If you are looking for a competitive loan with excellent interest rates in New Bedford, consider opening up an account at your local credit union. Studies reveal that loans from credit unions provide some of the best options available in the United States. While it is always important to shop around, make sure you don’t overlook the benefits that could be right in front of you at St Anne Credit Union. Whether you need a credit union auto loan or want to learn about obtaining a credit union home loan, our agents can help you get the very best deal. It all starts when you open a New Bedford Share Savings account.
How to Become a Member
While some credit unions require you to be a member of an association or work in a particular field to gain membership, St Anne Credit Union in New Bedford does not. The only requirements for membership is that you need to either work or live in Bristol and Plymouth counties. As the oldest credit union in Southeastern Massachusetts, St Anne Credit Union is proud to be a member-owned, non-profit financial institution in operation since August 3, 1911. We currently serve over 3,100 members and have over $18,000,000 in assets.
Membership starts with a New Bedford Share Savings account. Our regular Main Share is just $25.00 to open and establish your membership within the credit union. Before you can open any other type of savings account, such as our popular Christmas Club savings, you must open a Main Share account. Before you can obtain a credit union home loan or auto loan, you must open a Main Share account. This is the minimum requirement for membership at St Anne Credit Union in New Bedford, MA. Interest is paid and compounded monthly and paid from day-of-deposit to day-of-withdrawal on all of our New Bedford Share Savings plans.
Types of Loans at St Anne Credit Union
So when it comes time to begin shopping around for loans, make sure to check with a representative at your local credit union. We offer a wide range of loan types, including a credit union auto loan, home loan, personal loan, motorcycle loan, Share loan, equity loan, and an equity line of credit. You can view all of the detailed information on requirements for new loans, balance requirements for membership, proof of income, and more on our website. Our credit union auto loan opportunities are available for both new and used vehicles, depending on your needs and the model year of the vehicle.
Loan interest rates vary and change regularly according to federal regulations. St Anne Credit Union works to be as upfront and transparent as we can with our members. Our website features an Interest Rates section that lists the current Annual Percentage Rate (APR) rates and estimated payment per thousand dollars of loan. For example, at the time of this writing, a new credit union auto loan financed at 100 percent featured rates as low as 2.75 percent APR for a five-year term on approved credit. According to our chart, that would be an estimated payment of approximately $18.68 per thousand dollars of financing, which would make a $25,000 new vehicle run about $467/month in payments.
Why Choose a Credit Union for a Loan?
When it comes to picking the best options for a credit union home loan or auto loan, you can beat the low interest rates in New Bedford for credit union members. In fact, credit union rates and fees are frequently lower than banks and other lending institutions across the country. This translates to a lower overall cost of borrowing. As a member, approval can also be somewhat more relaxed than at a bank or lender where you are not known. Credit unions have earned a reputation for taking a more personal approach to loan evaluations compared to traditional banks.
Loan applications and calculators are available on our website as well to help make the process of applying for a credit union auto loan or home loan even more accessible. St Anne Credit Union in New Bedford also has a lot of other great tools on our website. Web-based banking has never been easier! Members get 24/7 access to all of their accounts, free electronic statements for eligible checking and savings accounts, plus an online SUM ATM finder to help you locate surcharge-free ATMs in the South Coast area and nationwide! There’s also a FREE mobile app available for iPhone® and Android™ so you can identify SUM ATMs wherever you are.
Visit St Anne Credit Union in New Bedford
If you are interested in learning more about how to open a New Bedford Share Savings account at St Anne Credit Union or if you would like to speak with an agent about getting a credit union auto loan, just stop by our location on Union Street in New Bedford. You can also call one of our friendly customer service agents by dialing 508-993-0011. We can answer any questions you might have about a credit union home loan or savings opportunities and can tell you how to get the best interest rates in New Bedford right here at St Anne Credit Union.