What is an Alliant loan and how does it work?

An Alliant loan is a financial product offered by Alliant Credit Union, which is one of the largest credit unions in the United States. As a member-owned financial cooperative, Alliant provides various types of loans including personal loans, auto loans, home equity loans, and mortgages. These loans are designed to meet different financial needs of its members. When a borrower applies for an Alliant loan, they are subject to a credit check and must meet certain eligibility criteria such as membership requirements, income stability, and creditworthiness. Upon approval, funds are provided to the borrower with a fixed or variable interest rate and a set repayment term. Borrowers then make regular payments until the loan is fully repaid. The specifics of how an Alliant loan works depend on the type of loan one chooses, with each having uniquely structured terms and conditions tailored to its purpose.