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U of I Community Credit Union Personal Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 11 Aug 2023
Fact checked

U of I Community Credit Union logo

U of I Community Credit Union was chartered in 1932 and is headquartered in Champaign, Illinois. U of I Community Credit Union has assets of over $431 million. They provide a full range of financial services like free checking accounts, VISA credit cards, competitive loan rates, mobile banking, and high-yielding CDs.

A personal loan, like a U of I Community Credit Union personal loan, can be a very smart option to overcome a particular financial need, but one should keep in mind the pros and cons associated with it in order to get the best results. Nervous about monthly repayments? Let the U of I Community Credit Union personal loans calculator reveal how much you should repay for the life of the loan.

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.

U of I Community Credit Union personal loans at a glance

It is important to know about the features and benefits of a personal loan from U of I Community Credit Union. Read on to find out if any of the items below correspond to what you’re looking for in a personal loan:

  • Loan amounts: maximum $48,000
  • Loan terms: up to 60 months
  • Loan fees: $0 application fee; $0 annual fee
  • Interest rates: starts at 7.75% APR

Requirements for an U of I Community Credit Union personal loan

You must be a member of U of I Community Credit Union to be eligible for a personal loan. Here are the criteria you must meet to become a member of U of I Community Credit Union:

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

U of I Community Credit Union does not have a specific list of borrower criteria. However, most lenders expect loan applicants to submit documents related to the following requirements:

  • Proof of identity: This is to determine if you’re a United States citizen or permanent resident and if you’re at least 18 years of age. You’ll typically need to present two forms of identification, such as birth certificate, driver’s license, passport, or social security card.
  • Proof of your living situation: This is to determine if you are a permanent US citizen or resident. You can usually use one of the following: utility bill, proof of insurance on your home, lease/rental or vehicle, lease or rental agreement.
  • Proof of capacity to pay: Lenders need to be confident that you will repay the loan. If you are traditionally employed, submit a copy of your pay stubs, W-2s and 1099s, employer statement. If you are a business owner or a self-employed applicant, submit a copy of your tax returns, bank statements, or annuity statements.
  • Good credit score and DTI ratio: Lenders require applicants to meet a certain credit score threshold (beyond 700) and DTI ratio for approval (lower than 40%). However, these requirements aren’t set in stone.

 

U of I Community Credit Union 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
U of I Community Credit Union

U of I Community Credit Union personal loans (Unsecured Personal Loan)

U of I Community Credit Union personal loans (Unsecured Personal Loan)
Estimated Month Repayments
$599 Inclusive of fees
Interest Rate
5.00%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $48,000
Go to site
U & I are teammates for life, so we'll be here to help you make ends meet with a personal loan or line of credit when life requires a little more funding than what you have on hand. You can use a personal loan or line of credit for special purchases, unexpected expenses, a vacation, life events like weddings, and more!
U of I Community Credit Union

U of I Community Credit Union personal loans (Share Secured Personal Loan)

U of I Community Credit Union personal loans (Share Secured Personal Loan)
Estimated Month Repayments
$613 Inclusive of fees
Interest Rate
6.50%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
$1,000
to $180,000
Go to site
U & I are teammates for life, so we'll be here to help you make ends meet with a personal loan or line of credit when life requires a little more funding than what you have on hand. You can use a personal loan or line of credit for special purchases, unexpected expenses, a vacation, life events like weddings, and more!
U of I Community Credit Union

U of I Community Credit Union personal loans (Certificate Secured Personal Loan)

U of I Community Credit Union personal loans (Certificate Secured Personal Loan)
Estimated Month Repayments
$613 Inclusive of fees
Interest Rate
6.50%
APR
Repayment Period
1 month
to 80 months
Loan Amounts
$1,000
to $180,000
Go to site
U & I are teammates for life, so we'll be here to help you make ends meet with a personal loan or line of credit when life requires a little more funding than what you have on hand. You can use a personal loan or line of credit for special purchases, unexpected expenses, a vacation, life events like weddings, and more!
U of I Community Credit Union

U of I Community Credit Union personal loans (Prime Credit Line of Credit)

U of I Community Credit Union personal loans (Prime Credit Line of Credit)
Estimated Month Repayments
$848 Inclusive of fees
Interest Rate
29.90%
APR
Repayment Period
1 month
to 80 months
Loan Amounts
$5,000
to $48,000
Go to site
U & I are teammates for life, so we'll be here to help you make ends meet with a personal loan or line of credit when life requires a little more funding than what you have on hand. You can use a personal loan or line of credit for special purchases, unexpected expenses, a vacation, life events like weddings, and more!
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 and cons of U of I Community Credit Union personal loans

Pros

  • Lower rates compared to those from other lenders
  • No application fee
  • No annual fee
  • Debt protection plan available
  • Deferred payment option

 

Cons

  • Non-members cannot apply
  • No information on minimum loan amount
  • Credit/income requirements unclear

Frequently asked questions

How much does U of I Community Credit Union offer for its personal loans?

Qualified borrowers of a U of I Community Credit Union personal loan can receive funds up to $48,000.

What are my options for repaying the full loan amount from U of I Community Credit Union?

The loan from U of I Community Credit Union can be repaid for a period of up to 5 years (60 months).

What are the potential rates for a personal loan from U of I Community Credit Union?

Potential rates for a U of I Community Credit Union personal loan can start from 7.75% APR.

Can I skip a loan payment?

Yes. You can skip up to two loan payments per calendar year.

Does U of I Community Credit Union provide a loan protection plan?

Yes. U of I Community Credit Union provides a debt protection program to protect yourself from the financial consequences of losing your ability to pay, due to covered events such as health emergencies or death.

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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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