• Customer satisfaction: A credit union is a non-profit organization which works solely for the contentment of its members and give out all the monetary benefits to their members. Therefore, in order to get a home loan from a credit union, all you need to do is become its member and fulfill the specified terms and conditions. Once you become a member of the credit union, you are entitled to get lifetime benefits.

• Get lower interest rates: If you apply for a home loan at a credit union, you will get the advantage of paying a lower rate of interest. This eventually means higher savings in the longer run. You can also compare the interest rates offered by various credit unions in Killeen and make a decision accordingly.

• Large network of branches: Most of the credit unions belong to larger networks and therefore have several branches as well as ATMs available for the convenience of their members. So, the clients can easily handle their financial transactions from multiple locations across the city.

• Lower fees: A credit union offers flexibility in terms of rates and fees charged for the home loan. The aim is to keep the fees as low as possible. You will be generally paid higher yields on savings and certificates.

• Do online transactions: You can pay your monthly home loan installments either through check or online. You can also obtain all the loan information online and make bill payments. This means you can handle your accounts conveniently from anywhere.

A secured auto loan is one in which there is collateral offered against the loan, which gives the lender higher security, hence resulting in better loan terms for the borrower. In most cases, the collateral in a secured auto loan is the car itself. That means that if, for any reason, the borrower is unable to make complete payments of the car, the car is repossessed by the lender. In some cases, the lender might require something more than just the car to be offered as collateral. This could include assets owned by the borrower, like a home, boat, land, etc.

A borrower has to fulfill certain basic requirements to get approval for a secured auto loan. These include:

• Proof of income- It is mandatory to have a verifiable income in order to be eligible for a secured auto loan. You could submit proof of income in the form of paycheck stubs, copies of tax returns, bank statements, etc.
• Steady employment- You must have had a steady source of income. If you do not have proof of steady employment, you might need to show proof of some other verifiable source of income, such as a personal business, inheritance, etc.
• Residency- You must have had lived in your current residence for at least one year. If you have just moved into your home, you need to show your prior residence proofs.

The greatest advantage of getting a secured auto loan is that the rate of interest for such a loan is significantly low, as compared to that for an unsecured loan. In addition to this, you can also expect to get more favorable loan terms, such as increased flexibility, on such a loan, since the lender has greater security in such a loan. Moreover, since the car is offered as collateral, the lender is generally more relaxed in terms of the amount of income of the borrower, or how well the income shows on paper.

When opting for a secured auto loan, you need to be sure not to default on your loan payments. By completing the loan payments till the end of the loan term, you can end up saving a lot of money as compared to if you had chosen an unsecured loan.