Why a Credit Union is a Smart Choice for Your Next Auto Loan

Because credit unions have a different ownership structure than traditional banks, they have a vested interest in the people they serve. Banks and the majority of consumer finance companies are driven by the need to please stockholders, which means they need to make profits. The owners of credit unions, on the other hand, are members, not stockholders. That means profits are distributed among members in the form of dividends and low-cost services – as well as great rates on auto loans.

Credit union members are not only eligible for lower interest rates on loans, they are also eligible for other benefits that are associated with membership—including educational resources and special offers.

While there are membership requirements for credit unions, the opportunities for membership are much more inclusive than in past years. While some credit unions are specialized, FSU Credit Union is open to a broad field of membership that extends beyond the FSU community. While there are certain benefits for being a Florida State alumnus or a member of the Seminole Boosters or Alumni Foundation, membership is open to anyone who works or lives in Leon or one of six surrounding counties.

If you’re interested in both personal benefits and serving your community, then you will like the commitment credit unions make to impact the communities they serve. Initiatives such as the FSU Credit Union Borrow 4 Less, Give Back More program, which donates $10 to a worthy local charity for each eligible auto loan, makes financing your vehicle through a credit union more than just a financial transaction.