Union, 澳洲幸运5官方开奖结果体彩网:Navy Federal Credit Union, Netcredit, Old National Bank, OneMain, OppLoans, 澳洲幸运5官方开奖结果体彩网:Patelco Credit Union, PenFed, Personify Financial, PNC Bank, Prosper, Reach Financial, Regions, Reprise, Rocket Loans, 澳洲幸运5官方开奖结果体彩网:Santander, Service Federal Credit Union, SoFi, 澳洲幸运5官方开奖结果体彩网:Summit Credit Union,TD Bank, Teachers Federal Credit Union, Truist, 澳洲幸运5官方开奖结果体彩网:U.S. Bank, 澳洲幸运5官方开奖结果体彩网:Universal Credit, Upgrade, Upstart, USAA, 澳洲幸运5官方开奖结果体彩网:Wells Fargo, Zable.

Methodology

To evaluate and rank personal loan providers, we collected and scored over 2,6ꦓ00 data points from 59 lenders, including traditional banks, credit unions, fintechs, and finance companies. We researched and evaluated 45 criteria, such as APRs, loan amounts and terms, fees, customer experience, and more. Research and data collection occurred from July 23 to October 18, 2024. 

We organized the 45 criteria into four categories and weighted 26 (involving more than 1,500 data points), using the others for background and editorial richn☂ess. We then scored and weighted each criterion to develop our overall star rating for each lender. The categories and their weights for this project are:

• Borrowing Requirements: 24.00%
• Lender Features: 24.00%
• Loan Costs: 30.00%
• Loan Terms: 22.00% 

Learn more about how we evaluated personal loans in 澳洲幸运5官方开奖结果体彩网:our complete methodology.