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.
The Greater Central Texas Federal Credit Union is a member-owned cooperative that was formed in 1957 with the goal of providing financial assistance at affordable rates to its members. The profits of the credit union are exclusively used to provide quality services and lending solutions to its members.
Following are the products and services offered by Greater Central Texas Federal Credit Union:
- Checking Account: Members can open checking accounts with the credit union to avail facilities like free and unlimited check writing, ATM transactions, VISA Debit transactions and the convenience of E-Statements. Members above 55 years of age can open a Golden Apple Checking Account that offers benefits like no minimal daily balance requirement.
- Low Interest Loans: The credit union offers secured loans for new & pre-owned vehicles at competitive rates to its members. Also, members can apply for unsecured loans at a low Annual Percentage Rate (APR).
- MasterCard: Members of the credit union are also entitled for regular MasterCard, Gold MasterCard and Platinum MasterCard. The cards are offered at fixed rates and no annual fee is charged.
- Savings Accounts: Greater Central Texas Federal Credit Union offers a variety of savings accounts to its members. Some of these include Tiered Money Market accounts, Vacation and Christmas Club, Certificates of Deposit and Variable Rate IRA’s.
- Electronic Services: Members can sign up for online access to their accounts. This allows them to monitor their accounts and make transactions anytime for convenient banking experience. By signing up for electronic services, they can pay their bills online with Bill Pay + at a minimal monthly cost. The electronic services are offered free of cost to members above 55 years of age. These services equip members to make MasterCard payments using their phone or computer through internet. To initiate the service, members can call the Card Services at the number provided on the credit union’s website.
- Other Services: In addition to the above-mentioned products and services; the credit union also provides services like check reordering, an online loan calculator, payroll deduction, direct deposit, wire transfer, ACH origination, ATM services, MasterCard cash advance, MasterCard gift cards, notary service and more.
Every account in the credit union is insured by the National Credit Union Administration (NCUA) up to a set limit.
Greater Central Texas Federal Credit Union offers an array of financial solutions such as savings accounts, secured loans, etc. to assist its members. To know more about the products and services offered by the credit union in Killeen, call at (254) 690 – 2274. You can also visit the credit union at 3305 E. Elms Rd., Killeen, TX - 76542.