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

Checklist Before You Visit A Credit Union

29. January 2018 Administrator Blog (0)
Credit unions are highly preferred by many due to their lower cost of borrowing. They are owned by the members and adopt a personal approach towards their loans. They are non-profit cooperatives whose main goal is to provide the members with financial services.

1. Fit Into The Criteria For Membership
The first thing you will have to ensure is that you fulfill the requirements of becoming a credit union member. These requirements may vary amongst different credit unions. Find out what your local credit unions requirements are and get them fulfilled in order to become a member and avail low interest loans.

2. Demonstrate Credit Worthiness
It is imperative to work on your credit scores before visiting a credit union. You will be required to show a proof of good credit before being considered as a member. The low interest rates come at a price of a good credit record as credit unions have to be assured that the loan will be repaid.

3. Prepare Your Documents
You are required to submit documents for opening an account with any credit union. You should seek a list of documents required and prepare all of them before visiting.

However, following is a list of some basic documents that almost all credit unions ask for -
   
  • Identity proof
  • Address proof
  • Date of birth proof

4. Make Arrangements To Fulfill Minimum Balance Requirement
Most credit unions expect a modest opening deposit depending on whether it’s a savings or checking account. Members are expected to maintain some minimum balance in their accounts. Non compliance may lead to additional monthly service charges.

5. Compare Your Options
Before picking a credit union, do some research on the products, services and rates they offer. Look out for what suits your specific requirements. You might even have to overlook factors such as the location of branch and working hours. Nowadays a lot can be done on mobile devices. Always be aware of the protection you are being offered by a credit union and the limits on that protection if any.

Greater Central Texas Federal Credit Union is a member owned cooperative that started in 1957. The loans offered by us are flexible and customized to suit the financial interests of our clients. For more information about our services, visit us at 3305 E. Elms Rd., Killeen, TX 76542 or call us at (254) 690-2274.

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GCTFCU Blog | Is Buying A Used Car A Good Idea?
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Is Buying A Used Car A Good Idea?

21. January 2012 Administrator (0)

Almost everyone dreams of owning a high-end car but in most of the cases financial constraints doesn’t let them own one. Fortunately, there is a solution to it. If you can’t afford buying a new car, then go for a used one!
Used cars are known to give the best value for money. It is a fact that a new car depreciates faster, usually in first three or four years. After this time period, a car is worth only around 60% of its original price. So you get a chance of owning a late-model car at relatively low prices.

But while buying a used vehicle, you need to consider various factors to avoid any kind of problem later on. These factors are:

  • Reliability: Buying a late-model used car is not much of a risk than the older ones. If you maintain the car, it will give a great performance with no major breakdowns.
  • Warranties: Car usually faces very few problems in its early years and all the minor problems are covered by the warranty provided. But the case is completely different with a used car. It either is coming off warranty or is already off. You may have to pay for repairs from your pocket.
  • Repair: The tires, brakes and battery are needed to be considered first as these are the high-wear items in the car. Inspect the car well before purchasing and make sure that the car does not need much repair.
  • Depreciation: It depends on various factors such as the popularity of a model, its quality, supply etc. A car tends to depreciate in value in its early years.
  • Safety: Always look for safety features such as antilock brakes, traction control, and side air bags are add on features.
  • Rate of interest: If you are opting for auto loan, you may get lowest interest rates if you choose a reliable loan providing source.

Always remember that you should not look for the cheapest car. Particularly when you are buying a used car, you must go for the best deal keeping in mind the good condition, least repairs, fewer troubles etc.

To avail cheap and secured used auto loans, visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call us at 254-690-2274.

Lowest Used Car Loan - Cheap Auto Loan

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