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%.