Thanks to BankVibe.com reader Ben for forwarding us an incredibly loan auto loan rate offer from a credit union in Illinois. Currently Tee Pak Credit Union, out of Danville, Illinois, is offering auto loan rates as low as 3.75% APR for qualified borrowers. To put this offer in perspective you may want to browse through our archive of auto loans.
A bit about Tee Pak Credit Union… (as seen on their website)
Over 50 years ago, Tee Pak Credit Union was formed to provide the employees of Tee Pak an alternative to traditional for-profit banking institutions. Providing fair returns on your hard earned savings and competitive rates on loans, the credit union has grown to over $13 Million in assets and provides services to over 2000 members.
Eligible employee groups are Viscofan,LLC employees and their families and other relatives. Also employees of the Commercial News, the County of Vermilion and students and faculty from Schlarman High School. In 1996 the credit union amended its charter to include Retirees of Teepak or Viscofan.
Unlike other financial institutions, Tee Pak Credit Union is owned and operated by its members. The traditional credit union motto of “People Helping People” is what they claim to be all about. Because they are a member-owned financial cooperative and members make up the Board of Directors with no outside stockholders, their savings and loan rates are very competitive and often the best available.
Not eligible to join this credit union? Check out some of the best auto loan rates available in Illinois below…
- Select Employees Credit Union (Sterling, Illinois) – 0-60 month new car loans with rates between 1.99% APR and 5.99% APR. Used car loans with rates between 2.99% APR and 6.99% APR.
- Redbrand Credit Union (Peoria, Illinois) – new car loans with rates starting at 4.85% APR.
- MidWest America Federal Credit Union (Mattoon, Illinois) – 36 month auto loans with rates starting at 4.34% APR.
If you live in Illinois and know of a lower auto loan rate going on through your local banking institution, please share by leaving a comment!
Please note – Like all bank rates these are time sensitive in nature, please refer to the date of this article for accuracy.