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December 21, 2020 11:23 AM Dori Zinn - Forbes Advisor
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December 22, 2020 3:56 PM
You can take out a personal loan from a wide range of institutions, including a traditional bank, online lender or credit union. While traditional banks may have branches nationwide, credit unions are often local to their community. This means you must meet eligibility requirements to join a credit union and take out a personal loan.
You can have access to favorable interest rates and fewer fees if you choose to get a personal loan through a credit union. However, they typically don’t offer a preapproval process like most major banks. Learn how credit union personal loans compare to other lenders and how to determine if it’s the best move for you.