If you plan to consolidate your existing loans in one, you should try credit unions. According to many studies, credit unions offer loans for people with bad credit and are even cheaper than banks.

Credit unions offer loans of up to $100,000, with an APR capped at 18%.

Credit unions offer loans with low APR and great terms for people with excellent credit.

Credit unions evaluate your real ability to repay the loan on time, by paying more attention to your income and debt to income ratio, than your credit score.

Pros:

• Up to $100,000.
• Very low APR for people with a good credit score.
• Cheap APR capped at 18%.
• Flexible terms.
• People with bad credit can qualify for a personal loan.
• Lower fees and better terms than banks, according to many studies.
• You can be a member of both banks and credit unions.

Cons:

• You have to become a member.
• Most credit unions have fees.
• Many credit unions are created by and for certain groups of people, such as employees of a certain company or residents of a certain town — and some are still fairly restrictive. This means that people who are not in these groups can’t apply for membership.
• Hard credit pull. Be careful. Most online lenders perform a soft credit pull when you apply for a loan. Most credit unions perform a hard credit pull on the application process. This lowers your credit score. Tip: Call the credit union, give them details on your financial situation, and ask your chances of getting approved. Apply only if you are almost sure that you meet their criteria. Don’t waste time and points from your credit score if you don’t meet their criteria.
• Fewer products are available than banks.
• Many fees when you consolidate your debt.
• Credit unions are national and local.

ElitePersonalFinance lists both of them.

Here are all local credit unions by state.

Here are the best national credit unions.

If you plan to search for a bank loan, we highly recommend starting with SuperMoney. They are the best loan comparison site. Once you register with them, you will be matched with many online lenders, credit unions, and banks. In fact, they work with all big lenders in America. They can help you save time and find the best offer. Apply now and get offers in minutes!

You won’t receive any spam from them!

They don’t get a percentage from your loan. If you get a loan from them, they only get a small percentage from the lender, not from you, which means that your loan wouldn’t become more expensive.

ElitePersonalFinance found the best debt consolidation loans from credit unions of November 2025!