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Credit Union Members are on the Move with Low Rate Auto and RV Loans

Credit Union Members are on the Move with Low Rate Auto and RV Loans

It’s hard to believe, but more than half of the summer season is already behind us. With a few precious weeks of warm weather and carefree days still ahead, many credit union members are looking forward to squeezing in a fun summer getaway or adventure. For some, that means taking to land or sea in style.

Whether you’re planning the ultimate road trip, campout, joyride, or sailing excursion, the right vehicle is important, and your credit union can help you get it for less. Throughout the summer, many credit unions are offering special rates on auto and RV loans.

Hit the Asphalt or Surf with Great Loan Rates

In addition to affordable rates on vehicles of all sorts, credit unions also provide great member service to help members fund their summer trips with no sweat.

Although Redwood Credit Union (Santa Rosa, CA) offers auto and RV loans year-round, they offer special campaigns during the warm-weather months, since that's when many people are seeking new vehicles.

This summer RCU is highlighting a 1.94% APR on new autos (including a ¼% rate reduction for qualifying fuel-efficient vehicles) for terms up to 60 months. Used auto rates (for vehicles under 10 years old) start as low as 2.44% APR for terms up to 60 months. When it comes to RVs, RCU’s new loan rates (including motor homes, boats, travel trailers, tent trailers, and motorcycles) start as low as 4.49% APR for terms up to 84 months, and used RV loans (for vehicles under 10 years old) start as low as 4.99% APR for 84 months.

According to Robin McKenzie, Senior Vice President of Marketing, RCU also offers special incentives for select audiences to refinance their loans (from other lenders) with RCU. These vary depending on the audience, and may be a rate discount, cash back, or 90-day payment deferral. “Members tell us how much they appreciate our low rates and exceptional service, so we do our best to keep our focus on service and value,” said McKenzie.

RCU’s auto and RV loans are very popular with their members, and their low rates attract new loans as well. Our RV promotion ran from May 1 through June 30 and we funded nearly $5 million in RV loans during the promotional period,” reported McKenzie. Many Members consider RCU their go-to source for auto and RV loans. These recent comments from the credit union’s Facebook page are a testament to their popularity:

Members can apply for all their loans on RCU’s website, over the phone or in branch. After a recent upgrade to the online lending system, members can now electronically sign their loan documents and receive funding online without having to visit a branch. “Our Members tell us they love our low rates and exceptional personal service. Many of them share their RCU experiences their friends and family, which is the best promotion we can get,” added McKenzie.

Likewise, Security Service Federal Credit Union (San Antonio, TX) offers members competitive low rates on auto and RV loans, and has an excellent relationship with area dealerships, which keep their auto/RV lending programs at the forefront of the competition during the summer and year-round.

Clarissa Rodriguez, Corporate Communications, says that the credit union offers some of the best loan rates in the marketplace. “The dealerships know how competitive we are and have certainly helped us continue to grow our loan portfolio throughout the years.”

SSFCU members themselves also love the great vehicle rates they’re getting with their credit union. “Locally, one out of every three cars in San Antonio is financed by Security Service,” reported Rodriguez. Additionally, Security Service's outstanding indirect auto lending program has been recognized more than 10 consecutive years in a row as the number one indirect auto lender in the nation among credit unions.

Members can apply online or by calling SSFCU’s 24/7 Member Contact Center. “Having access to these types of loans with such competitive rates is a benefit to our members,” said Rodriguez. “We provide them with affordable financial products and services that help them achieve their financial goals -- It's all about people helping people.”

Magnolia Credit Union (Jackson, MS) also offers competitive auto and RV rates starting as low as 2.50% APR with terms up to 84 months. “By featuring these products on our website and through paid Facebook advertising, in July, we did over 150 auto loans for just over $2.2 million as well as 10 RV loans for just over $100,000,” said Lanet McCrary, VP Marketing and Business Development.

If you’re in the market for a vehicle that will add some fun and excitement to the summer’s end, look to your credit union for affordable and convenient financing. Not a member? Find a credit union and join today!

By Cyndi Cohen
Published August 6, 2013
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