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

Why Is It Important To Have A Savings Account?

13. June 2021 Administrator Blog (0)



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

Borrowing From A Credit Union: The Benefits

13. October 2015 Administrator Auto Loans, Car Loan, Home Loans (0)
A majority of people looking for easy financing options are turning to credit union these days. A credit union is basically a member owned and operated non-profit organization working solely for the benefit of the clients. When you are looking for a home or auto loan, you must consider applying at a credit union to get an affordable deal.

Here are some of the benefits of borrowing from a credit union:

  • Competitive Interest Rates: Working with a customer centric approach, a credit union offers loans at significantly low interest rates as compared to other financial institutions. As they are not liable to pay any state or federal taxes, all their profits are given out to the members in the form of low interest rates.
  • Excellent Customer Service: A credit union always keeps customers’ benefit as their topmost priority. They formulate customized loan products, policies, terms and conditions according to the client’s requirements. Their staff even assists the clients in the loan application process.
  • Lower Fees: The loan application fees charged by a credit union tend to be lower so as to benefit the customers. The transfer fee is also less and usually, there are no ATM charges levied from the clients. This in turn, implies that you can save a lot of money and add to your savings substantially.
  • No Hidden Charges: All the rules and regulations of credit unions are very clear as well as explicitly stated. There are no hidden charges or fines in case you pay back the loan before the stipulated time period.
  • Fewer Income Requirements: In order to be eligible for borrowing from a credit union, you do not need to have a considerably high income. People who have a low income can also get approval for their loan application. The staff at a credit union is more amenable to the clients’ needs and willing to make minor alterations in terms of the loan.
  • Repay Loan Through Various Channels: A credit union allows you to repay the loan through various channels, such as payroll deduction or direct deposit. You can even skip-a-payment once a year in case of a financial crisis.
Greater Central Texas Federal Credit Union is a leading credit union in Killeen, TX. We offer low interest secured and unsecured loans for homes, vehicles, etc. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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GCTFCU Blog | Steps To Open An Account With A Credit Union
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Steps To Open An Account With A Credit Union

18. June 2020 Administrator Blog (0)
Credit unions are a reliable source of superior and affordable financial services. The financial services offered by credit unions include an array of account types and loans. The process of opening a credit union account involves simple steps. The process is designed as per the convenience and customer satisfaction.

Essential steps involved in opening an account in a credit union are:

  • Determine The Requirements: To start with, individuals should determine their needs, study membership requirements, assess the rates and fees for desired account type. Also, know about the minimum balance requirements.
  • Collect Important Information: Next, start gathering information that is required by the credit union for proving your identity. This includes tax identification number or Social Security Number, physical address, valid identification (driver’s license or passport), and other eligibility documents.
  • Establish The Membership: Before opening an account with a credit union, the customers are required to establish the membership with it. Membership eligibility requires individuals to be a part of a specific non-profit organization or working, worshipping or attending school in a specific community, state, or city.
  • Make A Deposit: After establishing membership with a credit union, members are required to make an initial deposit in order to open an account. This is a nominal amount and is required to project the availability of funds in the account. Most credit unions require members to maintain a minimum balance in their accounts.
  • Use your Account: The last step of this process is to understand the terms and conditions associated with using your account. You can ask your employer to set up direct deposit services, make payments electronically and maintain a record of transactions.
Conclusion: Members can open an account in person or online as per the services provided by the credit union. Online and general services include but are not limited to bill pay, account transfers, e-statements, wire transfer, payroll deduction, direct deposit, credit card, debit cards, etc.

Greater Central Texas Federal Credit Union offers a variety of accounts to its members. The officials help the members to open an account with the credit union. For more details on steps to open a credit union account, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also contact (254) 690 – 2274.

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