The Original Savings Story
The Savings Story section of our website was inspired by this PCU Member Connect post published May 23, 2008.
A Savings Story... This is what credit unions are all about.
Yesterday while visiting one of our member companies, I met a very nice woman who had purchased a car just a few days ago. Her supervisor had wisely suggested that she check on a loan at the credit union instead of keeping the loan from the dealership. So she came to speak with me. When I calculated that her current interest rate was 21% I thought I had made a mistake, but she confirmed that I was correct. I thought perhaps she had a very rocky credit history but that was not the case. It wasn’t perfect, but it certainly wasn’t poor either. Fortunately the dealer had not processed the paperwork and she had a few hours to get a loan through our credit union.
So we made her a new loan which saved her loads of money! Below you’ll see just how much she saved…
Over $4,000 Dollars!!!! She chose to use some of that savings to buy our 48 month mechanical breakdown protection and GAP protection
for her loan. Her total cost of the loan even with those add-ons was still $2,000 less than the dealer loan! As you can see, here’s yet another happy credit union member. And that’s who it’s all about!