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

Reasons Why Youngsters Should Join A Credit Union

26. May 2018 Administrator Blog (0)
Credit unions are a great option for youngsters in search of financing options with low rates of interest and individualized services. They are non-profit, trustworthy financial institutions that are being sought after by many people. Here are some reasons due to which joining a credit union is highly recommended for youngsters

  • Non-Profit Organizations: Youngsters are more likely to resonate with credit unions as they are formed to help people as opposed to the sole purpose of making profit. The main reason for which credit unions earn revenue is to stay viable. Every member is treated fairly regardless of how much money he/she has. Credit unions work to use their profits for the good of members in the form of low interest rates, less fees and more perks.
  • A Credit Union Is A Local Institution: Giving back to community is something many responsible youngsters are keen on doing. A credit union is the perfect place to start at a local level. The money saved by members of a local community is utilized for supporting the very same community by helping them materialize their goals and desires.
  • Financial Education: Youngsters looking for a head start in financial education are better off at credit unions. One of the cooperative principles of credit unions is to educate its members and help them with managing their personal finances.
  • Better Customer Service: Credit unions are committed towards customer service and value. Members are offered competitive interest rates and great service. The representatives they are staffed with are helpful and friendly.
  • Easy Eligibility: The criteria for eligibility as member of a credit union is that the prospective member should be living in the area within which the union is situated.
  • Trustworthy: Most youngsters prefer being members of a credit union for the simple reason that they feel they can trust the union. The reason for this amount of trust is that credit unions are known to work in the best interest of their members and are keen on assisting them in making the best financial decisions.

Conclusion: Credit unions are an ideal choice for youngsters as they are member centric, guide in making the best financial decisions, have easy eligibility norms and offer great deals in the form of perks and interest rates.

For more information, visit Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542 or call at (254) 690 – 2274.

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GCTFCU Blog | Credit Union For Affordable Home Loans
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Credit Union For Affordable Home Loans

4. June 2015 Administrator (0)
Getting a home loan is a big financial decision, which requires one to consider many important factors. It is advisable to consider credit union for a home loan, as it is a not-for-profit organization. A credit union provides home loans to its members at low interest rates. It also offers various others benefits for people trying to purchase a home.

Here are some of the benefits of taking home loans from a credit union:

  • Low interest rates: Being a non- profit organization, a credit union is not liable to pay taxes to the federal or state government. Therefore, these are capable to lend loans at a low interest rate. Thus, borrowers are able to lower their monthly home mortgage payments.
  • Low fees: The loan processing fees charged by a credit union is affordable. Where on one hand initial loan fee charged is less, on the other hand, checks and electronic transactions are usually offered free of cost.
  • Control of account holders: Members of a credit union are also its part owners, thus, having complete control over its operations. They have a right to vote on important matters that may affect their financial obligations such as terms of home loan rates and other related activities.
  • Increased flexibility: Credit unions are willing to lend financial aid to its members even if they do not have a higher income. The loan policies are also flexible enough to accommodate the specific needs of an applicant or if they are facing temporary financial issues.
  • Benefits to lower income groups: Borrowers in lower income groups can also be granted membership in credit unions. One can look for the packages that suit them best by reviewing its rates, cost of the loan, adjustability of its cost and its mortgage term.
  • Fewer complications: The procedure of getting a home loan from credit unions is simple and involves fewer complications. There are barely any rules or provisions to be followed, thus making the whole procedure convenient for its members. Usually, the loan application gets approval within a few days, after the documents are verified.
  • Courteous staff: The staff at a credit union is friendly and assists the members in their tasks. They are also more approachable and pay personal attention of the needs to the members.
Thus, credit unions are highly consumer oriented and provide more flexible and affordable home loans to its members.
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