GoodToKnow: Reasons to Finance at a Credit Union

So, You Want to Save Some Money On Your Car Loan?

Consider YOUR Credit Union -- Willis-Knighton Federal Credit Union.

Even Credit Karma Inc. suggests considering a credit union for financing your vehicle, here are some excerpts from what they had to say on April 17, 2019.

“In a Nutshell -- If you’re shopping for a car and need to finance your purchase, you may want to consider getting a car loan from a credit union. Credit unions often have lower interest rates and fewer minimum loan requirements than banks. And because of the relationship they have with their members, credit unions might be more willing to work with you if you have less-than-stellar credit.” That’s true about YOUR credit union -- WKFCU! We Refinance Too!

4 Benefits of a car loan from a credit union:

1. Low Interest rates
   Credit Unions are not-for-profit organizations that reinvest profits into their members. Auto loan rates at credit unions can be as much as 1% to 2% lower than the average rates offered by banks.
2. Potential For Better Approval Odds
   One of the perks of credit union membership is that credit unions may be more willing to work with members with less than perfect credit.
3. Lower Loan Minimums
   Credit unions may also offer lower minimum-loan amounts than banks. If you’re not buying an expensive car, or you have a large down payment and only need to finance a small portion of your purchase, a low loan minimum could be useful.
4. Lower Fees
   When you become a credit union member, you can enjoy a variety of benefits beyond your auto loan. You can typically receive reduced fees and higher interest rates on deposit products, too.

Contact Willis-Knighton Federal Credit Union. 318-621-0605 or 318-629-5622.

Finance With Someone You Trust -- We’ve Got Your Back!