Credit Union Rates

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Why It Is Easy to Benefit from Low Credit Union Prices on a Loan

When it comes to locating a loan that is fitting for the lifestyle, and your revenue, a lot of people tend to forget about the amazingly low credit union rates on loans. Maybe it is because people just go with what ever is easiest for them, and simply get a loan from the company they are purchasing the item from. Perhaps they have never learned about credit unions before. Whatever the reason, too many credit union loans go unused simply because folks fail to take advantage of them.

But you are not like a lot of people. You know a good deal if you notice it, so the the next time you plan on building a big ticket item purchase, you plan on taking to your local credit union to see what they can offer you. Hold on one minute, though. There is no reason for simply walking in to a credit union to take advantage of those low credit union rates. No, you must belong to the union in order to get a loan from their website.

So the first thing you have to do is a little bit of online research to see what the needs are to join credit unions in your town. Even if you dont meet the requirements for anyone particular credit unions, there may be much more in other places in the say that you do meet the requirements with regard to, so do not stop searching for a credit union simply because you cant find one in just a few miles of your house. Once you have located the credit union that would be perfect for you, call them upwards and have them send you sign up forms and membership materials. Load those out, deliver them back in, as well as in no time you will have access to the great, low credit union rates on your following loan.

Comments: 35

  1. Rodrick January 27, 2013 at 11:14 pm Reply

    I’ve always compensated my bill promptly. I have not exceeded my limit. I will always be a great customer. Ofcourse they do not care. They’re raising the speed simply because they can. I’m thinking about joining a bank and transfering my good balance to certainly one of their charge cards. The rates tend to be lower. Are any one of everyone people of the bank? Would you enjoy it?

  2. Terrance June 25, 2013 at 9:23 pm Reply

    Due to all the hubbub over the banks wanting to add fees to debit cards,etc, I have been thinking about switching to a credit union instead. Can someone explain the difference between the two and the pros and cons?

  3. Samatha July 1, 2013 at 8:42 pm Reply

    I went to go buy a car today but the interest rates were ridiculous. My mom told me that i can get no higher than an 8% interest rate if i financed the car through the credit union with the store that i work at. She did the same thing for her car and the credit union financed the car at a 6.5% interest rate which when compared to 25% is not that bad. Are there certain requirements i have to meet before i can get this benefit?

  4. Serina July 23, 2013 at 1:45 pm Reply

    I’m considering working at a credit union in Michigan. I’ve seen on other message boards that credit union tellers get paid more than bank tellers (I don’t know how true that is). I want to find out so I can put on the application an hourly rate that is fair (I don’t want to miss out on cash I should be getting, yet I don’t want to ask for an amount that is too much). Thanks in advance!

  5. Gregory September 3, 2013 at 12:05 pm Reply

    I’m looking into teller jobs, both at banks and credit unions. Is there a difference working at a bank or a credit union? I heard at a bank its 50% sales, 50% transactions, and with credit unions its hardly any sales involved. I don’t know if this is correct though. Whats the difference?

  6. Hoyt September 16, 2013 at 11:40 pm Reply

    I was suggested to get a saving and checking account at a credit union and there is one in my city called american’s first credit union,my question is what is the difference between banking at a regular bank and a credit union?

  7. Emmy November 15, 2013 at 8:10 am Reply

    I am thinking of getting some cd’s at Alaska USA Federal Credit union in the state of Washington. I would like to know if anyone know how to check on this credit union for stability. It has the insurance for up to the limit of 250,000. Please only serious answers. Thanks!

  8. Esteban December 4, 2013 at 6:42 am Reply

    I was thinking about joining one but how is a federal credit union different from a bank? Can you open up a savings account in a federal credit union, and can you do so eithout without the banks knowing about it? Does the money you invest into get reported to Social Security? Please let me know. Thank you.

  9. Marianne December 19, 2013 at 1:04 am Reply

    I have less than perfect credit – to say the least. I am approved through a dealership with a hefty down payment and high interest rate. Would my chances be better with my credit union?

  10. Elana December 23, 2013 at 10:42 am Reply

    Should I use a credit union or a bank? What has been your experience, with one or both?

  11. Jo December 23, 2013 at 10:50 am Reply

    I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, and a 5-year Balloon for 17% of the value, and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender.

    I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %.

    If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down?

    What are your thoughts?


  12. Eboni January 21, 2014 at 7:13 pm Reply

    I was an Assistant Branch Manager at a small town credit union while my husband was working in the town. We refinanced our vehicles through them at a low interest rate and maybe a year later, we found out that we were being relocated. Approx 3 months later we got a letter in the mail saying that since I was no longer an employee and since we had moved out of state, they were raising our interest rate by 8%!!! Is that legal? I’ve never heard of that before, and I just got a new statement from them…the rates are horrible and we are planning to refinance here locally, but still wonder if the rate change was justified? Can someone please shed some light?
    Even though we are out of state…we still DO have a savings account with the Credit Union and a Christmas account and there is nothing in the contract allowing for a change of interest rates….the reason for my question. There was also no mention of interest rates changing prior. I never ran into a situation where someone’s interest rate changed the entire time I was there. We have never missed nor been late on a payment and I see no reasoning for this…Thank you for all!!!!
    I am looking at the contract…I see nothing in here about it….
    Are we talking about an employment contract, or the Security Agreement? I would have to get a copy of the employment contract faxed over…I don’t ever remember anything in there about it either…

  13. Lillie February 2, 2014 at 6:11 pm Reply


    I would like to get a personal loan to pay off my credit cards. My credit is not that good, so does anyone know the chances of me joing the local credit union and securing a personal loan with them? (would it be crazy to apply for a $5000 loan?)

    I have a good job, I have never been late with my car payment. I’m just overwhelmed at all the seperate credit card payments I have. I want to start fresh & get out of debt!

    About how much do you need to start an account w/ a credit union?

    Any expert advice would be greatly appreciated! Thanks,
    P.S., There are only 2 credit unions in my city (yeah, I know…it’s a really small town) and their websites say that membership is open to those who live, work, or go to school! (we’re a small university town). I also work for the university…

  14. Margie February 2, 2014 at 9:04 pm Reply

    I work for a major museum,need a loan,but I don’t know how they work.

  15. Donte February 21, 2014 at 11:01 pm Reply

    explain exactly what a credit union does

  16. Marian February 22, 2014 at 2:17 am Reply

    Is there a reason for this? Does the bank offer services the credit unions don’t?

  17. Adolfo February 22, 2014 at 3:09 am Reply

    I am just wondering, like i apply for personal and auto loans through my bank “wells fargo” and they will not let me get any loan without a cosigner and my credit is not good enough to get it by myself yet. im 19 and i need extra money for school supplies and hopefully a new computer and also i want a car….nothing brand new or too expensive but just to get me to work and school, im not sure what i should do. I work at a grocery store and make average at least 200 a week. Should i try at a credit union, do they usually work with people with little credit? help please!!!

  18. Frederic February 22, 2014 at 6:18 am Reply

    I am buying my 6 year old lease car from Honda. Price is 3500. I can pay 2000 now and the rest over a few months. Honda HQ say they can’t handle it that way, local Honda says I need to to go to a credit union, I think. Any advice, friends?

  19. Jame February 22, 2014 at 6:19 am Reply

    Hi ppl,

    I waws wondering what type of bussiess does the vancity credit union does?

  20. Jonah February 22, 2014 at 6:19 am Reply

    I have to write an essay about credit unions in order to try and get a scholarship for college, but I don’t know much about them. So any information about credit unions or your experiences with them would be great

  21. Ronny February 22, 2014 at 8:19 am Reply

    My credit score last I looked was close to 750. I’m about to pay off a couple of loans I have in the next few months so that should bump it up a little more I’m hoping. I’m interested in purchasing a new vehicle. Vehicle price is about 21K and I plan on putting 10K down. I’m looking at financing anywhere from 3-4 years. Can anyone tell me an average rate someone with my credit score putting that amount down should expect in an interest rate.


  22. Edmundo February 25, 2014 at 11:56 am Reply

    Aside from different rates, are there any differences in securing an auto loan from banks and credit unions?

  23. Glayds March 7, 2014 at 11:11 pm Reply

    Is joining a credit union a decent way to get access to loans at best rates and can anyone join…such a thing as a credit union open to the general public?

  24. King March 19, 2014 at 5:27 pm Reply

    I have most of my money sitting in a savings account & I want to gain more interest on it. Im looking into stashing half of it in a cd for at least 5 years but from what I’ve researched there’s only 3 credit unions in the metro city area. I’m really busy with school and work so I don’t get out much, anyone have some firsthand experience on credit unions & their services?

  25. Jerrod March 19, 2014 at 5:28 pm Reply

    Whats better a Credit Union or a Bank. Banks are starting to add more charges to their clients. But Credit Unions are small community banks.

  26. Giselle March 19, 2014 at 5:28 pm Reply

    can some1 plz explain to me the difference between the two.. and which is better?? and why??

  27. Elfrieda March 19, 2014 at 7:51 pm Reply

    whats a good credit union? and how do they work?

  28. Eloisa March 20, 2014 at 3:35 pm Reply

    My current interest rate from Toyota is around 10%. What kind of percentages do other banks or credit unions offer? Any suggestions on any specific banks or credit unions?

  29. Dagmar April 18, 2014 at 2:34 am Reply

    In general, are credit union mortgage rates better than banks and brokers? yes or no – Thanks

  30. Erma April 22, 2014 at 1:29 am Reply

    Are they like banks? Does the US have them? How do they work?

  31. Curtis May 8, 2014 at 5:14 am Reply

    I need to get an auto loan. which firm is likely to give me a more lower rate out of these two? i just established credit so i have no credit history yet. amount i need is 10k.
    job i’m currently at i been with for eight months, job before 2 yrs. i currently bank with a credit union. got my first credit card about a month ago. yes i am a responsible kid. have over 8 k saved up, but not planning use it all for car. i wuz thinking if i could use someone elses money to buy a car, why not? yes i will pay interest but establishing credit is important. i’m sic of trying to find co-signer. i make about 1520 a month and still live with parents haha. full time college student too
    oh yea, my dad has bad credit so i can’t get a co signer

  32. Erma May 8, 2014 at 4:27 pm Reply

    I financed a 2005 Toyota Corolla CE @ 17.49%…=/ Even though I have not made my first payment with the bank, which isn’t due until Jan 1 2008; Is it possible to refinance the vehicle with a credit union at a lower rate (American Heritage)…
    I dont mind the same payments; just shorter term
    My monthly payment is $380.31/75 months, which is about $28,000 for a car 1/4 worth what it is…
    Luckily Mom pays it!
    As for my credit score, it’s ranges from 590 – 602 with the three credit companies, which everything is postive…

  33. Newton May 25, 2014 at 10:26 am Reply

    I am a Sophomore in high school and I am about to get my first job. I am wondering if I should put my money in a credit union or a bank? Also please explain Pros and Cons of both, and interest and what not etc.


  34. Indira June 23, 2014 at 3:07 pm Reply

    I’m hearing more and more about people leaving banks and going to credit unions. What’s the difference and which one is generally better?

  35. King June 23, 2014 at 6:48 pm Reply

    What is it and what are the risks, benefits, and how do you become a member of? Do you get better interest rates if you are in one??

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