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

For A Cheaper Home Loan, Try A Credit Union

Credit unions are a reliable and credible source of cheaper home loans as compared to banks and other financial institutions. These are member owned and operated organizations working with the sole purpose of benefiting their affiliates.

Given here are some of the attractive features that make credit unions the best choice for home loans in Killeen, TX:

Customers Are The Topmost Priority

In contrast to corporate banks, credit unions work to serve their members. Thus they offer better customer services and spare no single effort to make sure that the depositors are satisfied. They are less focused on making a sale or profit and more on providing affordable home loans at competitive rates of interest. The members of the credit union are given personal attention and customized plans.

Lower Rates Of Interests

Due to being non-profit entities, credit unions are exempted from paying most of the taxes. This makes them able to offer home loans at significantly lower interest rates as compared to banks. Hence, you can make a lot of savings without having the burden of paying a huge home loan interest amount.

Less Restrictive Eligibility Requirements

Banks usually require higher annual income for a person to be suitable to apply for a home loan. Credit unions, on the other hand, do not have such strict eligibility requirements. Even if you have been denied approval from a bank, there are higher chances that you qualify for a home loan from a credit union.

Easy Repayment Options

In case you are facing a financial constraint any particular month, the credit unions also offer a ‘skip-a-payment’ feature for your convenience. Using this, you can easily choose to avoid making the repayment, with the condition that your loan term would be extended for that time period.

Customized Services

A credit union is much more flexible in terms of their loans policies and terms or conditions. It can also offer exceptions for credible members in case any unanticipated issues come up with your home loan application. As the credit union is member focused, it has the right to vote on any matters that can have a potential effect on the rates of interests.

We, at Greater Central Texas Federal Credit Union offer affordable and convenient home loans to the people of Killeen, TX. For more details, you can call us at (254) 690 – 2274.
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GCTFCU Blog | Reasons To Shop At A Credit Union For Auto Loans
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Reasons To Shop At A Credit Union For Auto Loans

When looking around in the market to buy a new or used car, the first and foremost thing that needs to be decided is an appropriate source of finance. It is essential to research the different loan options and choose one accordingly. However, it is recommended that you consider a credit union in order to get the best possible deal on your auto loan.

Given here are some of the reasons why you should consider taking auto loan from a credit union:

  • Better Chances Of Loan Approval: A credit union does not have stringent income requirements like a bank. It provides flexible and affordable loan options to suit the need of all clients. Moreover, the staff at a credit union is more receptive to the clients’ requirements and is often willing to make reasonable changes in the terms of the loan.
  • Lower Rates Of Interest: This is the biggest reason why most people choose credit union for an auto loan. A credit union offers much lower interest rates than banks or any other financial institution. Whether you are going to purchase a new or used car, the approximate cost of loan from a credit union would be almost half of that at a bank. Subsequently, the monthly or annual payments are also quite low and easy-to-pay. 
  • Simpler Loan Process: The process of applying for an auto loan is also much simpler and convenient at a credit union. There are no complex forms to be filled or documents that need to be submitted. The staff at the credit union also provides complete assistance to clients about the process in a smooth manner. Usually, the loans are approved within a few days after all the documents have been verified. 
  • Non-Sales Approach: Unlike most traditional banks, the staff a credit union does not work towards making a sale or earn any sort of bonuses. They work solely for the benefit of their clients and easing their financial difficulties. All the profits earned by the credit union are returned in the form of low interest rates, dividends or other services to the clients. The representatives will understand your requirements and put forward the most suitable loan option.
We, at Greater Central Texas Federal Credit Union, offer affordable and convenient auto loans in Killeen. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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GCTFCU Blog | Ride Your Dream Car With Secured Loan
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Ride Your Dream Car With Secured Loan

If you have an image of your dream car and have done your research on the available models within your budget, it might be just the perfect time to make that purchase, and bring your gleaming set of wheels home! The last thing that needs to be a deterrent in achieving this dream is the lack of sufficient funds. After all, that is what auto loans are all about, and by fulfilling just a few requirements, you can get your dream car financed in a way that’s easier than you can imagine. When faced with a choice between secured car loans and unsecured ones, most buyers find themselves confused, and unable to make a choice between the two.

Let’s start by seeing how these two loans differ from each other. A secured car loan requires you to offer some “security” to the lender, which is usually the car itself. By putting your car up as collateral against your loan, you give the lender the right to claim your car if you fail to make the payments in time. On the other hand, an unsecured car loan does not require you to have any collateral, and compensates for that with a higher rate of interest, and less flexible payment options.

It is thus evident, that if you intend to pay back your loan (which should be the case anyhow), a secured auto loan is the better option to go by. Such a loan offers much better rates of interest, and also allows you to decide on a repayment period and payment interval that is convenient for you. The reason why the lender is more flexible in such a loan, is that he is more secure that you shall repay the loan, since your car is put up as collateral. The end result is a situation in which both parties are happy, with the lender being secure, and you having to pay lower monthly installments.

Even though different lenders have different requirements, the basic requirements that you shall have to fulfill to qualify for a secured car loan are-

  • Proof of monthly income (pay stubs and bank statements/ income tax returns if you are self employed)
  • Proof of employment (employment certificate for the last 12 months/ proof of steady income in case you are self employed),
  • Residential proof (should prove that you have resided at your current residence/ a past residence for a period of at least 12 months.)

To avail cheap auto loans for both used and new cars in Texas, visit us at Greater Central Texas Federal Credit Union. We are located at 3305 E Elms Road, Killeen, TX 76542. You can also call us at 254-690-2274.

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