Auto loans from credit unions are preferred by most people due to their affordability and streamlined qualification procedures. The process of getting an auto loan from a credit union is relatively convenient and personalized. Credit union auto loans offer flexibility as far as interest rates and loan options are concerned.
If you are considering getting an auto loan from a credit union, following are some points as to how these loans work:
- Members Are Shareholders: Once you are a member of a credit union, you are deemed to be a shareholder and not a customer. This is because credit unions are meant to serve their members (shareholders) with financial services at reasonable rates.
- Individualized Attention: Credit unions aim to make it convenient for members to avail financial services. Due to this, they offer individualized attention as far as meeting loan requirements is concerned. A credit union member, who is interested in an auto loan, can get information as per his unique requirements either online, by visiting the branch.
- Types Of Auto Loans: You can get a secured loan for new autos and used autos with variable APR rates and terms. You can get secured auto loans and Share Secured Loans. Unsecured auto loans are also available with variable APR rates.
- Interest Rates: Members of a credit union looking for auto loans are provided with a variety of options to compare and assess. In most cases, credit unions offer auto loans at affordable rates of interest as compared to other financial institutions.
- Other Services: In addition to auto loans, credit unions offer a variety of other services. These services include Savings Account, Payroll Deduction, ATM, Bill Pay, Wire Transfer, ACH Origination, MasterCard Gift Cards, MasterCard Cash Advance, Direct Deposit, Regular Share Savings Account, Share Certificates of Deposit, IRAs and Club Accounts.
Greater Central Texas Federal Credit Union offers auto loans to its members. Members can seek assistance from the loan officers to understand the working and requirements of auto loans. The credit union also educates its members on ways to improve their financial health. For further details on the working of auto loans, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.
If you are looking for financial services like opening a savings account, applying for a loan or paying bills without any hassle, you should consider visiting a credit union. These non-profit organizations are owned by their members/account holders. Credit Unions provide a plethora of financial services at attractive rates/fees and are federally insured by the National Credit Union Share Insurance Fund.
You can avail following services as a member of a credit union:
- Savings Account: You can open a savings account to keep your cash safe while you earn interest. However, there are certain limitations on transfers from a savings account in a credit union.
- Checking Account: Credit union checking accounts let members spend their money without any limits on payments. They can access cash from the credit union via debit cards, online bill payment, writing a check, etc.
- Certificates of Deposit: These are a form of savings solution that pays members more than regular savings accounts. However, the pre-condition for this is that the customer has to leave his money in the account for a fixed amount of time. For customers who want some flexibility, some credit unions offer them money market accounts that allow them to access their funds throughout the month and enjoy high rate of interest.
- Loans: Credit unions offer auto loans and various other secured loans to their members. Auto loans are popular amongst credit unions due to their competitive rates of interest and thriving relations of credit unions with local dealers.
- Other Services: Most credit unions provide other services such as Direct Deposit, Payroll Deduction, Bill Pay, ATM, Notary Service, On-line access, Wire Transfer, etc.
Greater Central Texas Federal Credit Union offers a variety of services to help it’s members reach their financial goals. The services offered to the members include secured loans, savings accounts, checking accounts and various online banking facilities. To know more about what can you do at a credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.