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Alliant Credit Union Personal Loans Review: Fast Loans for Alliant Members

Review Updated
Brittney Myers
Author: Brittney Myers
Brittney Myers
Brittney Myers
Writer

Brittney started her writing career in the world of science, putting her physics degree to good use. Her journey into finance started with building her personal credit, but soon grew into a borderline obsession with credit cards and travel rewards. For the last 7 years, she has enjoyed the ability to share her expertise with readers, as well as the opportunity to interview companies and individuals making an impact on our financial lives. She wholly believe most problems can be solved with the right research -- and a good spreadsheet -- and she specializes in translating complex financial topics into actionable advice to help educate and empower readers.

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Alliant Credit Union offers both personal loans and auto loans, including Tesla loans, with fast, same-day decisions in most cases. However, there are some important requirements for approval, including becoming a member, and offered interest rates aren't always competitive. Read our full Alliant Credit Union loans review for all the details.

Alliant Credit Union Personal Loan

Great for: Alliant Credit Union members who need a low-fee personal loan with a quick turnaround time.

Logo for Alliant Credit Union Personal Loan
Rating image, 4.0 out of 5 stars.
4.0/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Minimum Credit Score
Not disclosed
Loan Amounts
$1,000 - $50,000
APR Range
10.99% - 12.99%
Term Length
12 - 60 months

Existing members can get quick approval on a variety of loans, and auto loans have competitive rates. If you're not a member already, personal loans require a wait, but auto loans are still an option.

  • Multiple types of loans
  • Quick approval
  • No origination fees
  • No prepayment penalties
  • Unsecured personal loans
  • Must be an Alliant member
  • APRs can be high
  • No brick-and-mortar branches
  • No prequalification checker

Compare the best personal loans

Get the best rates and terms to fit your needs. Here are a few loans we'd like to highlight, including our award winners.

Lender APR Range Loan Amount Min. Credit Score Next Steps
Fixed: 8.99%-29.99% APR (with all discounts)
$5,000 - $100,000
680
7.99% - 24.99%
$2,500 - $40,000
660
7.80% - 35.99%
$1,000 - $50,000
300

Full Alliant Credit Union loans review

This personal loan is a good fit for: Alliant Credit Union members who need a low-fee personal loan with a quick turnaround time.

Top perks

Personal loans

Alliant Credit Union personal loans are available to established members, which means those who have been members for at least 90 days. Alliant offers personal loans of $1,000 up to $50,000, with terms of up to 60 months. APRs vary quite a bit, but they can be as low for qualified applicants. Personal loans are unsecured so they don't require collateral.

Auto loans

Both new and existing members can apply for Alliant auto loans. Terms range from 12 to 84 months for new and used cars. You can also apply for an auto refinance loan to see if you can get a lower rate on your current auto loan. APRs vary based on loan type and your credit score.

Tesla loans

If you're in the market for a Tesla, Alliance Credit Union has a specific loan just for you. Tesla loans have competitive APRs for qualified applicants. Terms vary from 12 months up to 84 months. You can find Tesla loans for both new and used Tesla models, as well as Tesla refinance loans.

No origination fees

No matter which type of personal or auto loan you get from Alliant Credit Union, you won't need to worry about pesky origination fees. This means you get the full loan amount you're approved for -- not the loan amount minus extra fees like you'd get with some other personal loan lenders.

No prepayment penalties

There are no prepayment penalties with an Alliant Credit Union personal or auto loan. As such, you can pay off your loan at any time during your loan term without worrying about extra fees for paying it off early. This is great for folks who want to save a little money on interest fees by paying more each month or paying a lump sum to pay off their loan balance early.

What could be improved

Must be an Alliant Credit Union member to qualify

Other than the typical qualifications for any loan, those who want an Alliant Credit Union loan will also have to jump over one more hurdle: membership. Because it's a credit union, you need to be an Alliant member to apply for a loan. This requires that you mean one of the following conditions:

  • Be a current or retired employee or a partner business
  • Live or work in an eligible community
  • Be a partner or immediate family of a current member
  • Be a member of Foster Care to Success

You also need to open and maintain an Alliant savings account with a balance of at least $5.

APRs aren't always competitive

Depending on the loan type and your qualifications, APRs on Alliant Credit Union loans aren't always competitive. This is especially true of their personal loan rates. Even if you have perfect credit, you're looking at at least a two-digit APR for a personal loan. Considering some alternative lenders offer personal loan rates in the low single-digits, this isn't ideal. Alliant is more competitive on auto loan rates, but you may still find a better deal elsewhere.

How to qualify for an Alliant Credit Union loan

Before you can even apply for an Alliant Credit Union loan, you need to become a member. Membership requires you to meet one of the following conditions:

  • Be a current or retired employee or a partner business
  • Live or work in an eligible community
  • Be a partner or immediate family of a current member
  • Be a member of Foster Care to Success

You also need to open and maintain an Alliant savings account with a balance of at least $5.

If you're looking for an Alliant Credit Union personal loan, you must be an established member to even apply for one. This means you need to have been a member for at least 90 days before applying for a personal loan.

If you need an auto loan, you can actually apply to become a member at the same time as you fill out your auto loan application. There is no minimum time you need to spend as a member to qualify.

Other than the membership qualification, Alliant isn't clear on who can qualify for a loan. While evaluation your application, Alliant will consider:

  • Your creditworthiness
  • Your income
  • The size of the loan you request
  • For auto loans, the type and age of the vehicle

Application process

The process for applying for an Alliant Credit Union loan is fairly straightforward and can be done online once you meet membership requirements. If you want a personal loan, the process looks like this:

  • Hit the "Apply Now" button on the personal loan page.
  • Log into your account.
  • Provide information about your personal loan, including the amount and preferred loan term.
  • Provide personal information, including your income and employment information.
  • Submit your application.

Those applying for an auto loan or Tesla loan would follow these steps:

  • Hit the "Apply Now" button the loan page
  • If you're already a member, log into your account. If you're not a member, choose "Apply as New Member."
  • Choose the type of auto loan you want (new, used, new Tesla, used Tesla).
  • Provide information about your auto loan, including the amount and preferred loan term.
  • Provide personal information, including your name, Social Security number, contact info, income, and employment info.
  • Provide information about your prospective vehicle, including the make, model, and age.
  • Submit your application.

Alternatives to consider

  • LightStream loans are known for their low rates. They have strict qualifications, including high credit score requirements, but they offer very competitive APRs and high loan amounts to eligible applicants.
  • Wells Fargo personal loans can be a solid option if you're looking for a personal loan with the potential for a competitive APR. Qualified applicants can enjoy rates well below 10% with no origination or prepayment fees.

An Alliant Credit Union loan is right for you if:

Alliant Credit Union loans are best for people with good credit who want a quick online approval. They don't always have the lowest APRs, but their rates aren't awful. They also offer a fairly good range of loan sizes and terms. You do need to become an Alliant Credit Union member to qualify. If you need an auto loan, this isn't a problem, as you can join during your auto loan application process. If you're not a member already and need a fast personal loan, Alliant may not be for you, as you need to be a member for at least 90 days to apply for a personal loan.

FAQs

  • No, there is no membership fee to join Alliant. However, you do need to meet certain qualification to join:

    • Be a current or retired employee or a partner business
    • Live or work in an eligible community
    • Be a partner or immediate family of a current member
    • Be a member of Foster Care to Success

    The latter membership requires a $5 fee, which Alliant pays on your behalf. You also need to open and maintain an Alliant savings account with a balance of $5 or more.

  • No, Alliant is a digital credit union that only operates online.

  • In most cases, Alliant offers same-day decisions for both personal and auto loans. Some applicants may need to provide additional information, which can mean waiting a few days for a decision.