Last updated 3 months ago
Credit unions are owned by their members. This means that you can enjoy lower rates on your loans. Find out more about how becoming a member of a credit union can help you by talking to a representative of Jeanne D’Arc Credit Union in Lowell. Reach us at (978) 452-5001 or visit our website to learn more about our personal loans, student loans, and mortgages. In the meantime, browse through the following links to read about credit unions.
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If you’re shopping for a student loan, consider a credit union. This article by Forbes discusses the growing trend in using credit unions to finance higher education.
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Many people switch to a credit union because of the high fees at banks. Learn more with this article by MSN Money.
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Do you have GAP insurance for your vehicle? Find out what it is and why you need it at HowStuffWorks.
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There are many options for paying for college. Get more information on resources with this article by Smart Money.
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Learn why fewer banks are offering student loan options, and why more credit unions are, with this article by The Wall Street Journal.
Last updated 3 months ago
Paying for college is becoming increasingly difficult, with tuition rising and private student loans becoming more difficult to obtain. But there are still options out there. In addition to taking advantage of federal student aid programs and scholarships, you should contact your credit union and ask about student loans. Banks may be more likely to deny a student loan application, whereas a credit union tends to be more accessible.
Lower Interest Rates
One of the biggest differences between a bank and a credit union is that the latter is structured to serve the needs of its members first and foremost. These establishments are owned by their members, and the members see the benefits of the institution’s profits. The end result is that you can enjoy much lower interest rates than you would likely get at a bank. Credit unions also tend to have negligible service fees.
Flexible Repayment Options
When it’s time to repay your student loan, you will more than likely enjoy more flexible repayment options, as compared to a bank. You might choose to defer your payments until after you graduate, or to make low interest payments while you’re in school. You might also choose to have lower monthly payments initially, while you’re climbing the corporate ladder, with higher payments later when they are more manageable. Your credit union might even offer you a discount if you sign up for automatic electronic payments.
Easy Applications
The process of getting a student loan from a bank can take quite a bit of paperwork, and you may not receive an answer right away. Once you’re a member at the typical credit union, you should receive instant approval if you qualify. Some credit unions even offer online applications.
Jeanne D’Arc Credit Union has been providing its Lowell members with a range of financial products and services since 1912. Talk to our friendly staff about a student loan today. Contact us at (978) 452-5001 to learn more about becoming a member.
Last updated 3 months ago
When you’re ready to make that big purchase, consider taking out a loan from a credit union instead of a bank. Credit unions are generally more accessible lenders, and offer very competitive interest rates. The knowledgeable staff of Jeanne D’Arc Credit Union is devoted to helping consumers make smart choices about their finances. Talk to a staff member today about your financial goals and the type of loan that suits your needs. Here’s a look at some of the benefits of the consumer loan products available at Jeanne D’Arc Credit Union:
Types of Loans
Jeanne D’Arc Credit Union has multiple loan types available, so you’re sure to find one that suits your needs. Our institution offers auto loans for new, used, or refinanced vehicles, for up to $80,000 and up to seven-year terms. If you’re interested in purchasing a recreational vehicle or a boat, you might take out a loan for up to $100,000, with up to 15 years to pay it off. Jeanne D’Arc Credit Union also offers consumer loans for motorcycles and personal loans.
Zero Penalties and Fees
There are no application fees on any of the consumer loan products. There are also no penalties for early payment, which allows you to take greater control of your financial future. When you take out a loan with Jeanne D’Arc, you won’t be overwhelmed by penalties and fees.
Available Discounts
When you talk to a staff member about taking out a loan, ask about the available discounts. For example, if you sign up for automatic electronic payment from your account or direct deposit, you can receive a rate discount.
Insurance Options
When you take out a loan with Jeanne D’Arc Credit Union, be sure to ask about the available insurance options. For instance, you might choose GAP insurance for your car. The credit union also offers Credit Life and Credit Disability insurance.
Jeanne D’Arc Credit Union in Lowell is a not-for-profit financial institution. Ask us about our loan products by calling (978) 452-5001. You could also learn more about our rates by visiting our website.
Last updated 4 months ago
Paying for your car or home does not have to be a stressful experience. In most cases, you are not expected to have all of the money up front for these types of purchases. Auto loans and mortgages both allow you to pay over time for the car and home you need. Check out these links to learn more about these and other essential services your financial institution can provide:
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Many individuals find credit unions favorable because members are the shareholders. In this Bankrate.com article, you will learn why credit unions can provide the best auto loan rates.
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Would you rather come into a dealership with your finances in order, or would you rather choose a car from the lot and arrange a loan accordingly? Financial Web explains both processes with this breakdown of direct and assigned auto loans.
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Buying a home for the first time can be equal parts exciting and confusing. The United States Department of Housing and Urban Development (HUD) answers questions first-time homebuyers tend to ask, including those regarding mortgages.
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Are you interested in buying a house? Take a look at these home-buying tips from CNN Money.
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This article from Investopedia.com discusses the differences between fixed and adjustable-rate mortgages.
At Jeanne D’Arc Credit Union of Lowell, we can help you find the right auto loan or mortgage at a better rate than you’ll find at commercial banks. Call us at (978) 452-5001 to learn more about retirement savings, personal banking, credit cards, and other financial services.
Last updated 4 months ago
Buying a car can put a huge strain on one’s finances. That said, buying a car does not have to sap all your financial resources at once. Getting an auto loan can help you get the ride you need without sacrificing too much of your discretionary income. Your personal banking institution has lending options that can get you on the road sooner than you think. Read on to learn more about auto loans:
Auto Loan Basics
As the name suggests, an auto loan is a repayable allotment of money specifically designed for the purchase of a car. Auto loans are defined by their annual percentage rate (APR), or the interest you will pay back. Your credit history, down payment, and amount borrowed ultimately determine the APR.
Direct Auto Loan
A direct auto loan occurs when you contact an institution independently and secure financing that you can bring to a dealership. The advantage of doing this ahead of time is that you have a budget to work with when you get to the dealership. This increases your likelihood of getting the car you want, increases your bargaining power, and makes it easier to arrange your payment.
Auto Loan Assignment
If you are unable or unwilling to get a direct auto loan ahead of time, an auto dealer can help by assigning the auto loan to an outside lender. Car dealerships work with networks of financial institutions that sometimes compete to give you the best possible rate on an auto loan. This is especially helpful if you do not have the best credit, or if you come to the dealership undecided on a vehicle. While it’s more work for the dealer, it allows you to be more flexible with your purchase.
At Jeanne D’Arc Credit Union, we provide auto loans at rates that are more favorable than what you would find at a commercial bank or auto dealership. Call us at (978) 452-5001 to discuss personal banking, retirement savings, and business accounts in Lowell, MA.
