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- Certificates of Deposit: These deposits pay higher interest to the members, provided the amount deposited is not withdrawn for a specific period of time.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.
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.
A credit union is a not-for-profit financial cooperative that provides traditional banking services such as opening accounts and offering loans. It poses as a great option for financing a new or used car because credit union members enjoy benefits such as low interest rates, minimum loan requirements, financial advice, etc.
Listed below are reasons due to which it is highly recommended to borrow a car loan from a credit union:
- Membership Process: The prerequisite for applying for a car loan from a credit union is that the borrower should be its member. The membership eligibility requirements are based on where a prospective member lives, works or worships. Once you find a credit union that you are eligible for, all you need to do is submit a duly filled application form with required documents and make a small deposit to open an account. Being a member of a credit union, you are eligible to apply for a loan from that credit union.
- Low Interest Rate: Credit unions offer highly competitive interest rates on car loans. The underlying reason is that credit unions are non-profit organizations which reinvest their profits to benefit their members.
- Quality Customer Service: Members of credit unions enjoy personalized services. They are encouraged to discuss any concerns they may have about the loan, inquire about flexible repayment options and review their financial situation with professionals.
- Non-Sales Approach: Credit union’s aim is to offer members high quality financial products and services without focusing on profits. Instead of trying to sell a service, credit unions try to help members make the best financial decision as per their individual requirements and financial status.
Greater Central Texas Federal Credit Union offers car loans to its members. The members can apply for loans online or visit the credit union. The credit union offers other services including a variety of savings account, MasterCard, checking account, etc. Members can choose the services that match their requirements and contact the officers for understanding the terms. For more details on reasons to buy car loans from a credit union visit, 3305 E. Elms Rd., Killeen, TX – 76542.