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

Reasons To Get A Car Loan From A Credit Union

21. August 2019 Administrator Blog (0)
A credit union is a not-for-profit financial cooperative that provides traditional banking services such as opening accounts and offering loans. It poses as a great option for financing a new or used car because credit union members enjoy benefits such as low interest rates, minimum loan requirements, financial advice, etc.

Listed below are reasons due to which it is highly recommended to borrow a car loan from a credit union:

  • Membership Process: The prerequisite for applying for a car loan from a credit union is that the borrower should be its member. The membership eligibility requirements are based on where a prospective member lives, works or worships. Once you find a credit union that you are eligible for, all you need to do is submit a duly filled application form with required documents and make a small deposit to open an account. Being a member of a credit union, you are eligible to apply for a loan from that credit union.
  • Low Interest Rate: Credit unions offer highly competitive interest rates on car loans. The underlying reason is that credit unions are non-profit organizations which reinvest their profits to benefit their members.
  • Quality Customer Service: Members of credit unions enjoy personalized services. They are encouraged to discuss any concerns they may have about the loan, inquire about flexible repayment options and review their financial situation with professionals.
  • Non-Sales Approach: Credit union’s aim is to offer members high quality financial products and services without focusing on profits. Instead of trying to sell a service, credit unions try to help members make the best financial decision as per their individual requirements and financial status.

Greater Central Texas Federal Credit Union offers car loans to its members. The members can apply for loans online or visit the credit union. The credit union offers other services including a variety of savings account, MasterCard, checking account, etc. Members can choose the services that match their requirements and contact the officers for understanding the terms. For more details on reasons to buy car loans from a credit union visit, 3305 E. Elms Rd., Killeen, TX – 76542.

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

Secured Loan Checklist Killeen, TX

13. January 2016 Administrator Auto Loans, Car Loan (0)
A secured loan is the one where your asset is kept as collateral and can be taken into possession by the lender in case you are unable to pay back the loan. Secured loans have become really popular over a period of time because you can get them easily approved. Moreover, you can borrow huge sums of money at a lower interest rate.

It is important that you conduct a thorough research about the secured loan rates being offered by the credit unions in your area. This will help you select the most appropriate lender for your loan requirements. It is always beneficial to prepare for your loan well in advance to make the process hassle free and quick. Consider the following checklist before applying for a secured loan:

  • Prepare your credit report: Check your credit report for any errors and make sure you do not have any pending debts. Also, make sure that all your credit card payments have been duly made on time.
  • Save regularly: Establish a good saving record by saving regularly so that you can build up security for your loan. Increased savings make it easier to borrow from a credit union.
  • Get insurance: It is imperative to have insurance prior to applying for a loan. For example, if you are applying for a secured auto loan, you need to show that you are insured to drive a car.
  • Income and employment verification: You will be required to provide details of your income during the last three months, wage and tax statement from your employer, latest tax return details as well as recent bank account statements. Keep all these documents ready beforehand so that you do not face any difficulty when applying for a secured loan.
  • Ask for pre-qualification: Whenever you go to a credit union to apply for a secured loan, you should ask them about the estimate of the loan that you can be given and the interest rate for which you are pre-qualified. For this, you need to show your employment and income verification documents.
  • Other documents: Apart from the above mentioned documents, you also need to submit a photo identity proof, your residential address, contact details of your insurance agent etc.
For affordable secured loans in Killeen, TX, consider Greater Central Texas Federal Credit Union. We offer customized loan plans with low interest rates and easy repayment options. To know more, call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.
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