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

Services Offered By Credit Unions

18. December 2019 Administrator Blog (0)
Being non-profit and member-owned organization, a credit union offers a variety of financial services to its members at affordable rates. People consider credit unions to meet their financial goals because of their attractive rates and fees, sense of community, shared branching and personal services offered. 

Here is a comprehensive list of services offered by credit unions to their members:

  • Savings Accounts: Under a credit union, savings accounts pay dividend to members based on the amount deposited and the prevalent interest rates. Transfers out of savings accounts are limited as per the federal law but there is no limit to the number of deposits.
  • Checking Accounts: These accounts offer the freedom to spend money without monthly limits. Members can gain access to their money via debit cards, online bill payment, writing a check and paying cash. The credit union pays interest on a members cash without any limits to the monthly transactions. Debit cards (offered for free), can be used to withdraw money from ATMs and make online payments.
  • Certificates of Deposit: These deposits pay higher interest to the members, provided the amount deposited is not withdrawn for a specific period of time. They are considered as one of the safest investments that pay more interest. Users who want some freedom to withdraw money without being charged interest can avail other accounts such as Money Market Accounts.
  • Loans: Credit unions offer members a variety of loans such as auto loans (secured and unsecured) and credit cards.
  • Other Services: In addition to the above-mentioned services, credit unions also offer Outgoing and Incoming ACHs, Bill Pay, Gift Cards, IRAs (Traditional and Roth), Club Accounts (Christmas Club and Vacation Club), ATM services, Payroll Deduction, Overdraft Protection, etc.
Greater Central Texas Federal Credit Union offers a variety of beneficial services to its members. The member services include savings account, checking account, vehicle loans, etc. For further information on services offered by a credit union, visit us at 3305 E. Elms Rd., Killeen, TX – 76542. You can also call us at: (254) 690 – 2274. 

Comments are closed
GCTFCU Blog | Refinancing Your Auto Loan
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Refinancing Your Auto Loan

14. September 2017 Administrator Auto Loans (0)
When you refinance your car, the present auto loan is replaced with a new one having an entirely different set of terms and conditions. You need to repay your loan to the new lender within the stipulated time period while keeping your vehicle as collateral. Refinancing your auto loan is a simple and quick process that has many benefits to offer. You have to pay an almost negligible amount as fees to refinance your auto loan.

In order to speed up the process of refinancing your auto loan from a credit union, ensure that you have the documents ready beforehand. All the application forms must be duly filled and it is essential to keep the car loan account number handy. Also, have all the information pertaining to your vehicle such as the car model, year of manufacturing, VIN etc.

The benefits of refinancing your auto loan are:

  • Reduced loan term: If you are looking to pay off your loan faster in short period of time, refinancing your auto loan is the best option available. This can happen if you have some major positive changes in your financial situation. Although this will lead to an increase in the monthly payment, the overall interest rate will come down. This will eventually lead to financial gains and contribute towards your savings.
  • Lowers the monthly payments: If you are finding it difficult to pay the monthly installments for your auto loan, it is good to opt for a refinance. This can happen if you have suffered a financial setback and need to bring down the monthly payments. A refinance will increase your loan term and provide you more time to repay. This extension in the loan period can help you manage your finances in a better manner.
  • Decreases the interest rate: A lower rate of interest is beneficial as it can reduce your total interest charge and help in repaying the auto loan at a faster pace. Therefore, if you think you did not get a competitive rate of interest in the first time, it is probably good to consider refinancing your auto loan.
  • You can own a car previously on lease: In case your car lease is about to expire, it can be easily purchased by using the option of auto loan refinancing. The loan you get from refinancing can be used to buy out the lease and hand over the payments to the lender. The advantage here is that you can own the car at the end of your loan term.
  • Handle your finances easily: Refinancing an auto loan can help you in managing your finances more efficiently. The amount you get from the refinanced auto loan can be utilized for repaying other smaller personal loans. Therefore, you get to pay only a single EMI instead of multiple EMIs that you were paying previously.
For refinancing options in Killeen, TX, get in touch with Greater Central Texas Federal Credit Union. We can be contacted at (254) 690 – 2274.
Comments are closed
GCTFCU Blog | Home Loan Tips For First Time Buyers
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan Tips For First Time Buyers

8. October 2014 Administrator Home Loans (0)

Most people who wish to gain possession of a new house seek for a reliable source of money to help them realize their dream. As a first time property buyer, there are a few things you should consider before getting a loan. They are mentioned below -

Decide the type of house

Before you even apply for a home loan you should be clear about the type of house that you wish to buy. Your options include apartments, duplexes, condos and mansions. Deciding on the most suitable kind of home helps you get suitable terms based on the price of the house (and consequently the return term for the loan). This can even help you score a favorable return term for investing in 'need based' acuity.

Decide the number of years

You as a loan seeker should decide on the number of years that you want to return the borrowed amount over. If you have a decent income and can afford it you should try to pay the debt off in a short term such as 4 or 6 years. The quicker a loan is paid off the lower is the gross interest amount. But before making your mind you should take your overall budget and foreseen expenses into consideration as well because selecting a longer term can help you deal with the costs even if you wind up paying more interest. 

Determine your loan eligibly

You should deal with all impending charges, bills and loans and focus on maintaining a consistent streak to get your credit rating higher to increase your loan eligibility. This will help you file for a loan successfully in the first attempt. In addition you should not forget to carry all the important documents to prove your eligibility.

Know about the charges

You should infer about the any additional charges before applying for the loan. Additional charges include those related to administration, service and any other fees. Also, choose the lender based on the amount of overhead charges charged with the home loans.

Consider credit unions

Finally, look into any credit union in your local area as the interest rate offered by credit unions is significantly lesser than a typical bank. As the very basis of their existence is to help the community the staff at credit unions is always rooting for their clients and goes out of their way to guide them. You can also use such credit unions to address other financial needs such as opening a saving or current account.

We, at Greater Central Texas Federal Credit Union provide affordable home loans. For more details, kindly visit us at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Comments are closed