Loyalty Loan Program

At allU.S. Credit Union we’re dedicated to providing the tools, resources and expertise that will empower your financial success.   Don’t think you’re the only one who may have less than perfect credit.  You’re not alone.  That shouldn’t mean you couldn’t qualify to buy a vehicle, consolidate debt or get a personal loan.  That’s why we’ve developed our Loyalty Loan Program for those individuals who have blemished credit scores and are having a difficult time qualifying for a loan.

These loans will help with immediate needs and also help rebuild your credit.  These loans will reward the members with on-time payments with a lower interest rate and loan payment over the life of the loan and give the member:

  • The ability to borrow with an unhealthy credit score
  • Flexible qualifying guidelines
  • Incentives to lower your loan interest rate and monthly payment
  • Improvement of your overall credit rating and credit score

The loyalty loan program covers the following types of loans:

  • Auto
  • RV
  • Boat
  • Motorcycle
  • Signature Loans

Here’s How It Works:

  • Set up on automatic loan payment through allU.S.
  • Must pay on time for the first 12 months of the loan and interest rate will be adjusted on the 13-month. 2nd year payment is paid on time rate will be adjusted on the 25th month.
  • At any time payment is not made by the 15th day after due date rate can be changed on the 16th day to original loan rate. 

If you don’t qualify at first with a low interest rate, our loyalty loan program can help you reduce that rate overtime. 

  • You have the potential to receive interest rate reduction for the first 2 years of your loan up to 2% each year with an automatic loan payment through allU.S.*
  • Reduce the amount of interest charged
  • Help you pay the principal loan balance faster
  • Save you money over the life of the loan.
  • Your monthly payment amount will not change due to the Loyalty loan interest rate reduction.
  • Improve credit score and generate repeat business and word of mouth

While “thank you” has a nice ring to it, words just don’t carry the same weight as actions. Our way of giving back to our members for their loyalty is to make sure they continue to receive more value from their membership investment—with our Loyalty Loan Program

Contact our Loan Department by calling 831-540-4627 or apply online.

*The actual individually implemented amount of the intent rate reduction is at the sole discretion of the Credit Union

Home Equity Loan vs. Home Equity Line of Credit – What’s the difference?

With the equity you’ve built up in your home over the years, you could be sitting on a lot of money! When you’re ready to put your home’s equity to work, you may be wondering which option is best for you – a home equity loan or a home equity line of credit (HELOC).

One of the most common misconceptions is that home equity loans and HELOCs can only be used for home improvements. These loans can be used for a variety of needs, including consolidating high-interest debt, financing a college education, buying a new car or taking a dream vacation.

Choosing the loan option that’s right for you starts with an understanding of equity. Equity is the difference between the value of your home and the remaining unpaid principal balance of your mortgage. For example, a home worth $250,000 with a principal balance of $100,000 remaining has $150,000 in equity.

So what’s the difference between a home equity loan and a HELOC? A home equity loan is a one-time loan for a fixed dollar amount, at a fixed interest rate, with a fixed term of repayment. This type of loan has a pre-determined monthly repayment amount and an amortization schedule for up to 15 years. Home equity loans are great for specific, one-time purchases like a new car or a home remodeling project.

A home equity line of credit – also called a HELOC – is a variable-rate loan that can be drawn down, either all at once or at different times. You can borrow up to the credit line maximum, but you’ll only pay interest on the funds you use. For example, if you’re approved for a $50,000 equity line but only borrow $15,000 right now, you are only charged interest on the $15,000. Once you have repaid the amount borrowed, your credit line is fully renewed and available for borrowing again.  Most HELOCs feature a 10-year draw period followed by a 15-year repayment period. HELOCs are a smart way to pay for recurring expenses like college tuition.

An allU.S. Credit Union loan specialist can help you determine whether a home equity loan or line of credit is the best option for you. For more information about home equity loans and lines of credit, visit https://alluscu.com/home/loans/ or stop by today and speak to Robin, Stephanie or Celeste.

Why Should I Refinance My Vehicle at allU.S. Credit Union?

Are you drowning in high payments with a high-interest rate car loan that you simply can’t afford?  Were you one of those car shoppers that smelled the new interior, gawked at all the gadgets, took a test drive and just wanted to hit the road in your new car no matter what the cost or the finance rate?  Like many others in your shoes, after the initial excitement wore off you realized the interest rate was higher than you expected, and now it’s squeezing your budget.  

You might want to think about refinancing your vehicle.  Refinancing could save you money if you qualify for a better rate.  And, at allU.S. credit union you may benefit from more flexible repayment terms and certainly more personalized customer service.

How Does Refinancing Work?

The process is similar to refinancing your home – only much simpler.  Just like a home refinance, you’re using a loan from another lender to pay off an existing loan, and doing so at a much more affordable interest rate.  The point of refinancing is to get a better deal.  A lower interest rate could result in hundreds of dollars in savings while a longer term may make paying off the debt easier on your budget.

When Does Refinancing Your Vehicle Make Sense?

  • If you didn’t get the best interest rate available the first time. perhaps you were in a big rush to buy your vehicle and you didn’t shop around first for the best rates with local lenders.  Credit Unions, like allU.S. in particular, are known for offering favorable interest rates on auto loans to their members.
  • An auto refinance can be useful for those people who are saddled with high interest rate loans due to a poor credit score, lack of a credit history, or unemployment.  As long as you haven’t missed any payments, it’s worth seeing if you can grab a more attractive rate this time around.
  • If your financial situation has changed since you initially got your loan it may make sense to refinance your car.  If your credit score has improved, even by just 50 points, that improvement can earn you a lower interest rate.
  • Maybe you have discovered a mistake on your credit report that cost you a better rate.  If that mistake has been corrected it may be a good time to refinance your vehicle.  You can check for credit report errors on AnnualCreditReport.
  • If you have only one or two years left on your car loan, it might not make sense to refinance into a new loan with a longer term.  But if your objective is to reduce your monthly payments, a refinance may be the way to go.

Why Refinance Through A Credit Union?

Because credit unions are not-for-profit they work exclusively for their member’s benefit and often offer unique loan programs that might not be available from a traditional bank.

Lower Interest Rates:  At allU.S. credit union earnings are passed back to their members in the form of lower rates and fees.  According to the National Credit Union Administration the average car loan from a credit union was 2.61% lower than the average bank. 

Flexible repayment terms:  allU.S. credit union offers financing up to 100% of the vehicle’s value and provide numerous repayment options.           

Loan Protection Products:  You can usually buy GAP coverage from the auto dealer.   If you purchase that insurance from allU.S. you can usually save hundreds of dollars for this useful protection.

Skip-A-Pay:  allU.S. allow their members to skip a loan payment now and then if they are facing a financial crisis.  You can forget about asking a car dealer for that type of special treatment.

What’s better than a lower rate and a lower monthly car payment?

Because the auto refinancing application only takes a few minutes to complete and the entire process isn’t burdensome, you have little to lose by trying to get a better deal.  So, if you love your vehicle but not your loan it might make sense to refinance your loan with allU.S. Credit Union! 

Save Money with a Fuel-Efficient Car

Improved fuel economy saves you cash every time you fill your tank!

Fuel efficiency is an enormous financial consideration when buying a car.  In fact, buying a car that is 10 miles per gallon more efficient in terms of fuel consumption than another option you may be interested in can save you as much as $10,000 over the time you own the car.

When shopping for your next car, one of your very first questions should be, “What kind of fuel economy does it get?” Gas prices are so unpredictable that it is essential that you prepare yourself for escalating prices by making fuel economy your number one priority – so you can make driving a not-so-guilty pleasure again!

Selecting a fuel-efficient car
A good place to start is online at http://www.fueleconomy.gov where you can review the mileage and emissions ratings of all the vehicles currently for sale.

  • Here’s an example from www.fueleconomy.gov: A vehicle that gets 30 MPG will cost you $610 less to fuel each year than one that gets 20 MPG (assuming 15,000 miles of driving annually and a fuel cost of $2.44). Over a period of five years, the 30-MPG vehicle will save you $3,050. Now that’s a good chunk of change!
  • There are also fuel cost and savings calculators that can be used to help you make an informed decision when buying your new fuel-efficient vehicle.  You can try it here file://localhost/(https/::www.fueleconomy.gov:feg:savemoney.shtml).

Another good site is http://www.edmunds.com, which also carries the EPA mileage figures on the “Specs” page of each auto.

If you’re tired of emptying your wallet every time you fill up below is a list of cars that are rated the most fuel-efficient by Consumer Reports.  These gas sippers listed below are also easy on the wallet.

  • Ford Fiesta SFE
  • Mitsubishi i-MIEV
  • Ford Focus Electric
  • Nissan Leaf
  • Chevrolet Volt
  • Chevrolet Cruze Eco
  • Toyota Prius
  • Honda Civic HF
  • Hyundai Accent
  • Hyundai Veloster
  • Mazda 3

Driving a fuel-efficient vehicle not only will save you money on gas, but such a decision has other, broader benefits, too. It reduces oil dependence costs, reduces climate change and increases energy sustainability. Clearly, it’s a decision you can feel good about!

If you are ready to purchase that new fuel-efficient car, your local credit union offers affordable and competitive financing options on both new and used automobiles.  Some credit unions will even give a discount for fuel-efficient cars, for vehicles with a 40-highway mpg rating or higher.  So you will save on interest while you’re saving on gas.

allU.S. Credit Union is committed to stewardship and care of the environment. In the changing technology of our world, hybrid and fuel-efficient cars offer a chance to practice these values. Visit the branch today or apply online for an auto loan that fits your budget.  

Should I Buy or Lease?

If your clunker of a car is gasping its final breath, you are probably in the midst of deciding whether to lease or purchase a car.

To lease or to buy? It’s one of the age-old questions car buyers ask themselves. Unfortunately, there’s no one-size-fits-all answer. The option that’s right for you depends on a number of factors, including your financial situation, lifestyle and your future plans for the vehicle.

Before choosing the option that’s best for you, it is important to understand the difference between leasing and buying. When you lease, you basically “rent” the vehicle for a predetermined period of time. Leasing allows you to drive a brand new vehicle with lower monthly payments. Typically, lease agreements stipulate a mileage maximum for the lease period. Any additional mileage you put on the vehicle is an extra cost. At the end of your lease, you have the option to return the vehicle or purchase it. Leasing might be right for you if you:

  • Like driving a new car every couple years
  • Want a low monthly payment
  • Find new safety features and options very important
  • Always want a car under warranty so you won’t face major repair bills
  • Don’t care about ownership
  • Drive a limited number of miles
  • Have no depreciation concerns
  • Own a business and use the vehicle only for business purposes, you can claim it as a tax deduction.

An auto analyst resource at Edmunds points out that the decision between leasing and buying a car isn’t actually the difference in finances.  It’s a lifestyle choice.  People who like to drive a new car every few years find a lease much more appealing and they are usually able to drive nicer cars than they could afford to purchase.

When you buy a vehicle, you typically make a down payment, pay sales tax and finance the purchase price at an interest rate predetermined by your financial institution or Loan Company. Over the term of your loan you’ll pay the full cost of the vehicle, and once your loan term is up you own the vehicle and you’re free to sell it at any time. Buying a vehicle might be a good idea if you:

  • Can afford higher monthly payments
  • Like the idea of ownership
  • Don’t want to risk lease-end costs
  • Plan on driving the same vehicle for many years
  • Don’t mind covering repairs after the warranty expires
  • Are a high-mileage driver
  • Want to have a trade-in when getting their next car
  • Want to modify and/or accessorize your car

The bottom line on buying is the car you buy is yours, to sell, modify, or drive for 20 years if you like.  Granted, it won’t be worth as much as you paid for it when you finally put it to rest, but overall, buying usually costs less than leasing and provides you with much more flexibility.

Ultimately, the decision on whether to buy or lease will depend upon your specific circumstances, but being informed and weighing your options should help you find the best value for the vehicle you want.

Before making a decision to buy or lease, contact your local credit union! Their auto loan specialists can help you determine how much you can afford to spend and which option is best for you.

allU.S. Credit Union can help you decide if leasing or purchasing your next car makes the most sense for you.  If you feel that purchasing is your best bet, visit us and we can pre-approve you for the car you can afford that fits your lifestyle and budget.  Whichever you decide we can make purchasing your next car a fun and stress-free experience!  allU.S. Credit Union, Positively Different!

First Time Car-Buying Tips

Buying your first car is an exciting step – but it can also be overwhelming and stressful and is never filled with as much uncertainty as it is the first time.  If you take the time to do a little research before visiting the dealerships, your first car-buying experience can be a lot less stressful and a lot more fun!  Being a good first-time buyer won’t be easy, but if it’s worth doing – and it is – it’s worth doing well.  We’ve come up with some tips to help with the process.

Establish a realistic budget.  This figure is generally based on what you can afford per month.  Look at your cost of living – mortgage or rent payments, food, insurance, social activities.  Once those are calculated, the remainder could be spent on a car payment, fuel, car insurance and maintenance.

Visit allU.S. credit union to get pre-approved for financing. Before you fall in love with a car you may not be able to afford, stop by allU.S. Our member representatives can get you pre-approved for financing at a great rate that fits your lifestyle and budget. You’ll also know exactly how much you can spend, which will give you added negotiating power at the dealership.

Do your research. Informed shoppers are smart shoppers, so gather some information before you start shopping. Resources like Consumer Reports (www.consumerreports.org), Edmunds (www.edmunds.com) and Kelley Blue Book (www.kbb.com) offer helpful vehicle reviews and pricing information that can help you determine a fair price for the car you want.

Take a test drive.  Nothing is more important in your decision process than how you feel behind the wheel.  Take at least half an hour on your test drive, while trying stop-and-go, freeway merging and freeway speeds.  If the sales person does not have time then take the time to find another dealership.

Bring a wingman or woman to the dealership.  It’s always best to work with a partner.  They can help you decide what car to buy and what to pay. 

Negotiate your price. Price negotiation is probably the most overwhelming part of the car-buying process, but it is important for you to stick to your strategy. If you’ve done your research, you’ll have a good idea whether the dealer’s offer is fair. Keep in mind that the dealer’s first price is rarely their best price, so don’t be afraid to reject the initial offer. If the dealer can’t meet your target price, walk away. Buying a car is a big step and the transaction has to be right for you.

Low Dealer Rates Promo image

Buyer beware. Before signing the final contract, ask the dealer to explain each item. Dealers have been known to include extra charges for items like “fabric protection,” “paint sealant” or “rust proofing” that may not be necessary. If there are charges you’re not comfortable with, don’t be afraid to point them out.

First-time buyers should also be wary of financing deals that sound too good to be true. Offers like “0% dealer financing” may sound good, but as a first-time buyer you may not qualify for these attractive specials.

Most importantly, enjoy the process.  We know the tips referenced above can make buying a car seem daunting, but with low financing rates, and hundred of cars and trucks to choose from, your options are amazing (especially in the first-time buyer category).  So take your time as you move through the process and you’ll be astounded with the outcome.

With a little advanced planning, a solid negotiating strategy and appropriate financing, buying your first car can be a fun and a stress-free experience!

Do you need some help finding the right car?  Check out these links for The Coolest Cars under $18,000Best Back-to-School Cars and the Best SUVs under $25,000.

allU.S. Credit Union can make the car buying experience easier.  Visit us and we can pre-approve you for the car you can afford that fits your lifestyle and budget.  With our help buying your first car can be a fun and stress-free experience!  allU.S. Credit Union, Positively Different!

Should You Consolidate your Debt Into One Low Payment?

Keeping up with numerous debts from a variety of sources can leave you feeling like you are spinning out of control?   Fortunately, allU.S. Credit Union has several solutions that can steer you in the right direction and save you money and stress!

Should you consolidate your debt?  This calculator is designed to help determine if debt consolidation is right for you.  Fill in your loan amounts, credit card balances and other outstanding debt.  You can then see what your monthly payment would be with a consolidated loan.

At allU.S. Credit Union, we offer many options to help you pay off your credit cards, improve your credit rating and live debt free!  Check it out:

Pay off existing debts with an Auto Title Loan featuring rates as low as 2.49% APR.  You have the ability to borrow up to 50% of your car’s value to help drive down your debt!

Transfer high-rate credit cards to the allU.S. Visa Credit Card and save BIG with:

  • Rates as low as 8.99% APR
  • No annual fee
  • No cash advance or transaction fees
  • No balance transfer fees

Check out even more advantages at https://alluscu.com/home/loans/.

You can kiss your high-rate debt goodbye by consolidating your debt with an allU.S. Personal Loan.

  • Rates as low as 7.0% APR
  • Loan amounts up to $25,000
  • No collateral required

Debt consolidation at allU.S. Credit Union is a smart and easy way to combine all your high-interest debt into one low payment. You’ll lower your interest rate (which could save you money every month) and more of your payment will go toward the principal balance, meaning you’ll pay off your debt more quickly! And best of all you’ll make just one easy payment each month!

Don’t wait! Consolidate your debt and save with allU.S. Credit Union. Need help determining if debt consolidation is a good option for you?  Just stop by or call Robin or Stephanie at 831-540-4627 and they will be happy to help.  You can also apply online at https://www.flexteller.net/ActionMultiplexer?Action=ACT0142&CUID=mon

Go Green – It’s a no-brainer investment!

You’ve probably spent plenty of time thinking about how to invest your money, but how often have you considered investing in the environment? Global warming is a pressing issue, especially in the U.S. Although our country makes up only 4.5% of the world population, we account for over 20% of the planet’s carbon emissions! The good new is every individual has the power to drastically reduce their carbon footprint. By making small lifestyle changes today, we ultimately invest in a greener tomorrow. So treat the earth like the asset it is, and start taking action!

At home:

  • Install a programmable thermostat so that the temperature automatically lowers at night while you are away.
  • Replace outdated appliances with energy-efficient models; look for appliances with an Energy Star label.
  • Use the microwave instead of the oven or stove – it uses much less energy.
  • Use cold water when washing your laundry. And while you’re at, let your clothes air-dry.
  • Cut down on paper mail by signing up for e-statements.
  • Ditch the paper and plastic and shop with reusable cloth bags instead.
  • Change the air filters in your heating and cooling systems regularly.

With your car:

  • Carpool, rideshare or utilize public transportation.
  • Bike or walk to nearby places.
  • Invest in a hybrid vehicle and use 75% less gas than a traditional vehicle.
  • Accelerate and drive slower to reduce fuel consumption and cost.
  • Keep your vehicle well serviced to maintain an efficient engine.

At work:

  • Recycle ink cartridges, computers and other office appliances.
  • Print documents double-sided and recycle all paper waste.
  • Bring a bag lunch and store your food in reusable containers.
  • Turn off and unplug your computer every day.

Whether it’s building green, driving green or saving green, allU.S. Credit Union is here to help.  Our Green Loan promotion is for anyone seeking to purchase appliances that are energy efficient, or who want to make moderately priced energy efficient improvements to their home (i.e., energy-efficient air conditioners, furnace, water heaters and appliances; home weatherization and insulation; energy-efficient windows and doors; energy-efficient roofing; or incandescent light fixture replacement).

  • Rates starting as low as 3%Go Green Loans promotional image
  • Maximum loan amount $25,000
  • Terms up to 48 months*

If you are looking to install a solar system for your home we can help you with that as well.

  • Rates starting as low as 3%
  • Maximum loan amount $50,000
  • Terms up to 48 months*

If a single person can make a difference, think of the impact we all can make! Tell your family and friends about all the ways they can invest in a different kind of green at allU.S., Credit Union.  Apply today at https://www.alluscu.com/loans.cfm

*Credit Score 740 And Up: Max Loan Amount $25,000.00 Max Term 48 Mos. At A Rate Of 3.00%. Credit Score 680-739 Max Loan Amount $25,000.00 Max Term 48 Mos At A Rate Of 4.50%. Credit Score 630-679 Max Loan Amount $25.000.00 Max Term 48 Mos At A Rate Of 6.00%. Green Auto Loans And Solar Loan Rates Are Based Off Credit Union Current Rate Sheets. Offer Good Through September 30, 2014.