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Credit Union Lenders Operating in Colorado for Short Term Loans

A credit union is the best option if you want to borrow a small amount of money through a short term loan to cover some emergency expenses. Credit union’s personal loans have lower interest rates and they are generally easier to get approved. The following are the top 4 credit unions in Colorado that offers low fixed rate personal loans.

1. Ent Credit Union
The Ent Credit Union was founded in Colorado in 1957. It is named after General Uzal Girard Ent who was the Ninth Air Force’s commander. It now has over 280,000 members and 28 branches in Colorado. Ent credit union offers a signature loan that features low fixed monthly payment and interest rate that ranges from 7.39% – 16.90%. The interest rate varies across different repayment terms. There are 3 repayment terms including 48, 60 and 72 months. There is no collateral, application fee and prepayment penalty. You will receive alerts when the due date arrives for you to make payment.

2. Public Service Credit Union
Public Service Credit Union is a state-chartered credit union founded in 1938. It has over 190,000 members and 200 branches in Colorado. Public Service Credit Union offers unsecured signature loans with loan terms of up to 5 years and interest rate starting from 9.99%. Borrowers have the options of making repayment through two options including automatic transfer via their savings or checking account. No prepayment penalty fees is charged if you prepay the loan. You don’t have to put in any collateral to apply for a PSCU personal loan.

3. Credit Union of Colorado
The Credit Union of Colorado was originally established in 1934 as Colorado State Employees Credit Union. It now has a membership base of over 100,000 people and its total assets worth is more than $1 billion. Credit Union of Colorado offers personal loans with APR interest rates starting from 9.25%. The maximum amount that you can borrow is $50,000 and the maximum loan term is 60 months. The personal loans from the Credit Union of Colorado can be used for debt consolidation, wedding expenses, and large purchases.

4. Elevations Credit Union
Elevations Credit Union was founded with just 12 members in 1953 and its membership base has now grown to over 120,000 members. It has 11 branches in Colorado and a total asset of more than 1.8 billions. Elevations Credit Union offers unsecured personal loans that come with fixed interest rate and no prepayment penalty. It offers optional loan protection for the personal loans that can protect you in case you lose the ability to repay the loan. It can be used for financing your vacation, car repair, consolidate multiple debts, and other types of personal expenses. The unsecured personal loans have an interest APR starting from 9.99%-18%.

Top Personal Loan Providers Who Service Tennessee

Are you a resident of Tennessee looking for unsecured or secured personal loans? Today the pickings can be slim when it comes to Tennessee personal loan offers. While banks are indeed lending more these days, since the recession has picked up somewhat, the interest rates offered by local banks and credit unions are often times high, not to mention most of these lenders tend to offer rather inflexible terms. If you want to find the best possible rates and terms, you need to expand your options and your search. You can better take control of your financial life by expanding your search to include online personal loan lenders. If you are worried about finding a trust worthy, personal lender, we have you covered, thanks to our list of reputable online personal loan lenders who do business in Tennessee.

You can apply for these loans in the comfort of your own home. Applying for these loans online is often easier, not to mention quicker than applying in person at a bank or credit union. These lenders also tend to have much faster turn around times, in most cases a decision on your loan will be made in as little as 24 to 48 hours, with cash in hand in as little as 24 hours following an loan approval. All you need is to have verifiable income information and your social security number, as well as a valid bank account so you can receive your funds. It is also a good idea to know where your FICO score stands, as well as to take a look at your credit report for any errors before you apply, since nearly 25 percent of all credit reports contain errors which lower the consumers credit score. Here is our list of the top online lenders who do business with residents of Tennessee.


If you have poor credit, you may have felt that a personal loan was out of your reach, but that is not the case when it comes to Vouch. With vouch all you need is a credit score of 600 and some people to “Vouch” for you. A vouch is a simplified form of co-signing, but those who vouch for you are only partially backing up you loan. The more vouches you can obtain to back your loan up, the more you can borrow. Another key benefit kicks in for loans larger than $2000, for each vouch you receive, you get a 1 percent interest deduction to your interest rate. Not only can you score a personal loan with an interest rate as low as 7.35%, you can also improve your credit with responsible on time repayment of your debt. To learn more simply visit

Installment Loans Network

If you have been disappointed by the offers you have received locally, give ILN a try. You can check your rate and qualify without affecting your credit score, so you have nothing to loose by checking. This lender has over 90 years behind them, and they are a BBB accredited business with a rock solid reputation in the lending industry. They also have excellent customer service that can be reached over the phone, so you do not need to deal with endless emails back and forth should you end up having an issue. Loan amounts range from $1500 to $10,0000. Your interest rate will vary according to your credit history and FICO score. This lender also has plenty of branches in Tennessee to serve all of your personal loan needs. To learn more visit

Prosper is another online lender that offers you the option of checking your rate without affecting your credit score, so this lender is also worth checking out, since there is no risk in doing so. This lender might just surprise you with the rate you have been looking for. If you have excellent credit, decent income and a your past payment history is spotless, you might qualify for a Prosper AA rating which can net you a low 5.99 percent interest rate on a personal loan. Of course on the opposite end of that spectrum they have a high end APR of 36% for those with poor credit and other factors. Loan amounts range from as low as $2000 to as high as $35,000, to learn more visit

Loans APR versus Nominal Interest Rates How To Determine

When it comes to evaluating any loan you are interested in or for that matter even a line of credit, there are a few important things to consider, and many people new to loans often get confused on one key point. The key point many people get easily confused on is the difference between the interest rates advertised and the annual percentage rate or APR. Your advertised interest rate, otherwise known as your nominal interest rate is used to calculate the interest expense of your loan. For example if you took out a loan of $100,000 with a 6.5% interest rate, then your annual interest cost would be $6500 per year with a monthly payment of $650.

APR now is different. Your APR is expressed as a percentage rate and your APR will include not just the interest rate but also every fee and expense associated with the loan. Your APR will always be equal to or greater than your nominal interest rate with one exception. The exception to this rule is when your lender is offering you a rebate on a certain portion of your interest expenses. Using our past example of the $100,000 mortgage loan, the APR will be vastly different. You have closing costs, mortgage insurance costs as well as loan origination fees totaling $4000. If you want to figure out your mortgages APR you will add in these fees to the original loan amount of $100,000 to create a new loan amount totaling $104,000. The 6.5 percent interest rate is used on this new figure to calculate your new annual payment of $6760 with a monthly cost of $563.33 Now to calculate the APR you divide the annual payment of $6760 by the original loan amount of $100,000 to get an APR of 6.76%

When you want to compare two loans you want to compare the nominal rate first. Why look at the nominal rate first? The lender who offers the lowest nominal rate is very likely to offer the best value due to the majority of the loan being financed at a lower rate overall, even after fees are accounted for. What can be confusing is when you see the same nominal rate between two lenders but differing APRs. The lender with the higher APR is simply charging you more fees and the one with the lower overall APR is offering you the better deal. The one with the lower APR is the better deal since they are requiring fewer fees.

There are some things to consider about the APR however. For one using the APR to calculate the true costs of say an adjustable rate mortgage can be difficult as no one can predict the future interest rates and directions that interest rates may go. Another fact to consider is that lender costs are spread out through the entire lifetime of your loan so refinancing your home could be more expensive than what is suggested by the APR.

When taking out any loan be sure to compare each lenders listed APR and nominal interest rate. The Federal Truth in Lending Act requires that all loans list both the APR as well as the nominal interest rate so this is a very effective tool to determine the true cost of any loan you are pursuing. Using this tool can help you avoid lenders charging excessive loan origination fees and save you a great deal over the lifetime of any loan you take out. The more you understand about any loan you plan to take out, the more informed you can be about getting the best deal available.