Learning how to save money is one of the key components of financial literacy. It allows you to make the most out of your financial resources while encouraging you to take well-informed financial decisions.
Let us explore some effective ways to build up your savings and a good credit score.
- Learn to Distinguish Between Wants & Needs - Be clear on your financial priorities and divide your income wisely. To make it more effective, learn to distinguish between wants and needs. Your needs include housing, transportation, electricity, insurance, gas, clothes, food, water, health and other household items. These are the recurring expenses and are essential for survival. Things that you buy for leisure, entertainment, fun like travel, expensive clothing, dining out, automatic subscriptions, memberships, etc. are considered as wants. To save money, keep your focus on the needs rather than overspending on the wants. Keep track of your monthly expenses; do not stress yourself and save a comfortable amount of your income.
- First Pay all the Debts - The first and foremost priority should be paying off all the debts while making small contributions to build up savings. Once you've paid off your debt, it will be more comfortable and convenient to save significant amount of your income.
- Find Ways to Save on the Monthly Expenses - Find ways to save on recurring monthly expenses such as: investing in energy-efficient appliances. Managing lifestyle priorities also help in saving on monthly expenses.
- Wise Savings & Investment Options - Explore various savings and investment options that have potential of higher returns, good interest rates, minimum risks and reliability.
Visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX - 76542. You can also contact us by filling up the contact form available at
www.gctfcu.net or call us: (254) 690 – 2274.
Savings account is a basic account type held at a financial institution that allows you to deposit funds with safety assurance. One can also earn interest on the deposits at credit unions on your savings. The savings account also allows you to withdraw money any time you wish to. Let us look through some important steps to open a savings account at a credit union.
Become the Member of Credit Union
First, become a member of a credit union. The membership of credit union will allow you to access their various financial products and services. Apply for savings account and take proper follow up. Member services offered by Greater Central Texas Federal Credit Union, Killeen include Direct deposit, Payroll deduction, Notary Service, MasterCard Cash Advance, On-line access, MasterCard Gift Cards, Wire Transfer, Savings Account options and many more.
Check the Eligibility Criteria
Go through the eligibility criteria and other relevant information regarding the savings account you want to open. If it suits your profile, go ahead.
Collect Documents
Collect all the required documents and start the procedure.
Requirements for Opening Savings Account at GCTFCU:
- 2 forms of ID (original social security card and picture ID)
- Person should be living & working in vicinity of west of I-35
- $5.00 fee for opening account
- $20.00 to remain in account
Fund the Account
Once your account is all setup, make sure to add funds in it. Keep the account active to enjoy all the services that come along. Credit union offers higher dividends on your savings and helps you reach your desired financial goals.
Savings Accounts Available at GCTFCU
- Share Savings Account
- Checking Account
- Certificates of Deposit
- Money Market Accounts
- Individual Retirement Account
- Christmas Club
- Vacation Club
For more information, visit www.gctfcu.net
Insured by the National Credit Union Share Insurance Fund (NCUSIF), Greater Central Texas Federal Credit Union, Killeen offers multifarious savings, investment & lending options. Our lending services include New and Pre-Owned Vehicle Loans, Secured & Unsecured loans. Greater Central Texas Federal Credit Union works within the area of Bell County, Texas, west of Interstate 35.
Visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX - 76542. You can also contact us by filling up the contact form available at www.gctfcu.net . Call us: (254) 690 - 2274
Successful Transactions
With overdraft facility, a person is able to complete ATM and debit card transactions, even ifthe account is short on money. It prevents transactions from getting declined and provide immediate financial support. A person is saved from penalties which are imposed owing to negative balance in the account.
Availability of Funds in times of Emergencies
Overdraft Protection gives coverage and financial support during emergencies or temporary economic distress. Overdraft protection allows an access to funds which can be used during sudden monetary exigency.
No Bouncing Checks
Overdraft facility prevents your checks from getting bounced. It saves a person from paying bounced check fees and helps to maintain good credit report.
Services under Overdraft Protection
Greater Central Texas Federal Credit Union offers Overdraft Protection in two different ways; standard overdraft practices that come with your account and Overdraft Protection through a link to your savings account. The standard overdraft practices that come with your account: checks and other transactions made using checking account number and automatic bill payments. Under standard overdraft practices Greater Central Texas Federal Credit Union will charge a fee of up to $30 each time the credit union pays on your behalf.
Greater Central Texas Federal Credit Union is a member-owned cooperative which has been helping people with their financial needs since 1957. Our member services include Direct deposit, Payroll deduction, Notary Service, MasterCard Cash Advance, On-line access, MasterCard Gift Cards, Wire Transfer, ACH Origination, Club Accounts, Credit Card, Bill Pay, ATM and automatic transfer services, etc. Our lending services include New and Pre-Owned Vehicle Loans, Pre-Approval on vehicle loans, Secured & Unsecured loans. Greater Central Texas Federal Credit Union works within the area of Bell County, Texas, west of Interstate 35.
For further details, visit
Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX - 76542. You can also contact us by filling up the contact form available at our website. Call us: (254) 690 - 2274
Getting great deal while buying a car helps in making the financial decision easy. A lot would depend on the financial institution you are availing an auto loan from. While there are many providers, Credit Unions helps in availing one of the best deals on auto loan. Let us dig deeper into the benefits of taking an auto loan from a credit union.
Lower Rates of Interest
Credit Unions are community based, non - profit financial institutions, which provide products and services to promote financial wellbeing of the members. Since, credit unions does not seek huge profits, they are able to offer their members lower interest rates on auto loans and other lending services.
User Friendly Loan Process
Credit Unions provide a user friendly loan process with minimum hassle. You are likely to complete the loan applying procedure in lesser amount of time while getting the best possible deal. Credit union generally provide online access to their services.
Credit unions often provide financial counselling led by local experts to guide you through the process.
Financing
Being the member centric cooperatives, credit unions are quite flexible and try to find ways to help their members. It is relatively convenient to apply for a loan from a credit union as they have minimum-loan requirements and a better insight into your financial situation.
Community Ties
Credit Unions hold strong community ties which offer a better understanding of each other’s financial needs and requirements. They provide personalized services backed with community support. Volunteerism & community involvement makes a credit union more accessible and participative.
From providing auto loans to many other convenient services, Greater Central Texas Federal Credit Union, Killeen is committed to help its members reach their financial goals.
Insured by the National Credit Union Share Insurance Fund (NCUSIF), Greater Central Texas Federal Credit Union, Killeen is member own cooperative which has been helping people with their financial needs since 1957. With multifarious savings and investment options, one can seek financial assistance for to build your dream home, saving for retirement etc. The lending services include New and Pre-Owned Vehicle Loans, Pre-Approval on vehicle loans and various Secured & Unsecured loans at feasible interest rates. Greater Central Texas Federal Credit Union works within the area of Bell County, Texas, west of Interstate 35.
Overdraft Protection (OD) is a product provided by banks and credit unions to offer financial coverage in case of insufficient funds in the account. An additional amount is transferred to cover a transaction thereby preventing it from getting declined. Let’s look at some benefits of opting Overdraft Protection.
Transactions - With overdraft protection in place, even if a person doesn’t have sufficient money in the account, ATM and debit cards transactions will still go smoothly. It will prevent transactions from getting rejected or declined due to negative balance, thereby saving you from inconvenience and embarrassing situations. Please note that it is the discretion of Greater Central Texas Federal Credit Union (GCTFCU) to authorize and pay OD for any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined. If a transaction is declined, you will be charged a $35 fee.
Availability of Funds in times of Emergencies - Overdraft Protection gives coverage and cash during emergencies or temporary economic hardship. A situation might get worse without a financial support. If you have enrolled for overdraft protection, you get an automatic access to funds which can be used in times of crisis.
No Bouncing Checks - Bounced checks can create a lot of hassle and problems. Overdraft protection, prevents checks from getting bounced and saves a person from paying bounced check fees. This financial product may help you prevent money trouble blemishing your credit report.
Services under Overdraft Protection - Greater Central Texas Federal Credit Union offers Overdraft Protection in two different ways; standard overdraft practices that come with your account and Overdraft Protection through a link to your savings account. The standard overdraft practices that come with your account encompasses checks and other transactions made using checking account number and automatic bill payments. Under standard overdraft practices Greater Central Texas Federal Credit Union will charge a fee of up to $30 each time we pay on your behalf.
Federally Insured up to $250,000 by the National Credit Union Administration (NCUA), Greater Central Texas Federal Credit Union offers services like direct deposit, on-line access, overdraft protection, wire transfer, ACH origination, bill pay, ATM and various other checking, savings and loans products.