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

How A Credit Union Helps You Save Money

27. February 2018 Administrator Blog (0)
Credit union is a non-profit organization which is owned & controlled by account holders. There’s always a common link between the members of a credit union. They could be working in the same company, going to the same church, living in the same community etc. Profit earned from the union is re-invested into the organization or used to fund its members.

Borrowing from a credit union can help you save money in the following ways:

• Lower Costs
Instead of making profits, credit unions focus on providing better products to their members at low costs. So, they charge nominal fees for their services. The amount charged is just to cover their costs of operation. This is done to ensure that in the long term you end up saving more money by shelling out less in the form of interest rates and service charges.

• Higher Interest Rates On Savings
Credit unions offer high interest rates on savings accounts. The amount of interest that adds up over time is directly a part of your savings. This will increase your savings substantially.

• Lower Interest Rates On Loans
With a low rate of interest, borrowing from credit union becomes a great option for cutting down one’s expenses. It is easy to accommodate interest payments of such loans into one’s monthly budget.

• Convenient Auto Loans
Getting an auto loan via a credit union is a great way of reducing the payouts of monthly installments. They encourage members to make higher down payments which reflect in lower monthly expenses and interest rates. Members can also choose shorter tenure periods for the loans consequently saving on their interest costs.

• Easy Approval
Members of credit unions can easily get pre-approved for the loan. They generally approve the loan application within 24 - 48 hours of document verification. The whole process is quite flexible & hassle free.

• Budgeting Assistance
The welfare of its members is pivotal for any credit union. The loan officers at the credit unions work in tandem with their members and offer assistance in finding a loan that best works for them.

Credit unions are a great option for loans as they follow an easy and stress free process. The staff assists the members in all aspects of loan application process. For more information, visit Greater Central Texas Federal Credit Union at 3305 E Elms Road, Killeen, TX 76542. You can call at (254) 690 – 2274 or log on to https://gctfcu.net/

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

Savings Account Benefits

24. August 2023 Administrator Blog (0)
A credit union savings account lets you securely store your money and earn modest interest. Credit union members run these cooperatives as owners and customers, emphasizing competitive rates. At Greater Central Texas Federal Credit Union, we are more than a financial institution - we are your financial success partners. Our diverse savings accounts, including IRAs, Club accounts, Share Certificates of Deposit, and Regular Share Savings, empower your financial future.

Following is a list of the benefits of opening a savings account with a credit union:

  • Interest Rates: Credit unions often provide competitive interest rates on their savings accounts. This means that your money can grow more quickly over time through earned interest. Take advantage of our competitive interest rates that help your savings flourish.
  • Fees: Credit unions generally have lower fees for their accounts and services. This can help you save money on things like account maintenance, ATM usage, overdrafts, transaction fees and more. Credit unions generally offer robust online and mobile banking platforms with features like bill pay, fund transfers, and account management with little to no extra charges.
  • Member Ownership: Being a member of a Credit Union gives you a sense of ownership and a say in the credit union's decisions, as well as potential voting rights for matters such as board elections.
  • Personalized Service: Credit unions often provide more personalized and attentive customer service. Since they are community-oriented and have a smaller customer base, they can focus on building stronger relationships with their members.
  • Community Focus: Credit unions are typically rooted in the communities they serve, and they often prioritize local needs and initiatives. By using the services of a credit union, you are supporting the local economy and community development.
  • Financial Education: Many credit unions offer free financial education resources, workshops, and seminars to help their members make informed financial decisions. This can empower you to manage your money more effectively.
  • Focus on Member Needs: Since credit unions are member-driven, they are more likely to focus on your financial well-being rather than maximizing profits.
  • Deposit Insurance: Our savings account provides peace of mind as the National Credit Union Administration (NCUA) backs deposits up to $250,000.
At Greater Central Texas Federal Credit Union, we are committed to providing you with the tools you need to achieve financial success. Our savings account is a powerful resource that combines security, growth, and accessibility - all while being tailored to your needs.

To know more about savings and investment options in Killeen, TX, you can visit Greater Central Texas Federal Credit Union at 3305 E. Elms Rd., Killeen, TX 76542, or call (254)690-2274. You can also browse our services at www.gctfcu.net or check out our social media profiles on Facebook, Twitter, Google Plus, and Instagram.
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