Best Personal Loans in Albuquerque, NM

Nusenda Credit Union is the best personal loan lender in Albuquerque, New Mexico, with a MoneyGeek score of 93 out of 100. It is known for several positives, including charging no fees and acceptance of joint applications, which makes the lending process more convenient and cost-effective for many borrowers.

However, there are some factors borrowers should be aware of, such as the need for membership to apply and the lack of rate discounts, which may limit immediate accessibility and cost savings for some individuals.

Laurel Road is the best online lender for personal loans in Albuquerque, New Mexico, with a MoneyGeek score of 93 out of 100. It offers personal loans ranging from $5,000 to $45,000, with repayment terms between 36 to 60 months. It also features a quick turnaround time for receiving funds, typically within seven days of approval.

Two factors borrowers should consider about Laurel Road include its offering of a 0.25% discount on interest rates for using autopay and not charging any origination fees. However, the lender requires a higher minimum loan amount compared to some competitors, which might not suit those needing smaller loans. Additionally, it imposes a late fee, either 5% of the late payment or $28, which can add up for those who might miss a payment.

US Eagle Federal Credit Union is the runner-up for the best personal loans in Albuquerque, New Mexico, receiving a MoneyGeek score of 92 out of 100. Borrowers should consider that it is federally insured by the NCUA, providing added security for funds. It also features a skip-a-payment program, which can offer flexibility during financial hardships.

However, membership is needed to apply, limiting accessibility, and the website provides little information about its loans, making it difficult for potential borrowers to gather necessary details.

State Employees Credit Union of New Mexico is a suitable choice for personal loans in Albuquerque, New Mexico, with a MoneyGeek score of 90 out of 100. It offers several appealing aspects for borrowers.

First, it is federally insured by the NCUA, providing a sense of security for your funds. Second, there are no processing fees, which can save you money upfront. However, the need for membership to apply can be a hurdle for some potential borrowers. Additionally, its website provides little information about the specifics of its loan offerings.

First Financial Credit Union is another good choice for personal loans in Albuquerque, New Mexico, with a MoneyGeek score of 90 out of 100. It is federally insured by the NCUA, ensuring your deposits are protected. Another positive point is its BBB rating of A+, indicating reliability.

Potential borrowers should be aware that membership is needed to apply, which can be a barrier for some. Additionally, the website provides little information about its loan offerings, which might require more research to understand fully.