USAlliance Financial Personal Loans Reviews

When it comes to personal loans, USAlliance Financial is a strong contender, with competitive annual percentage rates (APRs), minimal fees and flexible term options. It also offers a solid variety of borrowing options, including secured loans, a credit-building loan and a 60-seconds-approval emergency loan, in addition to its regular unsecured personal loan.

Our only criticism is that USAlliance Financial doesn’t disclose its maximum borrowing limits for all of its products, making it difficult for potential customers to decide if the product will serve their needs. In addition, while USAlliance’s interest rates are competitive, there are other lenders and credit unions with lower starting APRs that you may be eligible for, especially if you have an excellent credit score.

USAlliance Financial offers a variety of options for personal loans and lines of credit, both secured and unsecured, depending on your borrowing needs.

As of publishing, USAlliance’s personal loan rates range as low as 11.99% to 14.74% fixed APR, depending on the term length chosen (shorter terms offer lower rates). These rates include a 0.25% discount if you enroll in automatic loan payment from a USAlliance account.

USAlliance’s three lines of credit have APRs ranging from 10.24% to 15.24% at the time of publishing. These APRs do not include a discount.

The MyLife Ready Cash loan has a 27.50% APR for all borrowers as of publishing.

USAlliance Financial doesn’t charge any prepayment penalties should you decide to pay off your loan early. There is also no mention of any origination fees for its personal loans. The MyLife Ready Cash loan has a nonrefundable $18 fee to apply.

There are late payment fees, which vary depending on your loan agreement. If you’re struggling to make a payment on your loan, USAlliance offers the option to skip a payment with at least five days’ notice for a $50 processing fee.

If you want to apply for a USAlliance Financial personal loan, you can first pre-qualify through an online form, with no risk to your credit score, to see if you’re eligible. Once you decide to officially apply for a personal loan, you’ll need to provide the following information:

• Your Social Security number
• Your current and previous employers’ information
• Your gross income
• The purpose of your loan
• Your co-applicant’s information (if necessary)

You will need to become a USAlliance Financial member in order to take out a personal loan. Membership comes with benefits such as early paycheck deposits, free credit score tracking, layoff insurance and discounts with various U.S. retailers, including Sam’s Club and CarAdvise.

To access the MyLife Ready Cash loan, you need to have been a USAlliance member for at least the past eight consecutive months and have online or mobile banking with USAlliance Financial.

USAlliance Financial is a competitive lender, offering a wide range of loan products, long term lengths, minimal fees and low APRs. However, it’s not the only lender out there, and depending on your needs, another lender may better suit you.

For example, when compared with another nationwide credit union, PenFed, USAlliance offers more borrowing options but has a higher starting APR. Here’s how else the two stack up against each other:

USAlliance Financial is a legitimate credit union insured by the National Credit Union Administration (NCUA), which means your money is secured up to $250,000 for each account. It was founded in 1966 to serve IBM employees in the tri-state area of New York, New Jersey and Connecticut and has since expanded access to 5,300 branches across the country and has 150,000 members worldwide.