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

Services Offered By Credit Unions

18. December 2019 Administrator Blog (0)
Being non-profit and member-owned organization, a credit union offers a variety of financial services to its members at affordable rates. People consider credit unions to meet their financial goals because of their attractive rates and fees, sense of community, shared branching and personal services offered. 

Here is a comprehensive list of services offered by credit unions to their members:

  • Savings Accounts: Under a credit union, savings accounts pay dividend to members based on the amount deposited and the prevalent interest rates. Transfers out of savings accounts are limited as per the federal law but there is no limit to the number of deposits.
  • Checking Accounts: These accounts offer the freedom to spend money without monthly limits. Members can gain access to their money via debit cards, online bill payment, writing a check and paying cash. The credit union pays interest on a members cash without any limits to the monthly transactions. Debit cards (offered for free), can be used to withdraw money from ATMs and make online payments.
  • Certificates of Deposit: These deposits pay higher interest to the members, provided the amount deposited is not withdrawn for a specific period of time. They are considered as one of the safest investments that pay more interest. Users who want some freedom to withdraw money without being charged interest can avail other accounts such as Money Market Accounts.
  • Loans: Credit unions offer members a variety of loans such as auto loans (secured and unsecured) and credit cards.
  • Other Services: In addition to the above-mentioned services, credit unions also offer Outgoing and Incoming ACHs, Bill Pay, Gift Cards, IRAs (Traditional and Roth), Club Accounts (Christmas Club and Vacation Club), ATM services, Payroll Deduction, Overdraft Protection, etc.
Greater Central Texas Federal Credit Union offers a variety of beneficial services to its members. The member services include savings account, checking account, vehicle loans, etc. For further information on services offered by a credit union, visit us at 3305 E. Elms Rd., Killeen, TX – 76542. You can also call us at: (254) 690 – 2274. 

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Why Is Secured Loan A Good Option

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A loan that is backed up by any collateral is known as a ‘Secured Loan’. Collateral can be in the form of a financial asset owned by the borrower such as a house, car, precious jewelry, commercial property, etc.

Reasons for which secured loans are considered an effective way to borrow money from Credit Unions are:

  • Rate Of Interest: Credit unions offer secured loans at competitive interest rates. Secured loans typically have fixed interest rates so, a borrower’s monthly payments remain consistent in spite of changes in market trends.
  • Bigger Loan Amount: The borrowers can apply loan for a larger amount provided collateral is satisfactory. This makes a secured loan apt for large investments such as purchasing a new or used car.
  • Improves Credit: These loans help borrowers with low credit ratings to improve the same over time. As a borrower repays a secured loan according to the schedule set out by the loan officer, a positive track record is established and the credit score improves. A secured loan also improves credit score by lowering your credit utilization ratio.
  • Flexible Terms: Those who borrow secured loans enjoy flexible terms of repayment as per the options offered by the credit union. The term of the loan can be set to match the financial circumstances of the borrower. These loan term may range from a few years to a longer stretch.

Greater Central Texas Federal Credit Union offers secured loans to its members. In order to be a member of the credit union; the applicant should live, work or worship within the area of Bell County, west of I-35. The credit union provides secured loans at competitive interest rates. The loan can be used to buy new or used cars. The credit union members are also offered the option to apply for the loan online. The loan officers assist the applicants in understanding the loan process to help them choose suitable loan amount and terms. To know more about why secured loan is a good option, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at: (254) 690 – 2274.

Online Services Offered By A Credit Union in Killeen

29. October 2019 Administrator Blog (0)
Along with financial assistance and lending opportunities, credit unions are committed towards providing a variety of services for the convenience of their members. With the advent of internet technology, credit unions are making progress by offering a variety of useful online services to save time and help members keep a tab on their financial status.

Online services offered by credit unions like Greater Central Texas Federal Credit Union in Killeen are:

  • Checking: The online checking accounts make it easier for members to conveniently manage their financial affairs on a day-to-day basis. Credit unions require a minimum daily balance to be maintained in the account and also charge a nominal monthly fee. However, there are no transaction charges. Members can sign up for E-Statements even with low minimum daily balance. They are also offered a free Debit Card and Overdraft Protection.
  • Savings: Credit unions offer online access to savings accounts such as a Share Account, Money Market Accounts, Vacation Club, Christmas Account, Certificates of Deposit and IRAs. To open any of these accounts, members are required to present 2 types of identification proofs i.e. social security card and a recent picture ID. In addition to this, a nominal amount is usually charged for opening the account.
  • IRA: Credit union members can opt for a Variable Rate Traditional or Roth IRAs. IRAs are beneficial for youngsters who are starting a career, couples, growing families and retired members. Online services have simplified the process of starting an IRA in a credit union or transferring an existing one to it.

Other Services Offered By Credit Unions
  • Payroll Deduction
  • MasterCard Cash Advance
  • Wire Transfer
  • Direct Deposit
  • ATM
  • Bill Pay
  • Regular Share Savings Account
  • Checking Accounts
  • Share Certificates of Deposit
  • Loan Services: New and Pre-Owned Vehicle Loans

Greater Central Texas Federal Credit Union offers a variety of online services to its members in Killeen. The online services include Checking Account, Savings Account and IRA. For further details on online services offered by credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at: (254) 690 – 2274.

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How To Apply For A Secured Loan

17. September 2019 Administrator Blog (0)
With lower interest rates, secured loans are one of the favorite funding source for borrowers. The reason for lower interest rates in case of secured loans is the fact that lenders asks for a collateral as security against the amount financed. Examples of collateral used for secured loans are funds in the savings account, certificate of deposits, valuable property such as house or a commercial property, etc. It is important to know that the value of collateral should be equal to or greater than the loan value.

Following are some points worth considering when applying for a secured loan:

  • Your Financial Situation: Before applying for a secured loan, the first thing to do is to assess your financial situation. Figure out how much loan you need, suitable loan term, feasible EMI, etc.
  • Credit History: Once you have made up your mind to get the loan, check your credit history and see how it will affect your loan application. A good credit score increases your credibility.
  • Loan-to-Value: Assess the loan-to-value in order to know your borrowing capacity and the interest rate that will suit your financial circumstances. A lower loan-to-value translates into a better interest rate.
  • The Interest Rate: Inquire about the interest rates offered when looking for a secured loan. Ask the loan officers about suitable options and ways to secure a better rate.
  • The Term Of The Loan: The period over which you have to repay the loan also impacts the cost of the loan. A shorter period of repayment may lead to higher interest rate and vice versa.
  • Fees And Monthly Payment: When obtaining a secured loan, keep in mind that it involves various payments such as application fee, loan origination fee and cost of appraisal.
  • The Application Process: Credit Unions offer borrowers the choice of applying online. During the process, applicant is required to provide details such as the name, address, date of birth, income and employment status, etc.
Visit Greater Central Texas Federal Credit Union to apply for secured loans. The credit union offers secured loans on low interest rates to its members. For more information on how to apply for secured loans, visit: 3305 E. Elms Rd., Killeen, TX – 76542. You can also contact: (254) 690 – 2274.