There comes a time in everyone’s lives when they need a loan to make a big purchase. If you are a member of St Anne Credit Union in New Bedford, then you have the opportunity to take advantage of credit union loans. Whether you need a credit union home loan, a home equity line of credit, a personal loan, or a credit union home loan, we offer a wide variety of options that you can apply for and take advantage of depending on your situation. There are many benefits associated with being a member of a credit union, and having access to credit union loans is one of the most popular.
Top Reasons Why Credit Unions Rock
If you have ever worked with a traditional banking institution before, you know how it works. They say that they work for you, but the attitude, approach, and customer service says otherwise. When you join a credit union, you are a member, not a customer; a stakeholder, not an account number. Banks are for-profit, while credit unions are not-for-profit, meaning that the whole goal is not to make money for the big guys in suits but to pass on any profit to the membership through low rates and low fees. In addition to credit union loans, you can also get credit card offers through your local St Anne Credit Union in New Bedford, often at lower APRs than you will find at major banks, along with incentives based on performance.
You can also grow your money through the use of money market accounts and certificates of deposits (CDs) at your local credit union. St Anne Credit Union in New Bedford serves members that live or work in either Bristol or Plymouth county right here in Southeastern Massachusetts. While our branch is located on Union Street in New Bedford, our members have access to ATMs at locations all throughout the South Coast and all across the country. When you come in to speak with one of our customer service agents about becoming a member, make sure to ask about all of the discounted options for banking fees, increased interest opportunities for savings, and great rates on credit union loans.
Credit Union Auto Loans
Our members can apply for credit union auto loans, either for new or used vehicles. Our terms range between two and six years for new vehicles or two to five years for used vehicles, depending on your financial needs. For new and used auto loans, we don’t require a down payment. Members who have a Main Share Account with a $25 minimum balance can apply for one of our credit union auto loans. We also offer motorcycle loans and refinancing opportunities. Speak with one of our agents to get details on the registration, contract, and other paperwork required to process your loan application for new vehicles, used vehicles, motorcycles, and refinancing options.
Personal and Share Loans
Another type of lending opportunity is known as a “personal” loan. This type of credit union loan can be anywhere between $500 and $10,000 for terms between one to four years, depending on your needs. Loans over $6,000 require two signatures and St Anne Credit Union in New Bedford offers special loan opportunities to our members throughout the year. Share loans are similar, but they are secured by the member’s Main Share account. Up to 100 percent of the balance in the account can be borrowed for three percent over the current share rate. Interest is still earned on the savings, and the max term is 48 months. In addition, loans that are secured by certificates of deposit (CD) accounts are also available at three percent over the rate that you are receiving on your CD.
Credit Union Home Loans
Fixed rate mortgages are available to members, ranging from five to 30 years, depending on your needs. As rates change regularly, your best bet is to contact our branch location and speak with a representative about current information for mortgage plans. In addition to fixed rate mortgages for a credit union home loan, members can also apply for equity loans, including a home equity line of credit (HELOC) for up to $125,000. We can provide these loans at up to 75 percent of the value of your home, less your first mortgage. Again, costs for closing fees, applications, requirements, and terms will vary, so it is best to contact our branch office to speak with a friendly representative about credit union loans, including a home equity line of credit, at St Anne Credit Union in New Bedford.
Call or Visit for More Information
If you are interested in learning more about credit union loans, such as a credit union auto loan or personal loan, make sure to give us a call at 508-993-0011. You can also stop by St Anne Credit Union in New Bedford during our office hours at our branch location on Union Street in New Bedford, Massachusetts. Our team of helpful customer service agents will be happy to help answer any questions that you might have about credit union home loans, home equity line of credit loans, and share loans at our local credit union.
Not a member? Contact us today to find out what you need to do to join!