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

The Benefits Of Joining A Credit Union In Killeen TX

20. April 2014 Administrator (0)

Many people today are turning to credit unions in Killeen TX when it comes to obtaining secured loans for housing, automobiles, and other needs. This shift towards credit unions from the conventional ways of banking can be best explained by the many benefits that they offer. Read on to know how joining a credit union can prove to be beneficial for you.

  • Firstly, credit unions are out there in the market not to make profit, but serve their customers. They offer reliable services to customers at affordable fees. Banks on the other hand are known for charging considerably high charges for providing services to customers. Hence, many people today prefer to become a member of a credit union.
  • Another advantage of joining a credit union is that it will provide you higher rates of return on your savings account. In addition. If you go in for a secured loan in Killeen through a credit union, you are liable to pay lower rates of interest as compared to a bank. Both these factors make it a win-win situation for the customer to readily become a member of a credit union. Credit unions pass on their savings into their entire product line, leading to lower interest rates.
  • While banks furnish a minimum balance requirement when it comes to ensuring the continuity of an account, it is not the case with a credit union. There are no big numbers on the amount of money to be kept for running the account. You can easily operate accounts with negligible balance.
  • ATM accessibility is another major benefit of joining a credit union. Credit unions in and around Central Texas have their own shared ATMs and branches, which means that you can get cash any time and any where you need. This can be an impediment when it comes to banks which have an ATM facility only next to the place where their branch is located.
  • Credit unions also offer many free services in addition to the conventional loan offerings that they provide. For instance, many credit unions conduct free seminars based on various financial topics for their members. This is just one instance. There are many other free services offered by credit unions for which a bank will charge money. Hence, people see it to be more profitable to become a member of a credit union.

So join a credit union today, and enjoy the above mentioned benefits and advantages as you go about managing and dealing with money.

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GCTFCU Blog | Important Financial Services Offered by Credit Unions
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Important Financial Services Offered by Credit Unions

24. December 2022 Administrator Blog (0)
Members of credit unions enjoy a variety of affordable financial services. Credit Unions aim to offer their members an assortment of high-quality services, not with the aim of maximizing profits, but with the intention of empowering the community.

For example, Greater Central Texas Federal Credit Union is a member-owned financial cooperative in Killeen, TX. The credit union is insured by the National Credit Union Share Insurance Fund. It strives to provide the members with a host of lending opportunities coupled with other financial services such as Bill Pay, debit cards, MasterCard, checking and savings account, and more. The services are instrumental in helping members attain their financial goals such as retirement savings, college education, home purchase and purchase of new and pre-owned vehicles.

Listed below are important financial services offered by Greater Central Texas Federal Credit Union:

Unsecured/Signature Loans:

This category of loans is ideal for anyone with major expenditures impending in near future for example college education or purchasing a new home. The loans are available at affordable rates and the credit union also offers quick approvals; usually within 24-48 hours of completing an application and income verification. Interested parties can contact the loan officer and apply for the same on credit union’s website.

Secured Loans

GCTFCU provide secured loans against collateral. These loans are usually given against a collateral valued at an amount equal to or higher than the loan’s balance. Such loans have lower interest rates.

Savings Accounts

The saving accounts offered by the credit union include Share Account, IRA (Individual Retirement Accounts), Christmas Club, Certificates of Deposit, Vacation Club and Money Market Accounts. To open a savings account at Greater Central Texas Federal Credit Union, you need to provide a proof that you are living, working or worshipping west of I-35, 2 ID proofs (such as picture id and social security card), a minimum of $5.00 to open an account and $20.00 to deposit in it. For a regular Share Savings Account, you will need a minimum of $25.00 and for Share Certificates of deposit a minimum of $1,000.

Credit Builder Loan

As the name suggests, credit builder loans are meant to help members enhance their credit score while saving at the same time. The way this loan works is that a specific amount of money is deposited in a member’s share account and frozen therein until the loan is repaid. The benefit of a credit builder loan is that members can avail it even with an unsatisfactory credit score. This characteristic makes it ideal for new members who are getting a loan for the first time.

Other Services

In addition to the above-mentioned financial services, the credit union offers services like Incoming wires, Outgoing Wires, Outgoing ACHs, Incoming ACHs, gift cards, an audio response system, an amortization calculator, checking cleared drafts, Notary service, ATM and safe deposit boxes.

For more information on important financial services offered by credit unions, visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX - 76542. You can also visit www.gctfcu.net or call at (254) 690 - 2274.
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