Alliant Credit Union Personal Loans Review 2022 | American News

If you need money fast, Alliant Credit Union typically provides same day online personal loans between $1,000 and $50,000. The $14 billion Chicago-based credit union, founded in 1935, is one of the largest in the country, with 600,000 members.

In addition to personal loans, Alliant offers home and auto loans, credit cards, checking and savings accounts, individual retirement accounts, trust accounts and insurance policies.

  • Loans range from $1,000 to $50,000.
  • Funds are often deposited the same day.
  • No prepayment penalty applies if you prepay all or part of a loan.

  • You must be a member to qualify.

You can use an Alliant personal loan to consolidate other loans, cover emergency expenses, or pay for home renovations.

When applying, you may need to specify why you want to borrow the money so that Alliant can verify that the purpose meets its requirements.

If you want an Alliant personal loan, you will apply for one on the Alliant Credit Union website by selecting Personal Loans under the Borrow tab. Click the Apply Now button.

If you are a member of a credit union, you will log in and apply. Alternatively, you can apply as a new member and then join the fund if you accept a loan offer.

Borrowers often receive approval and funding the same day.

Common uses of loans include:

  • Debt consolidation.
  • Support for emergency expenses.
  • Renovation of a house.
  • Take a unique vacation.

Borrowers cannot use the loans to:

  • Fund illegal activities.
  • Gambling.

Other restrictions may apply.

Loan approval and APR depend on creditworthiness, repayment capacity, and method of payment, and rates vary based on these factors. The repayment terms are 12, 24, 48 or 60 months.

The lender provides these estimates but offers an online personal loan repayment calculator:

  • 6.24% for 12 months.
  • 7.24% for 24 months.
  • 9.24% for 48 months.
  • 10.24% for 60 months.

Alliant does not charge origination or prepayment fees if you want to prepay part or all of your loan. However, late fees may apply if borrowers do not pay on time; the amount and grace period vary.

Anyone who is a member of Alliant Credit Union and meets its underwriting criteria for a personal loan is eligible.

You can join the credit union if you are a current or retired employee of an Alliant business partner in the United States; a domestic partner or immediate family member of an Alliant Member; or you live or work in an eligible Chicago-area community.

Alliant assesses a variety of factors when a person applies for a personal loan, including credit rating. The lender will also look at your income, debt ratio, and other aspects of your finances when deciding whether or not to approve your personal loan.

Alliant Credit Union operates in all 50 states, plus Washington, DC

Alliant Credit Union earns an A+ rating from the Better Business Bureau. Trustpilot gives Alliant 3 out of 5 stars, but the credit union has only received eight reviews.

The Consumer Financial Protection Bureau received a complaint in 2020 regarding Alliant Credit Union personal loans.

If you have a problem with your Alliant personal loan, you can call customer service 24/7 at 800-328-1935.

You can also contact us online: Click Contact under Help and Support at the bottom right of the Alliant Credit Union home page. The next page displays a drop-down menu; select General Question to fill out a form that will invite someone from Alliant to follow up by phone or email.

The Alliant Credit Union website offers a personal loan calculator to help you estimate a payment and find the right loan. You can apply online and usually receive approval and funding the same day.

  • People who want personal loans online from $1,000 to $50,000.
  • People who need money fast.
  • People who plan to repay all or part of a loan early.

About Judith J. George

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