First Northern Credit Union

First Northern Credit Union was originally established in 1944 to provide financial services to the employees of the Commonwealth Edison Company, now known as ComEd. The credit union still looks after ComEd employees but has extended its auto loans to all residents of northern Illinois and employees of several prominent Illinois businesses.

First Northern Credit Union
Best for
4 /5
$ /mo
Starting Price
Visit Site
Table of Contents

    How do First Northern Credit Union auto loans work?

    As a member of the credit union, you’ll be able to access auto loans with rates starting from 2.79%, and repayment terms ranging from 24 to 84 months.

    However, poor credit and amount borrowed will affect the interest rate and you’ll have to apply directly to find out more.

    Credit score

    Credit score requirements aren’t stated by First Northern, however, credit unions are generally quite flexible with members and you may be approved for an auto loan if you have bad credit.

    How Much Can You Borrow?

    You can borrow up to 100% of the value of the car you’re buying, no upper limits are listed.

    What types of vehicles are eligible for financing?

    You may finance both new and used automobiles as well as motorcycles.

    How do I qualify?

    You must be a resident in the following counties in Illinois:

    • Boone
    • Cook
    • DeKalb
    • DuPage
    • Grundy
    • Kane
    • Kendall
    • Lake
    • Lee
    • McHenry
    • Ogle
    • Stephenson
    • Will
    • Winnebago
    • The city of Evanston

    You may also apply for an auto loan if you’re an employee of ComEd, Exelon, and Northwestern Memorial HealthCare.

    What documents do I need?

    You’ll need your social security number at hand and a form of photo ID, such as a driver's license, state ID, or passport.

    What are the fees?

    There are no origination fees, disposal fees, or early repayment fees.

    How long does the loan process take?

    While the application may only take a few minutes, it may be several business days before you’ll find out whether you’ve been approved.

    Once you’ve submitted the relevant documents, it may take several more days for the money to be in your account.

    How to apply for an auto loan?

    Fill in the short application form via the website, contact First Northern over the phone or visit one of the branches in Illinois to apply.

    What payment methods are supported?

    Alongside taking direct payments from your bank account each month, First Northern supports deducting money directly from your payroll and direct payments in a branch.

    Pros and Cons


    • There are no additional fees
    • A number of flexible repayment options are available.


    • Credit score requirements aren’t made clear
    • Auto loans are only available to residents in a limited number of counties in Illinois

    Is First Northern Credit Union right for you?

    First Northern has a good reputation among its members and offers some very low interest rates.

    However, for those living out of state, you won’t be able to apply at all.

    There are a growing number of auto loan comparison services and providers springing up that can cover you, though.

    Some good options include MyAutoLoan and Consumer Credit Union.

    Both of these organizations also have low interest rate options and cater to those with poor credit.

    They’re also available nationally.