Secured Loans offer benefits such as lower rates of interest, high borrowing limits and long repayment terms.

Greater Central Texas Federal Credit Union offers Secured Loans to its members at competitive rates. The loans provide members with a financial boost when sudden expenses crop up; for a vacation, home improvement, purchasing a new car or a pre-owned vehicle, etc.

A Secured Loan is granted against collateral that is either equal in value of the loan amount or greater (at least 20 percent greater).

For a shared Secured Loan, the loan is backed by a share account that is held with Greater Central Texas Federal Credit Union. This excludes an IRA. It is necessary for the balance in the share account to be equal to or more than the loans balance (through its life).

• Fast approvals: Loans are approved within 24-48 hours of receiving a completed application form and verification of income.
• Convenience of payment: Services like direct deposit, payroll deduction and automatic transfer are offered to members to facilitate repayment of the loan.
• Lower interest rates.
• Promote savings.
• Skip-a-payment option.
• Higher borrowing limits.
• Easy application process.
• Flexibility: There is an option of converting fixed-rate loans to variable-rate loans. Even the amount of premium can be varied as per the convenience of the borrower.
• Helpful and friendly staff.
• Involvement of members to vote on new policies.
• No minimum balance restraint.
• Programs to help members manage their budget and unexpected expenses.
• It is locally run.
• Insured by the National Credit Union Share Insurance Fund (NCUSIF) – A Federal government agency.

GCTFCU is a not-for-profit financial cooperative that operates for the common benefit and welfare of its member-owners. Its members consist of people from the local community’s churches, schools and also employers. All members are equal owners. For more information on availing Secured Loan from Greater Central Texas Federal Credit Union, call at - (254) 690 - 2274

Competitive Interest Rates

Credit unions are recognized for providing competitive interest rates on auto loans. This can result in substantial savings over the loan's duration, making monthly payments more manageable. Lower interest rates guarantee that you will not end up overpaying in the long term, which is crucial when evaluating loan options for a significant purchase such as a car.

Flexible Loan Terms

One of the advantages of getting an auto loan from a credit union is the flexibility in loan terms. Whether you want to pay off the loan quickly or extend the payments over a longer period, credit unions provide options that can accommodate your financial preferences. This flexibility enables you to customize the repayment schedule to align with your budget and long-term financial objectives.

Personalized Service

As member-focused institutions, credit unions prioritize meeting the specific needs of their members and providing guidance that fits individual financial situations. This high level of customer service ensures that your questions are answered and that you receive the support needed throughout the loan process.

Streamlined Application Process

From applying online to appreciable decision times, the process is designed to be efficient and seamless. This lets you focus on selecting the right vehicle rather than worrying about complex financing procedures, giving you peace of mind during your purchase.

Potential Discounts

Credit union members may qualify for special discounts or offers that can reduce the overall cost of the loan. Whether through loyalty programs or other benefits, these discounts provide additional savings, making auto loans more affordable. These incentives can be an added advantage for long-term credit union members.

Local Expertise

Credit unions have deep roots in the local community, giving them a unique understanding of the financial needs of members. This local expertise means that the credit unions are well-positioned to offer loan options tailored to your circumstances.

For more information about getting an auto loan from a credit union, visit the Greater Central Texas Federal Credit Union, 3305 E. Elms Rd., Killeen, TX 76542, or call (254) 690 - 2274. You can also browse www.gctfcu.net and connect on Facebook and Instagram.