Benefits Of Getting A Car Loan From A Credit Union 6. August 2015 Administrator Auto Loans, Blog (0) If you need financing for your new car, an option that you can explore is credit union. Getting loan from a credit union is a great idea because of the various benefits that it offers over other financial institutions. Owned and operated by the members, credit union provides a number of financial services, including loans, free ATM, savings accounts, online banking, etc. Here are some benefits of applying a car loan from a credit union: Lower interest rates: Credit unions, being non-profit organizations are not liable to pay any taxes to the state or federal government. As a result, they offer considerably lower interest rates on car loans. This means that your monthly payments will be low and you can save more.Flexible terms and conditions: The terms and conditions of car loans are usually flexible at a credit union. Working with a client centered approach, the credit unions are more considerate towards the financial needs of the members. Their policies are flexible enough to adjust the repayment options and loan duration according to the convenience of the clients. Better customer services: The credit union is easy to approach and there are lesser formalities involved in the car loan application process. Their staff provides complete assistance to the clients in filling out the application form and getting the paperwork ready. Convenient loan process: The process of getting loan is more relaxed at credit unions. The clients can even apply for a car loan through the credit union’s website. This eliminates the need to be physically present at their office.Membership benefits: The credit unions also offer various other banking and financial services to their members. This includes wire transfer, payroll deduction, notary service, savings accounts, direct deposit, ATM, ACH origination, MasterCard Gift Cards etc. Members have a say: All the members are stakeholders and part owners of the credit union. Therefore, they are given the right to choose the board of directors and vote on the important matters concerning loan rates, terms and working of the credit union. We, at Greater Central Texas Federal Credit Union, provide low interest loans for both new and used cars. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX 76542.