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

Benefits Of Online Payment Facility By Credit Union

28. July 2020 Administrator Blog (0)
Credit unions are community-based financial institutions that offer additional advantages for their members. They focus on community, attractive and affordable loan rates, and other added perks. Members are offered a variety of financial services for added convenience. One of the most attractive features is the ability to make online payments.

Credit unions offer a safe and secure online payment facility. Benefits of using online payment facility offered by a credit union are:
  • Convenience: Online bill pay service makes it easier to organize bills and pay them before they are due. If an individual juggles rent/mortgage, cable, electricity, credit card payments and more; online bill pay can save time and help to avoid late fees. There is no requirement to log into several websites and remember multiple passwords. Credit unions also offer an option to pre-schedule payments on their due date. Whether the bills are received electronically or by mail, members can utilize an online facility to schedule payments.
  • Security: Credit unions use the most suitable security protocols to keep their online transactions secure. Several methods are incorporated to keep member information safe including security layers, etc.
  • Simplified Money Management: Making online payments can help members check account balance and determine whether the bill payment has been scheduled and paid. Other benefits may include searching for specific payments online, access to online payment history, setting up email alerts for payments, etc.
  • Environmental Advantage: One of the biggest benefits of paying bills online is eliminating paper waste. Paying bills online will reduce the use of paper checks. In addition to eliminating paper waste, it also eliminates the costs of postage and envelopes.
  • Easy Consolidation: Using an online payment facility will allow consolidating bills in one place as they are posted from one account each month.
  • Organization: It is certainly possible to lose track of finances, but online bill payments help individuals to organize their records. With all the bills and payments organized at one single place, members can easily know if something is posted incorrectly.
  • Saves Time: Once the electronic bill payment service is set up online, it takes just minutes to pay the bills. Increasingly people are shifting to electronic statements and making use of online bill pay, thus saving themselves time and money.

Greater Central Texas Federal Credit Union offers online bill payment facility to its members. The Bill Pay member service helps to conveniently make online payments in a safe and secure manner. For more details on the benefits of online payment facility by credit union, visit 3305 E. Elms Rd., Killeen, TX – 76542. You can also call at (254) 690 – 2274.

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GCTFCU Blog | Home Loan: Pitfalls To Avoid
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan: Pitfalls To Avoid

12. August 2016 Administrator Home Loans (0)
Getting a home loan approval lends a sense of relief to the buyers. However, the excitement of buying a new home can sometimes lead to unwise financial choices that might not be beneficial for you in the longer run. Being realistic in your approach and knowing how much you can afford can help in making a well-informed decision. Stay within your budget because you will need to repay the loan along with the specified rate of interest. Do consider your total repayments before applying for a home loan.

Listed below are some common home loan pitfalls you must avoid:

  • Getting lured by offers from financial institutions: It is always advisable to take into account the overall cost of home loan before getting lured by the offers from the lenders. These freebies could be in the form of a discount in documentation charges or waiver in the first installment. Although this may save a few dollars in the beginning, it will make your home loan costlier in the longer run. Hence, get a home loan from a credit union that offers a low rate of interest.
  • Not considering all the options: It is not good to make any decision regarding the home loan in a hurry. Get in touch with multiple credit unions in Killeen, TX to get detailed information about the available home loan plans. Do not borrow more than what you can afford to pay back and consider all the documentation fees as well as other processing charges to know the exact cost of the loan.
  • Switching between loan terms: You must not switch the home loan once you have borrowed it from a credit union. At the beginning of the loan term, you may have to deal with a lot of expenses such as legal fees, establishment fees and insurance. Switching the loan plan means paying these charges all over again which can eventually put a huge burden on your finances.
  • Miscalculating the overall interest cost: Make sure the credit union offers a home loan with a consistent rate of interest through the entire period of loan. You should calculate the overall interest payments to be made during the loan tenure to minimize your financial encumbrances.
Visit Greater Central Texas Federal Credit Union if you are looking for a home loan in Killeen, TX. We offer a wide range of loan plans with low interest rates and easy repayment options. For more information, call at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.
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GCTFCU Blog | Auto Loan For Students: How To Get The Best Deal
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Auto Loan For Students: How To Get The Best Deal

19. January 2017 Administrator Auto Loans (0)
Owning a car is quite a big deal for students. It gives a sense of independence, freedom and a personal transportation to commute through the busy roads. However, owning a car comes with a lot of financial obligations. Though auto loans offer a good way to cover up the expenses, you must invest a lot of time and efforts to make sure that you get a suitable financing plan.

Given below are some tips that can help you get the best deal on an auto loan in Killeen, TX:

Choose The Right Car

Though you may be excited about buying your first car, it is important to make a well-informed decision about the right make and model. The price of the car is a prominent factor that determines the amount of loan you need to apply for. Make sure that you can easily afford the monthly loan payments along with additional expenses such as fuel, insurance and maintenance costs.

Research The Available Financing Options

Get quotes from multiple financial institutions to get the best possible rate on your auto loan. You can also visit a credit union as they offer loans at quite low interest rates. Make sure you completely understand the terms and conditions of different loan plans before you finalize anything. You can choose from a secured or unsecured auto loan, depending upon your requirements and budget.

Work On Your Grades

Credit unions in Killeen offer a lower interest rate to students who have a high grade point average (GPA). This is due to the reason that such students are considered responsible and are likely to be punctual in their monthly payments, thereby minimizing the risk for the lender. If you have a low or average GPA, you can consider working on improving it so that you are able to get a better interest rate on your car loan.

Pay A Higher Down Payment

The more money you can pay upfront for your car, lesser will the amount that you need to borrow. Making a large down payment will not only decrease your loan amount, but also the interest payments and monthly installments. Plan your car purchase well in advance so that you can start saving for the down payment. Borrowing a small amount of money will reduce the risk for the lender, allowing him to make a better offer on the interest rate.

Go For A Short Term Loan

Just like most students, you may consider buying an inexpensive or used car till the time you are able to afford a better model. Hence, it is quite likely that you would not want to keep on paying the loan for a span of 5 to 7 years. A better alternative is to choose a short term loan so that you can pay it off quickly and start saving for your next car. Though this may mean that you will have to pay larger payments every month, you can save a lot in terms of interest.

Know Your Credit Score

Though many students have never checked their credit score, it is important to do so when you are applying for an auto loan. Maintaining a good credit score will not only increase your chances of getting approval for a loan, you will also be able to secure a low interest rate. This, in turn, will allow you to make significant savings throughout the loan duration.

Get A Co-Signer

The credit rating of your co-signer can greatly impact the rate of interest quoted by the lender for your auto loan. Make sure you do not choose your parents or relatives as co-signer. Rather, opt for a person who has a good credit score and helps to lower your overall auto loan costs.

We, at Greater Central Texas Federal Credit Union, offer affordable auto loans from students in Killeen, TX. You can either choose from unsecured or secured car loans. Our staff will assist you with the loan application and all the paperwork involved in the process. For more details about the auto loan plans offered, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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