Consumers Credit Union Loans and Legitimacy Explained

Consumers Credit Union is a not-for-profit financial institution that has been serving its members for over 80 years.

The credit union has a strong history of stability and security, having survived the financial crisis of 2008 without any government bailouts.

Consumers Credit Union is federally insured by the National Credit Union Administration (NCUA), which provides an added layer of protection for its members.

The credit union has a solid reputation for offering competitive loan rates and terms, making it a popular choice for consumers in need of financial assistance.

Consumers Credit Union has a range of NAICS codes that categorize its business activities. The NAICS code for Consumers Credit Union is 5221, which is a broad category that includes all credit unions.

To further narrow down the category, Consumers Credit Union is also classified under NAICS code 522, which specifically includes all credit intermediation and related activities.

Breaking it down even further, Consumers Credit Union falls under NAICS code 522130, which is a subcategory of credit intermediation and related activities that includes credit unions.

You can also find Consumers Credit Union under NAICS code 52213, which is a more specific subcategory of credit unions that provides consumer credit.

Additionally, Consumers Credit Union is classified under the broader category of NAICS code 52, which includes all finance and insurance activities.

Consumers Credit Union offers a range of auto loan options, including new car loans, used car loans, classic car loans, motorcycle loans, RV loans, refinancing, and commercial vehicle loans.

Their starting APR is 5.49% for new and used car loans, with a 0.25% autopay discount available if you sign up for automatic payments. You can borrow up to 100% of the purchase price of a car, and CCU partners with TrueCar to offer a car buying service.

To qualify for a CCU auto loan, you'll need to have at least a 620 credit score and become a credit union member, which requires a $5 upfront fee and a minimum balance of $5 in a Membership Share Savings account.

Here are some key loan details:

Consumers Credit Union offers competitive auto loan rates starting at 5.49% APR, with a 0.25% discount for autopay.

You can get a loan for a new or used car, as well as for classic cars, motorcycles, RVs, and commercial vehicles. The loan terms range from 12 to 84 months, and you can borrow up to $500,000.

If you want to refinance your existing auto loan, Consumers Credit Union can help you with that too. They offer refinancing options with competitive rates.

To qualify for a Consumers Credit Union auto loan, you'll need to have at least a 620 credit score and become a credit union member. You can become a member by paying a $5 upfront fee and depositing at least $5 into a Membership Share Savings account.

Here are the loan types offered by Consumers Credit Union:

Consumers Credit Union offers a 10-day grace period, which means you won't be charged a late fee unless your payment is behind by at least 10 days.

A hard pull is a type of credit check that can have a temporary impact on your credit score. It's called "hard" because it leaves a permanent mark on your credit report.

Consumers Credit Union, for example, performs a hard pull when you formally submit a loan application, even if you're not preapproved. This is a common practice among lenders to assess your creditworthiness.

Hard pulls can lower your credit score by a few points, but the impact is usually temporary and may be offset by the benefits of getting preapproved for a loan.

Consumers Credit Union offers competitive rates on auto loans, with starting APRs of 5.49% on new and used auto loans. This is significantly lower than the national average.

You can borrow up to $500,000, with loan terms ranging from 12 to 84 months. This gives you flexibility to choose a loan term that suits your needs.

If you sign up for automatic payments, you can receive a 0.25% autopay discount on your loan rates. This can help you save money on interest over the life of the loan.

The credit union offers full financing, allowing you to borrow up to 100% of the purchase price of a car. However, you'll need to become a member of the credit union to qualify for an auto loan.

Here's a summary of the loan details:

The credit union also offers a car buying service, which allows you to search for local dealerships and finance your car through CCU.

Consumers Credit Union has had its NCUA credit union charter since 1970. This is a significant milestone that indicates a long history of legitimacy.

Consumers Credit Union has an active credit union license in the state of Illinois, ensuring it operates within the law and meets state regulations. This is an important aspect of its legitimacy.

Consumers Credit Union will charge you without explanation, which can lead to unexpected and significant fees.

They will charge you $30 for each overdraft, and these fees are non-refundable. This means that if you have multiple overdrafts in a single day, you could be looking at over $120 in fees.

You might have thousands of dollars in other accounts, but it won't matter - you'll still be hit with these excessive fees.

According to one customer, you can expect to wait at least 45 minutes on the phone each time you try to contact customer service.

You might have come across reviews that seem to contradict their overall rating. A customer gave one star to a company, but the review itself is overwhelmingly negative. This can be confusing, but it's not uncommon.

One reason for this discrepancy is that the reviewer might be giving one star as a formality, indicating they wouldn't recommend the company, but the review itself is meant to be constructive criticism.

In one example, a customer obtained two loans from CCU, but experienced numerous issues over two years, including lost titles and unresponsive customer service. They eventually closed their accounts and transferred their funds.

Consumers Credit Union has had its NCUA credit union charter since 1970, which is a sign of legitimacy.

Having a credit union license in the state of Illinois is also a requirement for legitimacy.

Consumers Credit Union offers competitive APRs for auto loans, starting at 5.49% for new and used vehicles, as long as the car is 2022 or newer.

The average loan amount for a new car from CCU is just under $40,600, while used cars have an average loan amount of around $28,077.

CCU provides longer car loan terms than some lenders, with repayment terms of up to 84 months available.

Annual Revenue is a crucial aspect of any financial institution. The Consumers Credit Union annual revenue was $25.3 million in 2025.

Having a clear understanding of annual revenue can help individuals and businesses make informed decisions about investments and partnerships.

Consumers Credit Union has SIC codes 606 and 60.

The SIC code 606 refers to a specific type of financial institution.

Having a SIC code helps identify a business's primary activities, which can be useful for various purposes, such as research or financial analysis.