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Mountain America Credit Union Personal Loans Calculator & Overview

Carla Soto
Updated 18 Aug 2023
Fact checked

Mountain America Credit Union logo

Mountain America Credit Union was founded in 1930 and is headquartered in Sandy, Utah. They have over 1,033,000 members and hold more than $14 billion in assets. They provide a full range of financial services like free checking accounts, VISA credit cards, competitive loan rates, mobile banking, and high-yielding CDs.

Personal loans can come in many shapes and sizes, but some lenders may restrict their use. If you’re thinking about applying for a Mountain America Credit Union personal loan be sure that your repayments are on time each month and throughout the life of the loan. Learn more about your potential repayments with the Mountain America Credit Union personal loans calculator.


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.

An overview of Mountain America Credit Union personal loans

Before taking out a loan from Mountain America Credit Union, find out about its features and benefits. This will help you compare it with those from other lenders. The list below will show if they correspond to what you’re looking for in a personal loan:

  • Loan terms: between 36 and 60 months
  • Application fee: $0
  • Loan option: without collateral
  • Interest rates: as low as 10.74% APR
  • Discounts: 0.25% rate discount for automatic payments

Requirements for a Mountain America Credit Union personal loan

Mountain America Credit Union personal loans are available for members. If you want to join, there are many ways to qualify for membership:

  • You live, work, worship, or attend school in Mountain America Credit Union recognized counties
  • You are a family member of a Mountain America Credit Union member
  • You are a current or former employee of Mountain America Credit Union recognized establishments, businesses, or institutions

Mountain America Credit Union does not have a list of eligibility requirements for potential loan applicants. However, here’s the general expectation among most lenders:

  • 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.

 

Mountain America Credit Union personal loan calculator

Loan Amount

$20,000

Term

3 months

Mountain America Credit Union

Mountain America Credit Union personal loans

Estimated Month Repayments
Interest Rate
7.74%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $20,000
Make a major purchase, consolidate debt or cover unexpected expenses with a Mountain America personal loan (also known as a signature loan).

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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 and cons of Mountain America Credit Union personal loans

Pros

  • No application fees
  • No collateral required
  • Discount for automatic payments

Cons

  • High base interest rate

Frequently asked questions

How much does Mountain America Credit Union offer for its personal loans?

Mountain America Credit Union did not specify the minimum and maximum amounts for their loan products.

What are my options for repaying the full loan amount from Mountain America Credit Union?

The loan from Mountain America Credit Union can be repaid for a period between 6 months and 5 years.

What are the potential rates for a personal loan from Mountain America Credit Union?

Potential rates for a Mountain America Credit Union personal loan can start from 10.74%.

Does Mountain America Credit Union offer rate discounts for personal loans?

Yes. If you set up automatic payments for your loan from Mountain America Credit Union, you will qualify for a 0.25% APR discount.


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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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