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    Learn More About Consumer Loan Products

    Last updated 2 years ago

    Consumer loan products are a financial service that almost everyone will need at some point in their lives. That’s why it’s important to do your homework on these products so that you can make well-informed decisions when the time comes to get one for yourself. Follow these links to learn more:

    For more information on consumer loan products, call Jeanne D’Arc Credit Union of Lowell at (978) 452-5001.

    Tips for Obtaining a Student Loan

    Last updated 2 years ago

    Student loans are a great investment for any prospective college graduate. However, the sheer size of these loans mandates careful consideration, to ensure that you are getting the best product possible.

    This video discusses some tips to researching and securing student loans. Tips include looking into both government and private loans, checking requirements, and considering credit unions as lenders. Watch the video to learn more.

    The student loans offered by Jeanne D’Arc Credit Union boast reasonable terms and conditions, specially tailored to ensure flexibility and affordability. Find out more about our loans by calling (978) 452-5001 today.

    Don't Be Just a Customer! Become a Member by Joining a Credit Union

    Last updated 2 years ago

    Every year, more and more people withdraw from large financial institutions in favor of local credit unions. This is not just happening by chance; there are countless advantages to working with credit unions over banks, including:

    Fewer Fees

    Ever since the recession, during which financial institutions lost billions of dollars as a result of reckless trading, banks have been struggling to find new sources of income. Their favorite solution to this is imposing unjustified fees on their customers, such as on debit card uses, savings accounts, and retirement funds. Credit unions are far more concerned about their members than the bottom line, often making them much more reasonable to work with than a profit driven bank.

    More Customer Appreciation

    If profits for a given quarter are looking meager, most banks will gladly slash their customer-service training budgets as “necessary downsizing” rather than face the wrath of their shareholders. In addition, large banks are often spread over such large areas that maintaining quality customer service at every branch can be impossible. At smaller, tightly-knit credit unions, customer service is the same for everyone: friendly, appreciative, and effective.

    Higher Interest

    Again, profit reigns supreme at big banks; members are the main concern at credit unions. Members at the latter are commonly treated to higher interest rates on their savings than customers at banks. This is rooted in the size of the institution as well as the value placed on the customer. A smaller-sized business means that there is less overhead and more money to go around. This surplus is usually passed on to delighted members.

    If you live in the Lowell area, Jeanne D’Arc Credit Union has been helping people just like you with their banking needs since 1912. No large financial institution can compete with our customer-centered products, services, and benefits. To get started switching your accounts over to us today, call us at (978) 452-5001 or visit our website.

    Comparing Credit Unions and Banks [INFOGRAPHIC]

    Last updated 2 years ago

    Though it may seem as if credit unions and banks are basically the same, they’re actually quite different. Banks are focused on earning profits for their shareholders, and they do so by investing their customers’ deposits and charging high fees. Credit unions, on the other hand, are owned by their members. When you deposit money into your credit union account, you’re actually buying shares of that institution. The credit union pays you back by giving you higher interest rates on savings accounts and CDs, and lower interest rates on credit cards, mortgages, and other loans. Members of credit unions have far fewer fees, and the fees they do have are negligible. Many members of credit unions also appreciate the personalized service they receive. If you know anyone else who could benefit from great interest rates and better customer service, please feel free to pass along this infographic.

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    What to Look for When Searching for a Student Loan

    Last updated 2 years ago

    Student loans go a long way in making college affordable for everyone. However, the vast amount of debt that these loans can give students calls for extra caution when shopping for the best ones. Here are some considerations that should go into making your decision:

    Honest Terms and Conditions

    Some lenders use student loans as a means of saddling the borrowers with debt and pulling major profits out of hidden conditions, fees, and penalties. It’s important to read the fine print before you even think about signing the contract, to ensure that the lender will not spring any surprise fees on you at a later date. One of the most important conditions to ask the lender about is the default penalty, in case you have a hard time finding work immediately after graduation and cannot afford to make the payments.

    Competitive Rates

    Student lending is a widely utilized service in the United States, and because of that, many lenders will gladly negotiate certain details with you, including, terms, conditions, and interest rates. Rather than negotiating immediately, it helps to gather information from a few different places first, and then negotiate using the best loan conditions you found. This gives both you and the lender a place to start the negotiations.

    Reliable Reputation

    Although there are some online lenders that will grant you a loan with the click of a mouse and no questions asked, you should only ever trust a reputable source. A reputable source has not only given out loans in the past, but has fair terms and conditions, and comes highly recommended. Investing the extra time in finding such a lender can save you major headaches after graduation.

    The student loans offered by Jeanne D’Arc Credit Union of Lowell satisfy all of the above criteria and more. We are proud of our commitment to helping students afford college with reasonable interest rates, negotiable terms, and no prepayment fees. Call (978) 452-5001 today to speak with a loan representative.

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