GCTFCU Blog | All posts tagged 'Good Credit Score'

How to Save Money?

Learning how to save money is one of the key components of financial literacy. It allows you to make the most out of your financial resources while encouraging you to take well-informed financial decisions.

Let us explore some effective ways to build up your savings and a good credit score.

Learn to Distinguish Between Wants & Needs - Be clear on your financial priorities and divide your income wisely. To make it more effective, learn to distinguish between wants and needs. Your needs include housing, transportation, electricity, insurance, gas, clothes, food, water, health and other household items. These are the recurring expenses and are essential for survival. Things that you buy for leisure, entertainment, fun like travel, expensive clothing, dining out, automatic subscriptions, memberships, etc. are considered as wants. To save money, keep your focus on the needs rather than overspending on the wants. Keep track of your monthly expenses; do not stress yourself and save a comfortable amount of your income.
First Pay all the Debts - The first and foremost priority should be paying off all the debts while making small contributions to build up savings. Once you've paid off your debt, it will be more comfortable and convenient to save significant amount of your income.
Find Ways to Save on the Monthly Expenses - Find ways to save on recurring monthly expenses such as: investing in energy-efficient appliances. Managing lifestyle priorities also help in saving on monthly expenses.
Wise Savings & Investment Options - Explore various savings and investment options that have potential of higher returns, good interest rates, minimum risks and reliability.

Insured by the National Credit Union Share Insurance Fund (NCUSIF), Greater Central Texas Federal Credit Union, Killeen offers a broad array of financial services. With various types of saving accounts like Share Account, Money Market Accounts, Christmas Club, Vacation Club, Certificates of Deposits and Individual Retirement Account and investment & lending options including New and Pre-Owned Vehicle Loans, Secured & Unsecured loans, Greater Central Texas Federal Credit Union strives to cater different financial needs and interests of our members.

Visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX - 76542. You can also contact us by filling up the contact form available at www.gctfcu.net or call us: (254) 690 – 2274.

Credit Unions For Affordable Home Loans

If you are looking for a home loan, then there are a number of reasons that you should consider home loan from a credit union. For all those who are not aware about this option, credit unions are financial, non-profit organizations that offer checking and saving accounts, accept deposits, and provide credits for buying vehicles, homes, etc. The credit unions are member owned financial cooperatives that are entrusted with the responsibility of building up the local community. These unions do not have to pay taxes or other operating costs like other profit earning organizations.

Credit unions are exempted from most of the federal and state taxes and are carefully regulated. These unions do not have to pay taxes or other operating costs, unlike other profit earning organizations, which helps them provide better services to their members. The National Credit Union Administration keeps a watch on all the credit unions and insures that the interest of the members is safeguarded. Credit unions have minimum operating costs and this makes them offer home loans at low mortgage rates as well as low closing costs which provides them a competitive edge over other organizations.

There are a number of benefits of getting home loan from credit unions and some of them are

No fee
Low mortgage interest rates
Quick closings
Personalized service

Most of the credit unions offer a full range of mortgage solutions for buying a home, refinancing and even renovating a home. The credit union does a credit check once you join it and if you have a consistent income and maintain good credit then you can easily qualify for a home loan. Unlike conventional loans, the credit unions do not indulge in many formalities and follow lenient underwriting guidelines. To avail home loan from a credit union, firstly you will need to find a union that can offer you a reliable banking experience. You should research extensively to find a union that can help you and suit your requirements. You can enquire and find out about all the services offered by the credit union. Once you become a member of the credit union you will be provided with financial support and personalized services. By applying for a loan at a credit union you can be sure of easier credit check, low interest rates and personalized customer interaction.

To avail home loan from a credit union, first you need to find a union that can offer you a reliable banking experience. Research extensively to find a union that can help you and suit your requirements. Find out about all the services offered by the credit union. Once you become a member of the credit union, you can get financial support and personalized services. Unlike conventional loans, the credit unions do not indulge in many formalities and follow lenient underwriting guidelines.

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