Important disclosure

Citizens Equity First Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 19 Aug 2023
Fact checked

Citizens Equity First Credit Union logo

Citizens Equity First Credit Union is a federally insured credit union established in 1937. CEFCU currently has over 350,000 members in counties across Illinois and California. This financial cooperative provides loans, savings and investments, credit and debit cards, and other related services.

Is a CEFCU personal loan right for you? Use the Citizens Equity First Credit Union personal loans calculator to find out your estimated monthly repayment. Compare loan features, terms, and conditions with other lenders. Get the best deal for you.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

Citizens Equity First Credit Union personal loans review

Citizens Equity First Credit Union offers secured and unsecured personal loans to fund your various financial needs. The money can be used for debt consolidation, home renovations or repairs, vacations, and emergency expenses. You can get lower rates depending on your credit score and loan repayment terms.

CEFCU personal loan features

Below is a snapshot of the main features and benefits of a Citizens Equity First Credit Union personal loan:

  • Loan amounts: starting at $1,000
  • Loan terms: term varies based on personal loan product
  • Repayment frequency: monthly
  • Interest rates: 2.90% and up to 12.75% APR

Requirements for a CEFCU personal loan

To apply for a CEFCU personal loan, you must first join to become a member. Who can become a member?

  • Live or work in certain Illinois and California counties
  • Current or retired employee of a CEFCU partner company
  • Current or retired CEFCU employee
  • A family member of an eligible CEFCU member

Borrower criteria for a CEFCU personal loan are not available online; typically, they expect you to:

  • Be 21 years of age
  • Be a US resident
  • Have a steady source of income
  • Have a good credit standing

When you apply for a CEFCU personal loan, have these documents ready:

  • Proof of identity (driver’s license, social security number, other state-issued IDs)
  • Proof of US residential address
  • Proof of employment (pay stubs, W-2s and 1099s, employer statement)
  • Income verification (tax returns, bank statements, annuity statements)

CEFCU personal loan calculator

Loan Amount

$20,000

Term

3 months

Citizens Equity First Credit Union

Citizens Equity First Credit Union personal loans (Personal Secured)

Estimated Month Repayments
Interest Rate
28.90%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Sometimes, things just happen, and CEFCU can be there for you with low rates and fees.
Citizens Equity First Credit Union

Citizens Equity First Credit Union personal loans (Personal Unsecured)

Estimated Month Repayments
Interest Rate
28.90%
APR
Repayment Period
12 months
to 48 months
Loan Amounts
$1,000
to $20,000
Sometimes, things just happen, and CEFCU can be there for you with low rates and fees.

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

Frequently asked questions

What are the personal loan options from CEFCU?

You can choose among the following personal loan products: Single Payment Notes, Personal Shared Secured, Personal Secured, and Personal Unsecured.

What conditions must be met in order to apply for a CEFCU personal loan?

Personal loan applications are available for CEFCU members only. If you’re not a member yet and want to take out a CEFCU loan, you must join to apply for the loan.

How much can I borrow from a CEFCU personal loan?

The minimum loanable amount is $1,000.

What are the rates for a CEFCU personal loan?

Potential rates can be as low as 2.90% and up to 12.75% APR.

How frequently should I make repayments for my CEFCU loan?

The available repayment terms are on a monthly basis.

Can I apply for a CEFCU personal loan if I have a low credit score?

It is best to improve your credit score before applying for a CEFCU personal loan. This will improve your chances of getting approved.

Does a CEFCU personal loan have a payment protection plan available?

Yes, it does. If you have MEMBER’S CHOICE® Credit Life insurance and you pass away before repaying the full loan amount, it enables you to pay off your loan balance. On the other hand, MEMBER’S CHOICE® Credit Disability insurance qualifies you for retroactive payments in case of sickness or accident.

Where can I find the online banking login for CEFCU?

Account access through online banking is available at the CEFCU online banking website.


Video: Build your credit with a personal loan at CEFCU

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Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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