• Willingness to give loans: Credit unions understand their members‘ needs to take loans and patiently assess their credit history and financial ability to provide them the required amount. The loan eligibility requirements are not so stringent at a credit union which increases the likelihood of getting an approval.
• Low fee and rates: The purpose of a credit union is not to make profits but to offer financial aid to the members to its members. Thus, they offer low interest rates and processing fees on all loan plans.
• Personalized service: The credit union board of directors consists of the members and thus you can expect to receive personalized services. The staff reviews your concerns regarding loan term, repayment flexibility and financial needs to offer a customized loan plan.
• Provide proper education: Credit unions provide complete assistance to the members regarding the financial tools and resources available. Thus, you can seek guidance regarding how much money you should borrow or the premium amount you should settle on as per your financial position. Credit unions have professionals to guide you through the loan process.
• Unions are stable: Market fluctuations do not make your monthly repayments volatile when you have get a loan from a credit union. This is because the source of their finance is the deposits of other members. This make the credit unions a stable source to finance your home or vehicle purchase.
• Other benefits: Besides simplifying the loan process, the credit unions also offer many other services for the benefit of its members. These may include wire transfer, savings and checking account, MasterCard, ACH origination etc.

• Chances of approval are more: Credit union is open to listening to the back stories of its members and then deciding on the loan terms. If you are worried about little or no credit history, you may discuss your concerns with the staff and figure out the best way to get the desired loan amount.

• Convenience: The inter-personal approach of the credit union makes it convenient to apply for the loan even before you make the purchase. A pre-approved loan in your hand helps you to fix the budget for the car and spend prudently.

• Competitive interest rate: Credit union offers low interest rates which keep your monthly payouts on lower side. Since they know credit history of their members closely they are likely to keep their interests in mind before sanctioning the loan.

• Bundling: If you have an ongoing loan with the credit union , such as for your home, your interest rate may further be lowered, making it a better deal for you as they encourage bundling.

• Personal touch: A credit union is a non-profit organization that works for the community. You can get proper knowledge and education about all financing tools in a personal manner at a credit union. The staff takes the time to help clients understand the loan details in order to make a well-informed decision.

• Educated advice: Credit union has dedicated financial experts who are committed to provide information about financial products to the members. Their aim is to keep everyone informed of new policies and rates. This non-sales approach helps the members to build confidence.

• Provide stability: Credit union is operated by the members and for the members. They plough back all their profits back in to improving the services for members. This gives them stability and they are not likely to be affected by profit motives.

• Income Proof: This is the most important document to be presented by the loan applicants. If you are a salaried individual, you may need to submit at least two of your recent pay stubs from the employer. For self-employed applicants, a copy of the tax returns of the last two financial years may be required. A bank account statement for the past 6 months may also be needed. If you have any source of sizeable income, such as rental properties, alimony, legal settlements etc. do provide the documents for validation.
• Identity Proof: You must submit a valid identity proof and a recent photograph along with the application for the secured auto loan. The ID proofs that may be accepted include social security card, birth certificate, passport, driver’s license etc. It is recommended that you confirm the identity proof required by your credit union beforehand to avoid any trouble later. 
• Proof Of Residence: You may also need to submit proof of present and permanent address to apply for the loan. The document you provide should have an address consistent with that on your proof of identity as well as the loan application. 
• Vehicle Information: If you are buying a new vehicle, you may need to give the vehicle identification number (VIN) to the lender. You may also be asked to submit he sales agreement from the dealer which may include the type, make, model, year and purchase price of the vehicle. For buying a used vehicle, get information about the original title, vehicle model and disclosure of no pending liens from the dealer. 
• Proof Of Insurance: The credit union may also want to ensure that you have a valid insurance policy for your vehicle. The coverage options that you have chosen may also be considered while approving your loan application and deciding the interest rate.
  

• Higher chances of approval: If you have a lower income, you stand a higher chance of getting an auto loan approved at a credit union than at a bank. The staff at a credit union is inclined towards adjusting the terms of the loan to suit the needs of each client. Pre-approved auto loans may also be extended to make your vehicle purchase a hassle free exercise.
• Competitive rate of interests: The biggest benefit of getting an auto loan from a credit union is that the interest rates are quite competitive. As these institutions are not liable to pay any state or federal taxes, they are able to offer loans at much lower interest rates.
• Non-Sales Approach: Since a credit union works for the benefit of its members, the staff does not compel the clients to purchase the loan. Instead, they help the clients compare different loan plans and choose the one that best suits their requirements.
• Profits are ploughed back: All the profits earned by the credit union are returned back to the members by way of low interest rates, higher dividends and more returns on savings accounts.
• Friendly service: The management team of a Credit union comprises of members from the organization itself. You may have one to one sessions with loan officers and discuss your queries while your loan is being processed. Unions are flexible and comforting to their member’s concerns.
• Membership is easy: Becoming a member at a credit union is quite easy. The eligibility criterion to be approved for an auto loan is also not too stringent at a credit union.
  

• Lower interest rates: Credit unions, being non-profit organizations are not liable to pay any taxes to the state or federal government. As a result, they offer considerably lower interest rates on car loans. This means that your monthly payments will be low and you can save more.

• Flexible terms and conditions: The terms and conditions of car loans are usually flexible at a credit union. Working with a client centered approach, the credit unions are more considerate towards the financial needs of the members. Their policies are flexible enough to adjust the repayment options and loan duration according to the convenience of the clients.

• Better customer services: The credit union is easy to approach and there are lesser formalities involved in the car loan application process. Their staff provides complete assistance to the clients in filling out the application form and getting the paperwork ready.

• Convenient loan process: The process of getting loan is more relaxed at credit unions. The clients can even apply for a car loan through the credit union’s website. This eliminates the need to be physically present at their office.

• Membership benefits: The credit unions also offer various other banking and financial services to their members. This includes wire transfer, payroll deduction, notary service, savings accounts, direct deposit, ATM, ACH origination, MasterCard Gift Cards etc.

• Members have a say: All the members are stakeholders and part owners of the credit union. Therefore, they are given the right to choose the board of directors and vote on the important matters concerning loan rates, terms and working of the credit union.

• Payroll Deduction: We provide our members with the most convenient way to make loan payments, save money, deposit money into children’s account etc. We will automatically deduct a specified amount every month from your paycheck without you having to visit the branch personally.
• Direct Deposit: When you sign up for our direct deposit service, you can get your payroll, pension, social security, tax refunds or retirement benefits check deposited directly into your credit union account. You need to fill up a form to avail direct deposit and specify the account details where payments need to be sent.
• Notary Service: This is a service provided to all our members to easily get their documents attested and certified. We provide notary services for all types of affidavits, title transfers, power of attorneys, deeds etc. 
• MasterCard Cash Advance: At the credit union, we aim to make it easier for you to obtain cash, whenever you need. Hence, we offer Cash Advance service at minimal interest rates on your MasterCard credit card. You can avail the service at any of our ATMs or at the branch itself. 
• On-Line Access: We offer several options to our members to manage their finances and access their account online, at any time of the day. You just have to log in with your username and password to avail a host of banking services. 
• MasterCard Gift Cards: Our MasterCard Gift Cards are a wonderful option to make your loved ones celebrate their special day the way they want. 
• Wire Transfer: Transferring funds from one financial institution to another is safer and convenient with our wire transfer service.
  

• Lower Fees And Better Rates: Credit unions operate with the sole objective of working for the welfare of their members. All profits that they earn are returned in the form of lower rates of interests, better services, and minimum fees.
• Volunteer Board of Directors: Unlike banks, the functioning of credit unions is administered by a volunteer board of directors. When a member opens an account, he/she is immediately given certain share in the credit union. Every member has an equal say in the governance matters, regardless of the size of their account.
• Board Elected By Members: Every year, the credit union conducts elections where the members are free to choose who would be serving on the board of directors. The elected members, then, formulate and implement the policies of the credit union.
• Flexible And Convenient Loans: Members of a credit union can avail convenient home and auto loans with easy repayment options. Also, filing for and getting approved for a loan is a very easy process. It does not involve much paperwork and the application is approved within a few days.
• Dividend On Savings: The profits earned by a credit union are usually returned by way of attractive dividends on the savings account of the members. The dividend rate may vary from year to year.
• Members Have Common Interests: Members of the credit union share a common bond of owning a share in the union. To be a credit union member, the individual must fulfill certain eligibility criteria, such as area of employment, place of residency or affiliations with other institutions. This implies that each of them holds something in common.
• Convenient Access To Your Money: Most credit unions offer online account access so that the members can easily view complete summary of their financial transactions. Thus, you either opt for 24X7 access or personalized services during the office hours. 

Buying a home is a big investment which requires a lot of hard work. If you have made up your mind to own a house then there is a list of things that you should consider. Home buying can be quite a lengthy process and it would be a safe bet if you have good knowledge about the whole process. Listed below are some of the most important things that every buyer must know before initiating the process of owning a home.

Pre-approval is necessary

Even if you have a huge amount of cash in hand, you will need the help of a lender. It would be good if you consult your home loan financier before even starting searching for a home. During this, you may be asked to provide detailed information about your income and finances.  With the help of this information, your lender will be able to provide you an outline of the cost that you will be able to afford which will be your first guideline to search a home.

Take the help of an agent

Taking the help of an agent is purely up to the personal choice of every buyer. However, hiring an agent can assist you throughout the process of buying. They have a fair idea about the available properties and their estimated market prices while helping you sign a reasonable deal. The realtors will also work out all the price negotiations with the seller.

Signing the agreement

Once the buyer and seller agree upon a price, the agent makes them sign an agreement. This will secure the deal for both the buyer and the seller and will include all the details about the property like the agreed price and the legal description of property.

Financing and Mortgages

You should make sure that you have selected the best home loan option. Credit unions are a better option when it comes to financing a loan. They provide instant approval for various types of secured as well as unsecured loans.

Keeping all the above point in considerations, you can’t go wrong while buying a home for the first time. But, it is important that you choose the correct and reliable home loan plan for you. We, at Greater Central Texas Federal Credit Union, provide all types of secured and unsecured home loans in Texas. For any information, you can call us at 254-690-2274.

Buying a car is one of the most important decisions that people make in their lives. It is a one-time investment which needs careful planning and preparation, down to the last little detail. Due to the high expenses involved most people go for financing when they think of buying a car. If you are thinking of taking out an auto loan, you need to find the right place where you can get the best rates and the best repayment terms. Credit union is one of the best options for an auto loan as they offer low interest rates and minimum credit checks.

There are various palpable and distinct advantages of applying auto loans from a credit union To name a few are:

• Easier Approval – A credit union is one of the easiest places from where you can get your auto loan approved. If you have different needs or are in a unique situation, a credit union is more than likely to listen to you and try to understand your issues. Credit unions are usually more open to making adjustments in their rates and their repayment process while keeping the actual underwriting procedure and same loan application procedure.
• Lower Interest Rates – If you take out your auto loan from a credit union you can expect a much lower rate of interest than if you approach any other institution. With those significantly lower interest rates, you stand to make long-term savings that you can successfully use in other areas.
• Customized Services – Since credit unions are in essence non-profit organizations, they attach great importance to customer service. Instead of a corporate office making decisions credit unions have a board of volunteers. This makes credit unions much more accessible and personable as compared to other institutions. You get a friendly vibe and camaraderie with the belief and trust that the credit union has your best interests in mind all the time.
• Information – Most credit unions have attached resource and education centers with the sole purpose of educating customers about different kinds of financing schemes and decision making. When you are looking to an auto loan financed with a credit union you can be sure to gain the knowledge and the insight to make a learned decision.

To apply for affordable auto loan in Killeen TX, kindly visit us at Greater Central Texas Federal Credit Union. We have amazing deals on auto loans for all our customers. For more information, visit us at 3305 E Elms Road, Killeen, TX 76542 or call at 254-690-2274.