How to apply for Alliant Credit Union Loans

If you’re in need of funds for your dream travel, home refurbishment, debt payment, or starting a new business, Alliant Credit Union can provide a great option. With over 500,000 members nationwide, Alliant Credit Union is now one of the largest credit unions in the United States.

Who is Eligible for Alliant Credit Union Personal Loans?

To be eligible for a personal loan from Alliant Credit Union, you need to meet certain requirements:

• Become a member of Alliant Credit Union by opening a savings account with a minimum deposit of $5.
• Have a good credit score, with a minimum of 670 typically required for personal loan applicants.
• Meet income and debt-to-income ratio requirements, which will be considered during the loan application review process.

Please note that Alliant Credit Union personal loans are only available to residents of certain states. As of 2023, residents of Alaska, Arkansas, Delaware, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Nevada, New Hampshire, North Dakota, South Dakota, Utah, Vermont, West Virginia, and Wyoming are not eligible for Alliant Credit Union personal loans.

How to Apply for Alliant Credit Union Personal Loans

If you’re interested in applying for a personal loan from Alliant Credit Union, the process is simple and can be completed online. Here’s a step-by-step guide:

1. Check your eligibility: Before starting the application process, ensure that you meet Alliant Credit Union’s eligibility requirements.
2. Gather your documents: Collect the necessary documents, such as proof of income, social security number, and employment information, before beginning the loan application.
3. Fill out the application: Complete the loan application online by providing personal and financial information, as well as the desired loan amount and repayment term.
4. Submit your application: Review the information for accuracy and submit your loan application. You will receive a decision within minutes.
5. Receive your funds: If your loan application is approved, the funds will be deposited into your account within one business day.

Can’t Qualify for Alliant Credit Union? Consider American Express Loans

If you’re unable to qualify for a loan from Alliant Credit Union, another option to explore is American Express Loans. While both lenders offer personal loans, there are some key differences in approval and terms:

Application process: While Alliant Credit Union allows non-members to apply for personal loans if invited by a cooperative member, American Express Personal Loans are only available to pre-approved customers who have received an invitation to apply.

Loan amounts: Alliant Credit Union offers loans ranging from $1,000 to $50,000, while American Express Personal Loans have a minimum loan amount of $3,500 and a maximum of $40,000.

Fees and penalties: Alliant Credit Union does not charge origination fees or prepayment penalties for personal loans, and American Express Personal Loans also do not have origination fees or prepayment penalties. However, American Express borrowers may be subject to a late payment fee if they miss a payment.

How to Apply for American Express Loans

If you’re interested in American Express Personal Loans, refer to our article on how to apply for the company’s services.

Written by

Claire Harrison