• They are owned by their members. Anyone who opens an account with a credit union, albeit a small one, becomes a partial owner. So, every member has an equal right to vote for the leadership position of the union. However, to become a member, one needs to qualify. For this:
  • You should live, work or worship in a particular city or area,
  • Be a member of a certain group e.g. the same college, armed forces, a church, etc.
• You will have to fill out an application form, prove your eligibility, provide the name of a relative, employer or organization you work for and personal information such as your place of residence and work.
• Thereafter you will have to choose the financial services you are interested in.
• Once you are eligible for being a member of the credit union, the next requirement is to open an account with it.
• Credit unions are federally insured or protected by National Credit Union Share Insurance Fund (NCUSIF).
• They consist of an upper management body which formulates strategies, makes policies and so on. This board generally comprises of elected volunteers.
• Service precedes profitability in credit unions and this is the reason for which they offer competitive rates for their services and products.
• Most credit unions offer savings and loan accounts to their members along with other additional products and services.
• Credit unions provide services such as Checking Accounts, ATM Cards, Credit Cards, Auto Loans, Payroll Deduction, Direct Deposit, Notary Service, Mastercard Cash Advance, On-Line Access, Mastercard Gift Cards, Wire Transfer, ACH Origination, Bill Pay etc.

Buying a used car, demands even more knowledge and concern than buying a new car. It is a challenging task as details like the condition of the car, its usage and various other factors have to be kept in mind before purchasing it.

However, deciding on the purchase of a used car becomes a hassle free process when the buyer is smart enough to cover each and every aspect involved in the process of its purchase. Following are some points that must be kept in mind before buying a used car:

• Decide on the car to buy: You can list down the cars you prefer to buy beforehand, so that you can make a thorough comparison amongst them. Be aware of your needs and lifestyle, and then decide the car model that would suit your purpose.
• Look for a used car seller: You can consult the newspaper advertizements or even ask from your friends if they know a person who is willing to sell off his car.
• Check the details: After you are done with the searching of the used car sellers, it is now time to check for the history of the car. It includes the time of purchase, the cost at which it was purchased, the distance it has run etc.
• The condition: The condition of the used car plays an important role in the purchase process. Always remember that pre-owned car does not always mean a car is in a poor condition. You have to be smart enough to get a used car worth the amount you are paying. Hence, evaluate the condition thoroughly and do not hurry.
• Test drive: You must drive on all kinds of roads. Apart from a smooth drive, check for the sounds, vibrations and jerks also.
• Paperwork: Be very particular about the paperwork involved in the purchasing process. It includes the registration of the car, the legal policies, the change of ownership documents etc.
• Finalize the deal: Try to negotiate with the price as per your capacity and then finalize the deal.

However, do not search for the cheapest car, rather look for a car that is good in condition as well as has a reasonable price tag.

To avail cheap and secured car loans, for used car as well as the new ones, visit us at Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call at 254-690-2274.

Auto Loan in Killeen, Tx - Secured Auto Loan