Posts Tagged ‘Texas credit unions’
Ridiculously Low Auto Loan Rates In Texas – Today’s Lowest APR’s
It’s been a while since we’ve covered some of the lowest auto loan rates across the country offered by local banks and credit unions, however, after being tipped off on several noteworthy offers out of Texas we felt we were past due on compiling a list of top rates. If you happen to live in Texas and are looking looking to finance a new car or truck or are simply looking to refinance an existing auto loan you may want to review some of the advertised rates from institutions we’ve gathered and highlighted below.
Texas, in general, is a decent state to find notable interest rates from local banks and credit unions simply because of the competition. Texas hosts some of the best rates from geographically exclusive, locally based, credit unions and community banks in the country. And these institutions are generally the best providers of low APR’s on car loans.
Why obtain auto financing through a bank or credit union?
The main strategy behind this, is that when you enter a dealership with an approved loan, you are essentially treated as a cash buyer. This tends to give you greater leverage in the negotiation process.
Lowest Auto Loan Rates in Texas (December 2011):
(Check with the individual institution to see if you qualify)
- Air Force Federal Credit Union (San Antonio, TX) has a 36 month new car loan featuring an APR of 1.75%.
- Navy Federal Credit Union (Portland, TX) has a 36 month new car loan featuring an APR of 1.79%.
- Amplify Federal Credit Union (Austin, TX) has a 36 month new car loan featuring an APR of 1.89%.
- Austin Telco Federal Credit Union (Round Rock, TX) has a 36 month new car loan featuring an APR of 1.89%.
- Synergy Federal Credit Union (Texas City, TX) has a 36 month new car loan featuring an APR of 1.90%.
- First Community Credit Union of Houston has a 36 month new car loan featuring an APR of 1.99%.
- Firstmark Credit Union (San Antonio, TX) has a 36 month new car loan featuring an APR of 1.99%.
If you live in Texas and have recently obtained a new car loan or refinanced an existing auto loan and know of a better locally based APR, please share by leaving a comment!
Tags: Texas credit unions
Best 7 year CD Rates Found in Texas Credit Union
Over the New Year’s holiday weekend we were forwarded a very enticing 7 year CD rate found from a credit union serving southern Texas residents. While we wouldn’t necessarily recommend going long on a bank CD currently, if you do decide to open one, below is one of the top APY’s on the market. However, like most credit unions, this one is geographically exclusive and unless you live in the San Antonio or Austin region of Texas you’ll likely find it hard to join. RBCU has 37 locations throughout Texas and allows you to open certificates of deposit either on the phone or by stopping in to one of their local branches.
Randolph Brooks Credit Union out of southern Texas is currently offering it’s members 7 year CDs with the following APYs and minimum deposit requirements:
- 3.30% APY with a $1,000 minimum deposit.
- 3.35% APY with a $5,000 minimum deposit.
- 3.40% APY with a $20,000 minimum deposit.
- 3.45% APY with a $75,000 minimum deposit.
RBFCU’s Complete List of CD Rates:
| Term | $1,000- $4,999* | $5,000- $19,999* | $20,000- $74,999* | $75,000 and over* | ||||
|---|---|---|---|---|---|---|---|---|
| APY %** | Dividend Rate %*** | APY %** | Dividend Rate %*** | APY %** | Dividend Rate %*** | APY %** | Dividend Rate %*** | |
| 26 Weeks | 0.60 | 0.60 | 0.65 | 0.65 | 0.70 | 0.70 | 0.75 | 0.75 |
| 1 Year | 0.90 | 0.90 | 0.95 | 0.95 | 1.00 | 1.00 | 1.06 | 1.05 |
| 2 Years | 1.36 | 1.35 | 1.41 | 1.40 | 1.46 | 1.45 | 1.51 | 1.50 |
| 3 Years | 1.97 | 1.95 | 2.02 | 2.00 | 2.07 | 2.05 | 2.12 | 2.10 |
| 4 Years | 2.17 | 2.15 | 2.22 | 2.20 | 2.27 | 2.25 | 2.32 | 2.30 |
| 5 Years | 2.73 | 2.70 | 2.78 | 2.75 | 2.84 | 2.80 | 2.89 | 2.85 |
| 6 Years | 2.99 | 2.95 | 3.04 | 3.00 | 3.09 | 3.05 | 3.14 | 3.10 |
| 7 Years | 3.30 | 3.25 | 3.35 | 3.30 | 3.40 | 3.35 | 3.45 | 3.40 |
Terms and Conditions:
- Early withdrawal penalty for certificates purchased on or after 07-01-03: 6 months – 30 days; 1 year – 60 days; 2 year – 120 days; 3 year – 180 days; 4 year – 240 days; 5 year – 300 days; 6 year – 360 days; 7 year – 420 days. The APY for certificates assumes dividends are added back to the certificate.
- APY means Annual Percentage Yield.
- The dividend rate is the declared annual dividend rate paid on an Account, which does not reflect compounding.
- This credit union is federally insured by the National Credit Union Administration.
Top 30 month CD rates offered through TFCU
The best 30 month CD rates we found this week came out of a relatively small credit union in the El Paso, Texas region. Unfortunately, like most member-owned, community credit unions, this one is nearly impossible to join if you live outside of Texas and don’t have family members whom are currently members.
If you are fortunate enough to be eligible to join this organization you will be able to snag a 30 month CD yielding 2.68% APY with a minimum deposit of just $500.
To put this offer in perspective the current national average for 12 month CD’s sits at roughly 1.17% APY and the current national average for 36 month CD’s sits at just 1.98% APY.
CD Rates offered through El Pase Area Teachers Federal Credit Union:
12 months 1.76% APY
18 months 2.17% APY
30 months 2.68% APY
60 months 3.50% APY
- You may want to compare these rates with other CD rates in Texas. If you live in the state you may also want to review other credit unions in Texas.
Membership Requirements:Individuals who live or work in El Paso, Texas can join this credit union. You will be required to put in a minimum of $25 into a savings account when you sign up. Take a look at their membership details to learn more about the entire membership process.
Unique Approach to Online Banking: TFCU’s website interface gives you two options from the get go – you can either go corporate or go hippie! The corporate website is a no-nonsense interface with professional images and straight foward navigation. The hippie side is completely different – with a psychedelic feel and look it almost makes online banking fun!
If you have experience with TFCU, feel free to share by leaving a comment!
Best CD Rates in San Antonio, TX: Top 3
Below are the highest yielding CD (certificate of deposit) rates available to the residents of San Antonio, Texas. The institutions we will cover all include the following cities in Texas: Hollywood Park, Converse, Kirby, Castle Hills, Leon Valley, Helotes, Schertz, New Braunfels, Fair Oaks Ranch, Boerne, and San Marcos. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of San Antonio as well as Texas, we found that for the most part, you will be able to receive slightly better rates with national institutions than with local ones.
Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide.
How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.
Best 6 month CD rates in San Antonio, TX:
- Saint Josephs Credit Union has a 6 month CD yielding 1.70% APY with a minimum deposit of $1,000 required.
- City Public Service Credit Union (San Antonio branch) has a 6 month CD yielding 1.66% APY with a minimum deposit of $10,000 required.
- Plains Capital Bank has a 6 month CD yielding 1.60% APY with a minimum deposit of $1,000 required.
Best 12 month CD rates in San Antonio, TX:
- Saint Josephs Credit Union also has a 12 month CD yielding 2.0% APY with a minimum deposit of $1,000 required.
- iGoBanking.com has a 12 month CD yielding 2.0% APY with a minimum deposit of $1,000 required. This is an online bank and can accept deposits from any state.
- San Antonio Federal Credit Union has a 12 month CD yielding 1.90% APY with a minimum deposit of $10,000 required.
Best 24 month CD rates in San Antonio, TX:
- Hudson City Savings Bank is a national bank that can accept deposits from customers nationwide. They have a 24 month CD yielding 2.50% APY with a minimum deposit of $5,000 required.
- San Antonio National Bank has a 24 month CD yielding 2.47% APY with a minimum deposit of $500 required.
- Saint Josephs Credit Union has a 24 month CD yielding 2.40% APY with a minimum deposit of $1,000 required.
Texas Credit Union offering 3.15% APY on 12 month CD
Velocity Credit Union of Texas, is offering a very decent 12 month CD (certificate of deposit) yielding an APY of 3.15%. The minimum deposit required with the certificate is $5,000 and it will be available through the end of this month. Velocity Credit Union will also allow you to use this as a regular CD or an IRA CD.
Velocity Credit Union has fairly strict eligibility terms. To be eligible for the certificate of deposit you must be either A) be related to a member B) reside in Travis County, Texas, Williamson County, Texas, Hayes County, TX, Bastrop County, TX, or Caldwell County, Texas. They also have a list of 250 sponsoring/member companies whom are eligible for their CD rates.
Keep in mind they are also known for running savings account promotions and CD rate promotions which last very briefly. Just earlier this month they had an 18 month CD with a rate of 3.44% APY which could be used as a regular certificate of deposit or an IRA CD (similar to their current offer). That CD rate promotion ended after only 2 weeks. To apply for their current CD offer you must fill out their online application.
