[6]
The Savings Story section of our website was inspired by this PCU Member Connect post [7] 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 [8] and GAP protection [9]
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!
