Choosing a financial institution to finance your car loan can be a difficult decision. While it’s important to find a good interest rate, it’s also very important to find a financial institution that works for you. We’re here to offer 6 reasons why you may want to consider choosing a credit union for your next auto loan.

    Lower Rates

    Credit unions offer lower rates and flexible terms when it comes to auto loans. Because credit unions are not-for-profit, any profits made are invested back into the members and the credit union. This means that credit unions can provide lower interests rates which can then help you save money.

    Lower Fees

    Similarly, because credit unions invest their profits back into their members, they can also offer fewer or lower fees on their products and services. This can also help you save if you choose to utilize other services offered by the credit union, in addition to your car loan.

    Willing to Work with You

    While it may not always be possible, you’ll find that if you are a member of a credit union you are much more likely to have an institution that will work with you to receive an approval. If you have a strong relationship or a good history with your credit union, they are much more willing to work with you to get your auto loan approved than a traditional bank. This willingness to help also applies to new borrowers or those with little credit history.

    Local Service

    Credit unions are proud to be part of their local communities and Wasatch Peaks is no exception to that. Credit unions are known for making extra effort to support and engage with their communities. A great benefit of credit unions is that you are supporting a local business that is also supporting other local businesses and community members.

    Great Service

    Providing great, personalized service is something that is part of the culture of credit unions. Here at Wasatch Peaks, our motto is “Exceeding expectations, one member at a time.” We will always try to ensure that you receive great service throughout your experience.

    Member Owned

    When you join a credit union, you have the opportunity to share your voice. Credit Unions are member-owned, meaning that members can vote for to voice their opinions about credit union decisions and direction, like electing and voting for individuals to be part of the board of directors.

    Don’t miss out on the great benefits of working with a credit union! Wasatch Peaks Credit Union is proud offer low rates, flexible terms, and be involved in our local communities.

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    Wasatch Peaks

    Written by Wasatch Peaks