Credit Union Loans in New Bedford: Buy a New or Used Vehicle

Credit Union Auto Loans in New BedfordThere are many reasons to want to join a credit union in New Bedford. One of which is the opportunity to save money and get a great deal on a credit union auto loan. Whether you want to buy a brand new or used vehicle, credit union loans can often save you in interest and fees compared to traditional bank loans. As a member of a credit union, things are different from being a customer of a bank. Members get great benefits, including lower interest rates, reduced or waived fees, as well as other options and opportunities beyond a basic banking menu. St Anne Credit Union can provide you with New Bedford credit savings and innovative ways to grow your money. All of our members either live or work in Bristol and Plymouth counties in Southeastern Massachusetts.

What are the Requirements?
The first thing you want to ask when you visit your local credit union in New Bedford is about the requirements for the credit union auto loan. If you are not a member, you should consider joining, as this is often the first requirement for taking out a loan. The savings that are passed down through credit union loans go directly to members. As a not-for-profit organization, credit unions cannot keep any of the profits for the organization itself, but must pass them down to members, either in reduced fees, lower interest rates for loans or increased interest on savings.

The amount and type of New Bedford credit savings that you receive will depend on a number of factors. Your best bet is to stop by St Anne Credit Union in New Bedford to speak with a representative about your options and the opportunities available at your local credit union. While some rates are posted on our website for online banking, it is always a good idea to call or visit in-person to get the most accurate information. Make sure that you meet the criteria for joining the credit union in order to secure your auto loan opportunity.

The requirements for joining a credit union are different depending on the organization you are seeking to join. For example, some credit unions in New Bedford base membership on the type of work that you do, the company that you work for, if you are employed by the government or belong to a specific group or organization. Some areas even have memberships available only to members of certain ethnic groups. However, St Anne Credit Union in New Bedford simply requires its members to either work or reside in two Southeastern Massachusetts counties: Plymouth or Bristol.

What are the Similarities?
The loan process that you will go through to get credit union loans are very similar to traditional bank loans. An application is submitted and members are vetted for credit worthiness. The job of the credit union is to protect the investments and financial resource of the membership, so they are very careful not to offer a credit union auto loan to someone who might be a big risk. Once credit worthiness has been determined, you may find that your new loan features better New Bedford credit savings than may be available to you at other institutions. Credit checks for scores and histories, as well as a positive debt-to-income ratio, are all used to qualify a loan.

The ability to make payments through your credit union in New Bedford just as you would a local bank loan is another perk. Oftentimes, when consumers go through the banking loan process at the car dealer, they end up with a lender that is hundreds, if not thousands, of miles away. Taking control of your own finances by working with a trusted, reputable credit union in New Bedford can be a huge advantage. You can make payments for credit union auto loans in-person, via your credit union savings and checking accounts, or even make payments online. Speak with a representative for more details about loan payment options.

The St Anne Credit Union Difference
When you are shopping around for car loans and other types of credit union loans, make sure to stop by St Anne Credit Union in New Bedford to see what opportunities and programs are available. Whether you need a basic Share Savings and Checking account, want to explore options for credit union auto loans and home loans, or are looking for ways to grow your money through certificates of deposit and money market accounts, our team can help you find the very best solutions that will work with you and your budget. Give us a call at 508-993-0011 to learn more about our New Bedford credit savings programs or to become a member!