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

Secured Loan vs Unsecured Loan

19. February 2022 Administrator Blog (0)


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Benefits of Being a Member of a Credit Union

29. January 2022 Administrator Blog (0)
Credit Unions are community based, non - profit financial institutions which provide services to the members-owners. They manage to take great care of the financial wellbeing of their members. As non-profit and member centric cooperatives, credit unions have multiple economic benefits. They strive to offer various saving options, lower fees & loan rates, and high dividends on the deposits. 

Community Involvement - Volunteerism & community involvement are the two pillars of credit unions. They welcome people from various walks of society to build a strong community bond. Greater Central Texas Federal Credit Union is committed to set a spirit of solidarity within the institution and provides financial solutions at feasible prices.

Better Rates on Loans and Saving Accounts - Credit Union offer higher yields on the savings to help you achieve personal financial goals.  Since they're not focused on churning profits, they provide satisfactory returns in the form of higher interest rates on savings accounts, lower fees, lower rates on loan and credit cards.

Easily Accessible - Credit unions are tailored to meet the expectations and interests of their members. Their easy accessibility allows a member to gain economic support in a brief period of time. They pay attention on every loan application individually and try to give best possible financial solution. It is often easier to get approval for a credit from a credit union.

Democratic Voting - As a member & part-owner of credit union, you have a say in the decisions, including the selection of board members and new proposals. There are several ways one can participate & volunteer to influence the strategic management of a credit union. A credit union preserves its integrity by allowing each member to vote and participate in the elections.

Personalized Financial Service - Credit unions tend to focus on providing excellent customer service. Members of credit unions enjoy the perks of personalize attention and service. 

Financial Counselling - Credit unions often provide financial counselling led by local experts. They offer valuable advices and support to assess financial priorities of an individual and impart better understanding & knowledge of a particular service or product. A financial counsellor helps a client to take good investment decisions, thereby maximising the probability of higher returns.  

Insured by the National Credit Union Share Insurance Fund (NCUSIF), Greater Central Texas Federal Credit Union offers a wide array of services. We have been serving our community with financial needs since 1957.  With various types of saving accounts like Share Account, Money Market Accounts, Christmas Club, Vacation Club, Certificates of Deposits and Individual Retirement Account, we try to cater different financial needs and interests of our members. We grant Secured and Unsecured loans at reasonable rates. Services like Direct deposit, Payroll deduction, Notary Service, MasterCard Cash Advance, On-line access, MasterCard Gift Cards, Wire Transfer, ACH Origination, Bill Pay, ATM and automatic transfer services are available. Greater Central Texas Federal Credit Union works within the area of Bell County, Texas, west of Interstate 35.

Contact us by filling up the contact form available on our website.

Reasons To Open A Savings Account

21. January 2022 Administrator Blog (0)


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Loans and Financial Services Offered by Greater Central Federal Credit Union, Killeen, TX

31. December 2021 Administrator Blog (0)
Greater Central Federal Credit Union is a member-owned cooperative that strives to provide its members with affordable and convenient financial services and products. It was formed in 1957 by a group of 9 teachers who contributed money to be used by any one of them in need of finances at affordable rates. To date, the credit union is committed to providing the best services and lending opportunities to its members. It is insured by the NCUSIF (National Credit Union Share Insurance Fund).

The credit union provides the following loans and financial services to its members:

  • Secured Loans: These loans are provided against collateral with a value that is at least 20% more than the loans value. Detailed information about the loans is available on the credit union’s website. APR and the term of secured auto loans for new and used autos is provided. The APR rates for recreation vehicles (ATVs, motorcycles and RVs) are 2% higher than those of used autos. We also provide 72-month vehicle loans. If you want a share-secured loan (one that is backed by a share account), the rate will be 2% more than that of a secured account.
  • Unsecured/Signature Loans: These loans are ideal for unexpected expenses or for projects like a vacation. We offer personal/unsecured loans at affordable rates and make quick approvals upon receiving a completed application and verifying income (loan approval within 24-48 hours). We offer payroll deduction, direct deposit and automatic transfer services for convenient loan payment.
  • Credit Builder Loan: This loan is offered to help members improve their credit score. It works by freezing the amount of money in a share account until the borrower pays off the loan. As per their nature, these loans can be offered even if the credit score is not satisfactory. It is a good choice for anyone interested in getting a loan for the first time. The best part about these loans is that a borrower gets to build credit and also save in one go.
  • Savings Accounts: We offer a range of accounts to provide banking convenience for our members. These include a share savings account, a checking account, a money market account, a Christmas Club, a Vacation Club, Certificates of Deposit, and an Individual Retirement Account (IRA). The requirements for opening a savings account are to be living, working, or worshipping west of I-35, 2 forms of ID, $5.00 for opening an account, and $20.00 to be kept in the account.
  • Other Services Offered: We offer useful financial services such as an amortization calculator (on our website), skip-a payment options, debit cards, Outgoing ACHs, Incoming ACHs, Outgoing wires, Incoming wires, bill pay, gift cards and an audio response system for checking balances, making loan payments and checking cleared drafts.
To know more about the loans and services offered by Greater Central Texas Federal Credit Union, visit 3305 E. Elms Rd., Killeen, TX 76542 or call at 254-690-2274. You can also visit www.gctfcu.net

Checklist For Loan Application

21. December 2021 Administrator Blog (0)



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Choosing The Right Auto Loan

27. November 2021 Administrator Auto Loans (0)



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Features Of A Savings Account

18. November 2021 Administrator Blog (0)

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Savings and Investment Options in Credit Unions

30. October 2021 Blog (0)
Credit unions offer a number of affordable and convenient investment and savings options to members. These options are useful for future expenses such as college education, retirement, vacations and more.

Let us take a look at the savings and investment options provided by Greater Central Texas Federal Credit Union:

  • Regular Share Savings Account: A share savings account pays variable dividends on the savings of members. The account is a precursor for establishing membership in a credit union and availing other services provided. These accounts are liquid in nature and apt for day to day expenses and payments. Funds in a credit union are safe as the institutions are federally insured up to $250,000.
  • Share Certificates of Deposit: These are certificates of deposit issued by credit unions that represent a deposit for a certain span. The deposits earn dividends over a period of time usually ranging between 3 months to 5 years. The interest rates offered are usually higher than those offered on other forms of savings; a longer term of share certificate earns higher dividends.
  • Individual Retirement Account: This is a savings account with tax benefits for credit union members who are interested in savings or long-term investments. Anyone who earns income can start an Individual Retirement Account. The most common types of IRAs for individual tax payers are Traditional and Roth IRAs.
  • Club Accounts: These accounts are savings accounts offered by credit union to members interested in saving for a particular purpose and earning interest while doing so. Such an account remains open for around one year and earns higher rates of interest as compared to other forms of savings accounts. Examples of club accounts are Christmas and Vacation Club accounts. These accounts encourage investors to save for one year and resist the urge of withdrawing before the maturity date.
  • Lending Services: Credit unions offers secured and unsecured loans at affordable interest rates to members. Secured loans are issued in exchange for collateral whereas unsecured loans are issued on the basis of the borrower’s ability to pay. Secured loans are great for those who need larger amounts for the purchase of things like automobiles and even houses. Unsecured loans are in the form of credit cards, personal loans, student loans, etc.
To know more about savings and investment options, you can visit Greater Central Texas Federal Credit Union at 3305 E. Elms Rd., Killeen, TX 76542 or call at (254)-690-2274.

How To Be Savings Smart?

22. October 2021 Administrator Blog (0)
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Affordable Financial Services In Killeen, TX

28. September 2021 Administrator Blog (0)
If you are looking for convenient and affordable financial services, consider availing the services of a credit union near you. Credit unions are non-profit organizations that provide a variety of financial services and products to their members. They are committed towards providing the services at the earliest and are dedicated towards customer satisfaction. Greater Central Texas Federal Credit Union provides a wide array of affordable financial services to its members in Killeen, TX.

Listed below are the financial services and products that can be availed at a credit union:

  • Savings and Checking Accounts: Savings accounts are interest-bearing accounts that offer safety and reliability to fulfill short-term financial needs. Checking accounts are ideal for those in need of quick access to money for daily needs. Credit unions offer savings accounts such as share accounts, money market accounts, Vacation Club accounts, Christmas Club accounts, Certificate of Deposits and Individual Retirement Accounts.
  • Loans: You can avail affordable secured and unsecured loans at credit unions for unexpected expenses. The loans are available at lucrative rates and are approved within 24 to 48 hours upon receiving an application. For the convenience of clients, services such as direct deposit, automatic transfer services and payroll deduction are offered. Secured loans are granted against collateral whereas unsecured loans do not require collateral. Examples of unsecured loans are credit cards, student loans and personal loans.
  • Direct Deposit: A direct deposit is a payment that is directly made to a payee’s account electronically with the help of software. The service is convenient for businesses that have to pay employees and are also useful for tax refunds. Direct deposits are a convenient and safe method of transferring funds. They offer faster transactions, ensure timely payments of salaries and reduce bookkeeping.
  • IRA: Individual Retirement Accounts are for those who want to build up their retirement funds. These accounts can be opened by anyone working and below the age of 70 ½. IRAs offer tax advantages and are considered to be one of the best savings tools. IRA’s are of two types: Traditional and Roth IRAs. They are great for those starting their career, couples, growing families and those nearing retirement. Credit unions offer competitive rates to members interested in IRAs.
  • Other Services: Apart from the services mentioned above, credit unions also offer debit cards, credit cards, wire transfer, ATM services, payroll deduction, notary service, online access, skip-a-payment options, outgoing and incoming ACHs, gift cards, etc. GCTFCU strives to offer its members affordable financial services and convenient lending services.
To know about financial services and products offered at Greater Central Texas Federal Credit Union, visit 3305 E. Elms Rd., Killeen, TX 76542, call at (254) 690-2274 or check out https://gctfcu.net
GCTFCU Blog | Should I Open A Savings Account?
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Should I Open A Savings Account?

28. July 2022 Administrator Blog (0)
A savings account is a type of account offered by a financial institution allowing you to deposit funds with safety assurance. It helps you to manage finances and save for the future without locking the money away for a longer time.

Here are some reasons why you should open a savings account at a credit union:

Savings: Opening a savings account is a crucial way of money management. Regularly depositing money into a savings account prepares you for unexpected expenses or major life events. You wouldn’t have to rely on high interest lenders, as you’ll have a savings safety plug to bear sudden expenditures. It also offers interest on the funds enabling your money to grow over time & making it a sound investment.

Security: With a savings account in a credit union, your funds remain safe & secured. For example, funds deposited at Greater Central Federal Credit Union are insured by National Credit Union Share Insurance Fund (NCUSIF).

Easily Accessible: Funds in a savings account are easily accessible. You can withdraw funds anytime using provisions such as a debit card/ATM. Funds in a savings account can also be used for automated bill payments.

How to Open A Savings Account At Credit Union

  • Become a member of a credit union to get access to various financial products and services.
  • Apply for a savings account.
  • Check the eligibility criteria and other requisites for the savings account.
  • Collect all the required documents and start the procedure.
  • Once your account is active, make sure to add funds to it.
Requirements for Opening Savings Account at GCTFCU:

  • 2 forms of ID (original social security card and picture ID)
  • The person should be living & working in the west of I-35
  • $5.00 fee for opening an account
  • $20.00 to remain in the account
Savings Accounts Available at GCTFCU

  • Share Savings Account
  • Certificates of Deposit
  • Money Market Accounts
  • Individual Retirement Account
  • Christmas Club
  • Vacation Club
Greater Central Texas Federal Credit Union offers various savings, investment & lending options in Killeen, TX. The credit union also provides multiple account services to savings account holders. For more details on savings accounts, visit Greater Central Texas Federal Credit Union at 3305 E Elms Rd, Killeen, TX – 76542 or call (254) 690 - 2274. You can also contact us at www.gctfcu.net
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GCTFCU Blog | Auto Loans In Killeen By GCTFCU
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Auto Loans In Killeen By GCTFCU

27. July 2024 Administrator Blog (0)
Auto loans are a popular financing option for individuals looking to purchase a new or used vehicle. These loans allow buyers to spread the cost of the car over a set period, making it more manageable to afford a vehicle that meets their needs. When considering an auto loan, choosing the right lender is crucial to securing favorable terms and conditions. Credit unions are often an excellent choice for auto loans for several reasons.

Why Credit Unions Are a Good Choice for Auto Loans

  • Interest Rates: Credit unions typically offer competitive interest rates on auto loans. As member-owned, not-for-profit institutions, they prioritize serving their members’ financial interests, resulting in more competitive rates.
  • Personalized Service: Credit unions are known for their customer-focused approach. Members often receive more personalized service, with loan officers taking the time to understand their financial situations and offer tailored advice.
  • Flexible Terms: Credit unions often provide flexible loan terms. This flexibility can be particularly beneficial for individuals with varying credit histories.
  • Community Focus: Credit unions are community-based institutions that reinvest profits into their services and community initiatives. By choosing a credit union for an auto loan, members support local development and benefit from an institution that values their community.
  • Member Benefits: As members of a credit union, individuals often gain access to a range of other financial services and products, such as savings accounts, checking accounts, and financial education resources.
Steps to Get an Auto Loan from a Credit Union

  • Join a Credit Union: To join a credit union, first ensure you meet the membership requirements. These often include living in a specific area, working for a particular employer, or belonging to an associated organization. Once you confirm eligibility, fill out a membership application and make a small initial deposit, typically required to open a savings account.
  • Check Your Credit Score: Start by obtaining your credit report from one or more major credit bureaus. Review the report to verify the accuracy of the information and address any discrepancies. This step is crucial to understand your credit standing before applying for a loan.
  • Determine Your Budget: Calculate how much you can afford for a down payment, monthly payments, and additional costs like insurance and maintenance. Consider getting pre-approved for a loan to understand the loan amount you qualify for, which can streamline the car-buying process and provide a clear budget.
  • Gather Necessary Documentation: Prepare to provide personal information, including identification like a driver's license and Social Security number. You will also need to submit proof of income, such as pay stubs or tax returns, and present details of any existing debts, including other loans or credit card balances.
  • Submit a Loan Application: Fill out the auto loan application form provided by the credit union. Attach the necessary documentation, including proof of income and identification. Carefully review the loan terms, including the interest rate, repayment period, and any associated fees, before submission.
  • Loan Approval and Offer: The credit union will review your application and assess your creditworthiness. If approved, you will receive a loan offer outlining the terms and conditions. Review the offer thoroughly and accept it if it meets your needs and preferences.
  • Finalize the Loan: To finalize the loan, sign the loan agreement to confirm the terms and conditions. The credit union will then disburse the funds, either directly to you or the car dealership, depending on the arrangement made.
  • Purchase the Vehicle: Negotiate the final purchase price of the vehicle with the dealership. Complete the sale by providing the necessary funds from your loan and any additional payments you are making. Ensure all financial transactions are settled as per the agreed terms.
  • Set Up Repayment: Confirm the repayment schedule and set up automatic payments if available to ensure timely payments. Incorporate the monthly loan payment into your budget to maintain financial stability and avoid missed payments.
For more information about auto loans in Killeen, visit the Greater Central Texas Federal Credit Union, 3305 E. Elms Rd., Killeen, TX 76542, or call (254) 690-2274. You can also browse www.gctfcu.net and connect on Facebook and Instagram.
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