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Credit Union 1 Alaska Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 19 Aug 2023
Fact checked

Credit Union 1 (CU1) Alaska logo

Credit Union 1 (CU1) Alaska, formerly known as the Anchorage Teachers Federal Credit Union was established in 1952. It is Alaska’s only state-chartered credit union with 100,000 members and $1.47 billion in assets. Credit Union 1 (CU1) Alaska has offerings and services that include savings, checking accounts, credit cards, CDs, loan products, and refinancing.

Tackling your goals, whether they involve building your dream kitchen, starting a new business, or paying off your credit cards once and for all, can be expensive. Taking out a personal loan can help. Before deciding that a personal loan from Credit Union 1 (CU1) Alaska is what you need, get an estimate of your potential monthly payments. Use the Credit Union 1 Alaska personal loans calculator to get things started.

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.

Credit Union 1 personal loans at a glance

CU1 offers customizable personal loans. The money can help cover unexpected expenses, emergency purchases, and other financial needs. Credit Union 1 personal loans have flexible terms, and there are no early repayment fees.

Here’s a breakdown of the key features and benefits of a Credit Union 1 (Alaska) personal loan:

  • Loan amounts: From $1,000 to $48,000
  • Loan terms: Starting at 12 months
  • Loan fees: no origination fee, no prepayment penalty, no late fees
  • Interest rates: Starting at 6% APR
  • Co-applications: Allows co-borrowers to increase chances of approval

Requirements for a Credit Union 1 personal loan

To apply for a Credit Union 1 (Alaska) personal loan, you must first become a member. Anyone who lives or works in Alaska is eligible to apply for membership at Credit Union 1 Alaska.

Credit Union 1 doesn’t have a list of borrower criteria. However, most lenders expect you to meet the following requirements:

  • You are 18 years of age or older. Provide at least two forms of government-issued identification such as passport or certificate of citizenship.
  • You are a US citizen or resident. Provide a copy of a voter registration card or auto insurance that lists your address.
  • You have consistent and steady monthly income. Common forms of income verification include pay stubs, 1099 forms, or income tax returns.
  • You have a good credit standing. Aim to maintain a minimum credit score of 600. Ideally, a credit score of 700 can result in lower APRs, higher loan amounts, or a more reasonable repayment term.
  • You have a good debt-to-income ratio. Most lenders expect applicants to have a DTI ratio of 40% or lower.

Credit Union 1 Alaska personal loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$20,000

Term

3 months

Change
Credit Union 1 (Alaska)

Credit Union 1 (Alaska) personal loans

Credit Union 1 (Alaska) personal loans
Estimated Month Repayments
$16,650 Inclusive of fees
Interest Rate
999.00%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$200
to $20,000
Go to site
Credit Union 1 offers flexible terms and no early repayment fees on personal loans.
Featured
Wells Fargo

Wells Fargo personal loans

Estimated Month Repayments
$606 Inclusive of fees
Interest Rate
5.74%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$3,000
to $10,000
Go to site
Checking and savings accounts and credit cards for your everyday business expenses and cash management.
Featured
Eastman Credit Union

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
29.90%
APR
Repayment Period
12 months
to 12 months
Loan Amounts
$1,000
to $20,000
Go to site
ECU offers extraordinary products & services that make life just a little easier.

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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.

Pros

  • Starting interest rates are reasonable
  • Both secured and unsecured loans are available
  • No origination fee
  • No prepayment penalty
  • No late fee

Cons

  • The lender doesn’t make its full eligibility criteria clear
  • Applications are restricted to those living or working in Alaska
  • The maximum borrowing limit is lower than those from other lenders

Frequently asked questions

How much can I borrow from a Credit Union 1 personal loan?

You can borrow between $1,000 and $48,000 from Credit Union 1 Alaska.

What are the fees involved when applying for a Credit Union 1 personal loan?

Personal loans from Credit Union 1 don’t have origination fees, late fees, or prepayment penalties.

What is the possible APR for a Credit Union 1 personal loan?

Potential rates for a Credit Union 1 personal loan start at 6% APR.

Can I apply with a co-borrower?

Yes, you can. In fact, your personal loan application at Credit Union 1 Alaska has a higher possibility of getting approved if you apply with a co-borrower with a regular income and good credit standing.

Can I apply for a Credit Union 1 personal loan if I have a low credit score?

It is best to improve your credit score before applying for a Credit Union 1 Alaska personal loan. This will improve your chances of getting approved.

Where can I find the online banking login for Credit Union 1?

You can log in to your online account at the Credit Union 1 Alaska website.

Video: Credit Union 1 Alaska is your window to what’s next

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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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