Checklist Before You Visit A Credit Union 29. January 2018 Administrator Blog (0) Credit unions are highly preferred by many due to their lower cost of borrowing. They are owned by the members and adopt a personal approach towards their loans. They are non-profit cooperatives whose main goal is to provide the members with financial services.1. Fit Into The Criteria For MembershipThe first thing you will have to ensure is that you fulfill the requirements of becoming a credit union member. These requirements may vary amongst different credit unions. Find out what your local credit unions requirements are and get them fulfilled in order to become a member and avail low interest loans. 2. Demonstrate Credit WorthinessIt is imperative to work on your credit scores before visiting a credit union. You will be required to show a proof of good credit before being considered as a member. The low interest rates come at a price of a good credit record as credit unions have to be assured that the loan will be repaid.3. Prepare Your DocumentsYou are required to submit documents for opening an account with any credit union. You should seek a list of documents required and prepare all of them before visiting.However, following is a list of some basic documents that almost all credit unions ask for - Identity proofAddress proofDate of birth proof4. Make Arrangements To Fulfill Minimum Balance RequirementMost credit unions expect a modest opening deposit depending on whether it’s a savings or checking account. Members are expected to maintain some minimum balance in their accounts. Non compliance may lead to additional monthly service charges. 5. Compare Your OptionsBefore picking a credit union, do some research on the products, services and rates they offer. Look out for what suits your specific requirements. You might even have to overlook factors such as the location of branch and working hours. Nowadays a lot can be done on mobile devices. Always be aware of the protection you are being offered by a credit union and the limits on that protection if any.Greater Central Texas Federal Credit Union is a member owned cooperative that started in 1957. The loans offered by us are flexible and customized to suit the financial interests of our clients. For more information about our services, visit us at 3305 E. Elms Rd., Killeen, TX 76542 or call us at (254) 690-2274.
Benefits Of Availing Online Service Offered By A Credit Union 28. December 2017 Administrator Blog (0) Credit unions are a favorite amongst masses due to the services and convenience they offer to their members. Not only do they offer online tools and facilities which save a member’s precious time and money but they also provide some of the best secure online services free of cost. Examples of such online services are payment of bills, banking, offering e-statements, mobile banking and so on. Here we have listed certain benefits of availing online services of a credit union.Keeping Up With Your Accounts 24/7Availing the online banking services that credit unions offer makes it convenient and easy for members to access and manage their money at any hour of the day. There are no forms to fill, no queues, etc. Your money is just a tap away. You can also get details about previous transactions and current balance by click of mouse though online panel provided by credit union. Easy Transfers This is a person to person service which makes it easy to send and receive money securely. No need to write a check to send someone money. The Electronic Transfer service lets you carry out these transactions in less than a day’s time.Fast And Secure Monthly Statements Online services save on a lot of time by offering members the facility to access e-Statements. It becomes very easy to manage finances as per ones convenience. The e-Statements and forms are available on PC’s and smartphones. All you have to do to sign up for these statements is to log on to your credit union’s online banking account. Protection Of Personal And Financial InformationWith more people leaning towards transacting online, the security of one’s personal and financial information is crucial. When availing online services offered by credit unions, you are completely safe. Information of each and every member of the credit union is highly secured.Timely Payment Of BillsCredit unions offer online bill payment through which you can make quick and secure payments, anywhere and at any time. In a flick of a second, you can view your bill details, history, make payments etc. You would never forget to make important payments as Credit Unions offer you a convenient service through which you can pre-schedule them. We, at Greater Central Texas Federal Credit Union, offer various online services to our members in Killeen, TX. For more information call us at (254) 690 – 2274.
Things To Know Before Joining a Credit Union 25. November 2017 Administrator Blog (0) View Full Image
Advantages Of A Credit Union 22. March 2017 Administrator Auto Loans, Blog, Home Loans (0) View Full Image
Credit Union: Benefits Of Membership 27. December 2016 Administrator Blog (0) Since many years, credit unions have become a preferred choice of people who are looking for affordable and reliable financial services. Though they seem similar to other organizations, membership at a credit union comes along with many additional benefits to maximize benefit for the clients. Whether you are looking for an affordable home/auto loan or looking for beneficial savings and investment options, credit unions can offer you the most liable solution.Given below are some of the benefits of becoming a member of a credit union in Killeen, TX: Low interest financing optionsThe most significant benefit of joining a credit union is that you can avail home and auto loans at low interest rates. Being a non-profit organization, credit unions are exempted from paying the state and federal taxes which allows them to offer affordable financing options. Also, there are no stakeholders to share the returns and all the profits are directly returned back to the members. Easy application processThe process of applying a loan at a credit union is quite simple and straightforward. It does not involve extensive paperwork and the staff provides complete assistance through the entire process. You just need to fill out the form and submit the necessary documents. The processing charges and other fees are also minimal. Quick loan approvalWhen you apply for a loan at a credit union, you can expect to get approval within a few days. In case of a secured auto loan, there are no rigorous background checks to be performed. The collateral provided by the borrower serves as a security against the loan amount. Therefore, such loans are usually approved within 48 to 72 hours. Quality customer serviceThe staff at the credit union works with the sole purpose of providing convenient and superior services to the members. They provide personal attention to each client and help in resolving their queries regarding financial transactions. The customer service representatives are very knowledgeable and responsive to the clients’ concerns as well as feedback.Volunteer board of directorsUnlike banks, credit unions are member owned and operated organizations. The board of directors are elected and nominated by the members every year. The board then formulates the policies and monitors the working of the credit union. Equal rights Being a member of a credit union makes you a part-owner along with the right to say in the governance matters. All members can share their opinion and provide suggestions regarding new policy, irrespective of the amount of money in their account.No stringent rules on minimum account balance Credit union members are not liable to maintain a minimum balance in their account. They have complete freedom to withdraw as much money they want from their account any time. Also, the checking and savings accounts are federally insured by the National Credit Union Administration (NCUA) to provide complete security for your deposits. Dividend on savingsAt the end of every year, credit union members are entitled to attractive dividends on their savings account. All the profits earned by the organization are returned to the members in the form of dividends and attractive loan rates. Hassle free account accessCredit unions in Killeen have a well-developed ATM network that allows you to withdraw money anytime and anywhere. You can even avail personalized services during the office hours or opt for online account access to view your loan summary and the financial transactions related to your account. Lifetime benefitsCredit union membership offers lifetime benefits. You can continue availing the financial services even if you change your job, or place of residence. Some credit unions even allow you to nominate your immediate family members to become a member and avail the same benefits. Additional servicesApart from loans, credit unions also offer a wide range of other financial services to the members. Some of these include low rate credit cards, payroll deduction, ACH origination, direct deposit, notary service, MasterCard gift cards, wire transfer etc. Be a member of Greater Central Texas Federal Credit Union to avail a wide range of financial services. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX 76542.
Benefits Of Using A Credit Union 26. October 2016 Administrator Blog (0) Over the years, credit unions have emerged as a safety refuge for people who wish to save money as well as earn interest out of their savings. These are not-for-profit institutions that aim at keeping the members first. They offer a wide range of financial services, membership benefits and attractive policies which sets them apart from other financial institutions. Discuss below are some benefits of using a credit union:Superior service that keeps members firstCredit unions are financial cooperatives that are owned by the members. Their aim is not to make big profits for stockholders, but to provide financial assistance and customer service to the shareholders. The credit unions take an extra step where they involve the members to vote on the new policies and take account of the suggestions. Credit unions offer lower interest ratesOwing to their not-for-profit status, credit unions offer high rates on savings account and lower rates on loans as well as credit cards. These rates are competitive and promote savings. Thus, you can enjoy lower rates on your credit cards, house loans and auto loans while you can earn a higher rate of interest on savings and cash deposits. No minimum balance constraintUnlike other financial institutions, a credit union does not have to maintain a minimum balance or cash reserve ratio. Thus, it is not mandatory for the account holders to maintain a minimum balance in their financial account. This feature allows customers to withdraw all or keep no money in their account. Flexible feesCredit unions are very flexible when it comes to charging fees. They usually aim at charging less and keeping the costs low for the members. They prefer to eliminate a few products and services in order to cut costs, rather than piling up on the fees.Easier access to cashCredit unions have come up with the CO-OP ATM network and a shared branch alliance. This includes surcharge-free cash machines and shared branching that gives members the ability to conduct in-person transactions at a larger number of branches across the state. Also, these CO-OP ATMs do not charge any transaction fee.Friendly and cooperative staffThe staff at credit unions is friendlier and more cooperative as compared to other financial institutions. They are also easily accessible to address your queries and concerns regarding any financial matter. They only invite members who are local and thus are comparatively smaller. This allows them to be well connected with their surroundings and better at giving feedback.Provides loan regardless of credit historyThis is another major benefit of being a member at a credit union. These institutions are willing to provide quick loan approval to people regardless of their credit history. They also offer programs that help you manage your budget and unexpected expenses. The Add-OnsA more attractive feature of opting for a credit union is the additional products and services they offer, besides financial services. You may come across some credit unions that have provisions like individual health insurance and financial advisory services. They aim at community service and providing financial education. All in all, credit unions prove to be community friendly and more welcoming when it comes to providing financial services to the local people. They offer a lower interest rates, and fee -free ATM transactions. Thus they work on a different and more welcoming business model, which makes them customer friendly.