• Non-Profit Organizations: Youngsters are more likely to resonate with credit unions as they are formed to help people as opposed to the sole purpose of making profit. The main reason for which credit unions earn revenue is to stay viable. Every member is treated fairly regardless of how much money he/she has. Credit unions work to use their profits for the good of members in the form of low interest rates, less fees and more perks.
• A Credit Union Is A Local Institution: Giving back to community is something many responsible youngsters are keen on doing. A credit union is the perfect place to start at a local level. The money saved by members of a local community is utilized for supporting the very same community by helping them materialize their goals and desires.
• Financial Education: Youngsters looking for a head start in financial education are better off at credit unions. One of the cooperative principles of credit unions is to educate its members and help them with managing their personal finances.
• Better Customer Service: Credit unions are committed towards customer service and value. Members are offered competitive interest rates and great service. The representatives they are staffed with are helpful and friendly.
• Easy Eligibility: The criteria for eligibility as member of a credit union is that the prospective member should be living in the area within which the union is situated.
• Trustworthy: Most youngsters prefer being members of a credit union for the simple reason that they feel they can trust the union. The reason for this amount of trust is that credit unions are known to work in the best interest of their members and are keen on assisting them in making the best financial decisions.

If you are looking for a car loan that you can afford on a low income and small savings, your best option is a credit union loan. Being member-run, non-profit organizations, these financial institutions offer a good option for customers looking for a cheap auto loan in Texas. The first thing that you need to do is become a member of a local credit union.

Different credit unions offer different options when it comes to auto loans. Carefully evaluate your options while choosing a credit union, and ensure that the credit union you choose suits your financial requirements from the auto loan. Once you find a credit union in your region with membership criteria that you fulfill, you should discuss with them the various available car loans before applying for its membership.

Credit unions offer 72 month auto financing, which offers the benefit of low monthly payments, which are suitable for low income borrowers. Other benefits that credit union offer to auto loan borrowers are flexible loan terms, low interest rates, and easy approval procedures. The interest rates at credit unions across Texas are significantly lower than the prevailing market rates offered by other financial institutions like banks and private lenders.

The management and organization of credit unions is largely undertaken by their members, which explains why these institutions are more likely to cater to the needs of individual members. You can expect financial aid in the form of flexibility in your loan terms, as well as valuable financial advice when you apply for a loan at a credit union. You can get a cheaper auto loan if you choose to pay a sufficient amount towards the down payment of your loan.

It is also advisable to obtain a report of your credit score before applying for an auto loan at a credit union. This gives you the opportunity of taking measures to improve your credit score. Another measure that you can take to reduce the monthly payments for your auto loan is to choose a car wisely, taking into account your budget.

The Greater Central Texas Federal Credit Union is located in Killeen and provides cheap auto loans to its members. We offer user-friendly car loans at low interest rates and with flexible terms. We ensure personalized services for all our members, providing you with valuable advice to get the best loan to meet your financial situation.