Altra Federal Credit Union

Altra Federal Credit Union is an accessible and long-standing business that has great reviews and much return custom. It offers a variety of useful auto loans on new and old cars, along with a large number of other business and personal loans and banking features.

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    How do Altra Federal Credit Union auto loans work?

    The auto loan rates at Altra Federal Credit Union vary depending on where in the nation you are, and there’s no clear rate for all. However, having tested a variety of ZIP codes, it seems that 2.79% is the national average. 

    Credit score

    These interest rates are based upon a credit score of 740, which is a respectable score. If your credit is much below this, you may find that your interest rate can be a lot higher.

    How much can you borrow?

    If you want to take out one of the best auto loans with Altra Federal Credit Union, it's possible to receive the full market price of your new car.

    What types of vehicles are eligible for financing?

    The auto loans on offer at Altra Federal Credit Union cover cars, trucks, motorcycles, recreational vehicles, and boats.

    How do I qualify?

    As Altra Federal services all 50 states, there are a number of ways to gain membership.

    Once you become a member, you’re always a member, no matter where you live or work.

    • Residence Eligibility

    You and/or your immediate family/household members live, work, worship, or attend school in a select eligibility area.

    • Qualified Schools / School District Eligibility

    You and/or your immediate family/household members attend school or work for a qualifying school or school district.

    • Relationship Eligibility

    You’re an immediate family member/household member of a current Altra member.

    • Employment Eligibility

    You’re an employee of Trane or a Trane Authorized Dealer.

    • $10.00 cash, check, or money order made payable to Altra Federal Credit Union is included with this application. ($5 minimum savings balance and $5 membership entrance fee)

    What documents do I need?

    When applying for an auto loan with Altra Federal you’ll need your social security number, your driver’s license, and your entry fee or proof of eligibility. 

    What are the fees?

    It isn’t made clear on the Altra Federal Credit Union website whether there are any late fees, and so you should definitely check this before signing up. 

    How long does the loan process take?

    The online process with this company is a little more lengthy than some other lenders, but the ordeal shouldn’t take more than ten minutes. 

    How to apply for an auto loan?

    Altra Federal can be applied for online, on the phone or in-person in a local branch.

    What payment methods are supported?

    You can use most common methods of payment at Altra Federal, although if you want to use cash or cheque, you must pay in person.

    Pros and Cons


    • No payments for 90 days
    • Anyone with $10 can become a member


    • The online process is a little complicated

    Is Altra Federal Credit Union right for you?

    The Altra Federal Credit Union is a credible, not-for-profit company that has some good deals. It may be worth entering your ZIP code and seeing the auto loan value in your area. However, despite the low cost of some areas, the site is inconsistent, and it seems to be luck of the draw for which rate you receive. 

    If you’d prefer a more stable and less convoluted website, the Open Road or Carvana sites are reliable and they offer consistent pricing across the country.