Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Credit Union Glossary

30. May 2017 Administrator Blog (0)

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GCTFCU Blog | Affordable Financial Services In Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Affordable Financial Services In Killeen, TX

28. September 2021 Administrator Blog (0)
If you are looking for convenient and affordable financial services, consider availing the services of a credit union near you. Credit unions are non-profit organizations that provide a variety of financial services and products to their members. They are committed towards providing the services at the earliest and are dedicated towards customer satisfaction. Greater Central Texas Federal Credit Union provides a wide array of affordable financial services to its members in Killeen, TX.

Listed below are the financial services and products that can be availed at a credit union:

  • Savings and Checking Accounts: Savings accounts are interest-bearing accounts that offer safety and reliability to fulfill short-term financial needs. Checking accounts are ideal for those in need of quick access to money for daily needs. Credit unions offer savings accounts such as share accounts, money market accounts, Vacation Club accounts, Christmas Club accounts, Certificate of Deposits and Individual Retirement Accounts.
  • Loans: You can avail affordable secured and unsecured loans at credit unions for unexpected expenses. The loans are available at lucrative rates and are approved within 24 to 48 hours upon receiving an application. For the convenience of clients, services such as direct deposit, automatic transfer services and payroll deduction are offered. Secured loans are granted against collateral whereas unsecured loans do not require collateral. Examples of unsecured loans are credit cards, student loans and personal loans.
  • Direct Deposit: A direct deposit is a payment that is directly made to a payee’s account electronically with the help of software. The service is convenient for businesses that have to pay employees and are also useful for tax refunds. Direct deposits are a convenient and safe method of transferring funds. They offer faster transactions, ensure timely payments of salaries and reduce bookkeeping.
  • IRA: Individual Retirement Accounts are for those who want to build up their retirement funds. These accounts can be opened by anyone working and below the age of 70 ½. IRAs offer tax advantages and are considered to be one of the best savings tools. IRA’s are of two types: Traditional and Roth IRAs. They are great for those starting their career, couples, growing families and those nearing retirement. Credit unions offer competitive rates to members interested in IRAs.
  • Other Services: Apart from the services mentioned above, credit unions also offer debit cards, credit cards, wire transfer, ATM services, payroll deduction, notary service, online access, skip-a-payment options, outgoing and incoming ACHs, gift cards, etc. GCTFCU strives to offer its members affordable financial services and convenient lending services.
To know about financial services and products offered at Greater Central Texas Federal Credit Union, visit 3305 E. Elms Rd., Killeen, TX 76542, call at (254) 690-2274 or check out https://gctfcu.net
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GCTFCU Blog | Home Loan Process
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan Process

6. December 2014 Administrator Home Loans (0)

Home loans are the best alternatives for people who want to own a house but do not have sufficient funds at hand. Borrowing a certain sum of money and them repaying in easy monthly installments helps to relieve the financial burden of the homeowners. However, there is a step by step that must be followed in order to getting a home loan easily. Once you have made your mind to buy a home, your first step after that should be to analyze your credit rating to be able to apply for a loan.

Here is complete process of applying for a home loan in Killeen, TX:

  • Pre-Qualification: At this stage, your lender will determine how much loan amount you can afford. He will ask questions about your total income, assets and liabilities. According to this information, he will be able to provide you a rough estimate of the money that you can borrow. Although this is not a certification of loan approval, however, you will have an approximate price range at hand and you can search properties accordingly.
  • Pre-Approval: This is a bit more formal process than pre-qualification.For pre-approval, the lender will verify your credit rating, employment and financial information provided by you.This will also help to strengthen your position to negotiate for a property you like.Sellers are more keen to accept offers from buyers who are already been approved for a home loan.
  • Choosing a Lender: There are a number of lenders such as mortgage brokers, banks and credit unions to procure a home loan.Make sure you compare several loan plans before deciding on any one. Although it completely depends on your own choice and preference, credit unions are a good source of financing. They offer low interest rates and easy repayment options on home loans.
  • Submitting The Application: You can visit your lender’s office or call their representatives to visit your place and get the loan application signed. You would also require certain documents to be attached while submitting the application. These may include pay stubs from the previous month, recent bank statements, proof of your assets and liabilities etc.

After this your lender will appraise the value of the home that you are considering to buy. He will also verify the authenticity of the documents submitted by you. Finally, if everything is satisfactory, the process will be closedand your home loan will be approved.

For more details about the home loan process in Killeen, you can contact Greater Central Texas Federal Credit Union at (254) 690 – 2274.

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