It’s Crystal Clear -

Manager’s Corner

    Through my time here at the credit union, I have seen many fads come and go. A Long term relationships are their goal@ is not only their logo, but also how they operate daily. They endeavor to balance the cost of loan products, reasonable repayment schedules, and risk for the credit union. As they look at the products and terms, their goal is not to just A put loans on the books.@ They try to keep their repayment schedules so the balance owing will always be equal or less than the value of the vehicle. That way their customer is never A stuck@ with a vehicle. However, as time has passed, competition has extended the number of months for their loans to be repaid. They have slowly extended theirs as well. If a person doesn’t put anything down on a vehicle and finances it 60 months, it takes 2B 1/2+ years, to begin building equity on the purchase - and 72 months - forget it! The difference in payment between 60 and 72 months is usually less than $100 a month! Normally $100 doesn=t justify 12 more payments at $400-500+ a month!

    Here at the credit union, their loan policy is conservative, and is not as liberal as car dealers or finance companies offer sometimes. Their rates are very competitive, however, and they will even match verified rates if at all possible. Sometimes their policy can= t compete though, because the credit union is not interested in getting them all in a bind. They are concerned how it will affect you - and eventually them in the long run. They have tailored the policy to achieve the best result for all concerned.

    They love to loan money here. It brings the highest return on their investment. If they can= t meet your terms, it is usually because they have seen those terms not be a benefit through the entire loan contract. And if it is not good for you - sooner or later, it will not be good for them. Establishing trust and a long term relationship grants you, as the member, all the benefit of their knowledge from years of practice and application. They never want the credit union to leave a sour taste in your mouth. They desire a long term relationship with you and your family.