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How does a credit union help people with their financial goals?

1.       Credit unions usually appear to be just like any commercial bank because they offer most similar financial products. But when you have a closer look you can learn how they actually perform their operations differently with their unique benefits. A credit union is a not-for-profit financial organization owned by the members using its offered financial products and services. Credit union members can have access over the same products and services as offered by any best bank in Springfield, MA, including credit cards, checking accounts, and savings accounts and different type of loans. Members collectively elect to find a board of directors who can manage the credit union activities to make sure their interests are served.

The members own credit union organization, you’ll require to pass through the eligibility criteria so as to qualify and open an account, even apply for getting a credit card or take loan for education, auto purchase or mortgage. The requirements to be eligible for becoming a member differ from union to union.

How can you join credit union?

 You can be a member of a credit union easily, but you need to fulfill the requirements. You may need to be eligible if you live in a certain town or work with an employer. You can even qualify for being a member if someone from your family is already a member of a credit union. If you are unable to fulfill the eligibility requisites, there can be a chance to join. Some credit unions in Springfield, MA can enable you be a member by joining a collaborating organization. This comes with a lower fee to allow you get loans and earn huge on your deposits with the organization.

When you shop for credit union products or services, start with a local credit union, as you have better chances of achieving the membership requirements than a credit union outside your local community. If they don’t have the financial assistance you want, you might prefer other non-local credit unions that permit anyone from anywhere to join.

If you’re looking for a new credit card, account checking, or loan, you can consider products offered by a credit union. You can access services online for credit unions locally and in other areas that you are eligible for to be a member, or stop by a nearby local branch to find out the latest offers they provide and see how they help their members.

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A complete guide to access auto loans from credit union

Credit union is a financial institution that offers variety of banking services including deposit hard-earned money, getting auto loans, home equity, or mortgages in Springfield, MA. It is a not-for-profit organization that makes it easy for you to get a car loan from credit union at convenience. They do not charge high rate of interest and they ask you lower fees which help you save money to use in near future. They pass their savings to the members as lower loan fees and higher interest on deposit. Credit unions will look onto your loan approval application more comprehensively than a bank. These unions work by pooling the money of members i.e. keeping the money in loop. The credit unions in Springfield, MA use the money of the depositors to lend the money to the borrowers. When borrowers pay the loan again, they will pay the original amount plus the rate of interest.

In order to join a credit union, you just need to look for a credit union that you would like to get loan from and check if you can qualify for the membership. You can apply for the membership of credit union and then later apply for the loan approval process. You can find credit union based upon your job. There are some credit unions that work in the collaboration with the car dealers that can offer you some discounts which can be an advantage for a credit union. The shareholders own banks while the members own credit unions. Credit unions are for helping people without earning much profit and using the earned amount to pay the depositors as high interest on their saved money. Credit unions will help you have a look at the larger picture regarding the financial requirements so that you have an easy time getting your loan approved. One major disadvantage you might feel while working with a union is that they only allow loan approval to the member of their credit union and community. The best advantage is that you have to meet flexible approval requirements for getting loans.

Best bank in Springfield, MA or credit unions are not the alone that offers you auto loans, while there are several other options too. Before you commit to any money lender, make sure to check around for a bit to get best deals irrespective of the type of money lending institution it is since this will help you get complete security.

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Why use home equity line of credit?

Home equity is the difference between your home worth and what’s left on your mortgage. Equity with your home ownership is a smart way to establish your personal wealth with time. With the increase in your home value over time and you pay the mortgage back; your equity will grow back. Home equity is a time tested way to build your wealth and it offers great opportunities to homeowners while working as a great source for savings. Home equity is generally utilized for bigger expenses showcase a cost effective way of financing. To use your equity, you will have to follow a thorough process which is quite similar to getting mortgage, which is why it is also known as second mortgage.

Employing your home equity with credit unions in Springfield, MA is convenient and a low cost way for debt consolidation or home repairs. However, the selection of suitable loan depends upon your requirements as well as the purpose you are using it for. There are different ways you can use your home equity for -

1.       Home renovation/improvements

2.       Education support

3.       Consolidate old debt

4.       Wedding expenditures

5.       Mortgage and many more.

Lenders generally offer 80 percent to homeowners for borrowing equity on their homes. This can vary from person to person and depends upon your credit score and current annual income. We all know it can be quite tempting to disburse your hard-earned money on buying anything other than for your house; it is advisable to plan your savings to cover these irrelevant or unexpected expenses. If you take out a home equity loan and your home value degrades, you might end up having overdue of more amount between your loan and mortgage even more than the actual worth of your home. This means if your mortgage us underwater, it will be quite hard for you to get a new loan.

Even if you use home equity to add more value to your home or your financial condition, remember that if you somehow due to any reason, fail to pay back a home equity loan, you can lose your home to the lending party. Thus don’t overspend and never put your home at the risk of getting seized. If you are planning to get a home equity line of credit or mortgages in Springfield, MA, credit union will help you get a favorable one.

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Reach your financial goals with Premier Source

Premier Source credit union is a not for profit financial institution established to serve the financial requisites of all the members of credit unions in Springfield, MA. The foremost priority for us is our credit union members and the community they have formed being together. We have a belief that every investor or depositor is also a shareholder cum owner of our best bank in Springfield, MA. They hold a decisive part in influencing the course of our operating procedure. We are dedicated to serve our union members a podium where they can easily access to as many audiences as possible as based on the set benchmarks.

Premier Source is one of the best podiums meant not to earn profit being highly user friendly to allow its members ad employees to access the financial assistance right when they need it. We aim at supporting the members and assist them in their mortgage needs, since we are renowned for imparting reasonable & affordable mortgages in Springfield, MA. We offer flexible payment options ensuring the borrowers do not feel a burden while paying us back. The variety of loans you can ask us for includes conventional mortgages, VA mortgage, and mortgage for senior citizens, and personal loans in Roanoke, VA on rigid as well as flexible rates. You can even select the option to “skip the payment of paying back personal loan twice a year based on the calendar year”. With this versatility of paying back, they can leave a payment twice a year if they feel they are not capable of paying at that moment of time. We are offering the below mentioned different loan types to all of our members and employees at easy interest rates -

1.       Personal loans - People always search for the good personal loans at easy to pay interest rates. You can ask us for a personal loan in Roanoke, VA when your taxes are unpaid, and your refrigerator turns you down or you want to pay your high interest rate loans. You can have a personal loan for vacation, home renovations, special events, or repaying other loans.

2.       Vehicle loans - You can buy a vehicle loan if you want to land on your first own car for convenience and time saving.

3.       Credit Cards - You can apply for a credit card today in any of our branches for modest fees.

4.       Student & Parent loans - Take loans for completing education further or help your ward complete his education from reputed universities with our student and parent loans.

5.       Home Equity loans - If you want to get financial assistance in paying your debts, child education funding or other consolidate other major expenses, you can borrow the home equity loans.

6.       Mortgages - Borrow the mortgages to buy your first dream house and get a shed over your head in your name with the flexible down payment options.

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Premier Source, proud to be with you, at giving back

Premier Source Credit Union is an association founded with a vision to provide our members with a safe place where they can deposit and borrow money. With the passing years, we've developed a robust establishment of relationships with our loyal members - eventually by supporting them to achieve their dreams. Our employees are helping and being part to live our mission every day to glow those circumstances for our members to get financial liberty and security as if they want to purchase their first dream car and home, start one’s own business or looking to save for their children's future.

We want to help our members to improve their standard of living and to fulfil their dreams in every possible way. We are not here to earn any profit or to pressure down our members with the loan interest rates rather we want to provide them easy loans on reasonable interest rates at which they can repay quite easily. The interest we earn by the mortgages is invested in providing good interest rates on deposits. We believe the credit union can only do well if the community is doing well, and you the members are doing well. We want the development of our members so they can have a sense of self-empowerment.

We always maintain a level of transparency in our operations, so that you people can trust and rely on us with your loyalty and honesty. Our mission is to provide improved quality of service, while supporting members and employees, to achieve financial security, their goals, and ultimately, their dreams.

1.                   We want to give it back to our community.

2.                   We don't aim at earning any sort of traffic.

3.                   We want to help you achieve your dreams.

4.                   We are a team of passionate and devoted members looking to help the community change its standards.

5.                   We want everyone to grow together.

6.                   Our members should never feel unsafe in any terms. Therefore we want to serve them equality and respect.

We want to assure you, the members of the credit union to understand that we are always standing by your side whenever you are in need of financial services. You will never feel like you are in debt or something and you can pay back at easy terms. The users we have connected to us come from all over the world and phases of society.  

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Premier Source Federal Credit Union - Local Federal Credit Union Springfield MA

Premier Source credit union can be understood something that is not meant for earning profit rather it is established to serve the financial requirements of the members of credit unions in Springfield, MA. We know that our first and foremost priority is our credit union members and the community they have formed. At our end, we believe every investor or depositor is a shareholder and owner of the best bank in Springfield, MA. And they hold a crucial role in shaping the direction of our working format. We are committed to make provide our members a platform that can be quite easily accessible to as many audiences as possible as per the set standards.

Premier Source is the best platform that is highly user friendly for the members to access federal credit when they require it. We are helping our members to assist them in their mortgage needs as we are best known for giving mortgages in Springfield, MA. We offer our depositors flexible options for down payment so that you don’t have a burden to pay us back. The choices you get with us are conventional mortgages, VA mortgage, and mortgage for senior citizens, fixed as well as adjustable rates.

Gathering with the resources of credit unions like Twin Meadows Federal Credit Union, Embeco Federal Union and others helped us to provide our members personal attention and it has also made us expand our range of services that we are serving to the members of our credit union. We are even providing an option to “skip the payment of personal loan twice a year as per the calendar year”. It provides them a versatility of paying back in which they can leave a payment twice a year if they are not capable of paying that time. Our personal loans include giving loans for following-

·         Home renovations- In this type of personal loan, you can take loans to make improvements and repair of your home. Such loans can sometimes offer you better rates for the financial help.

·         Vacation plan – when you are dreaming of spending some time with your family in other countries but don’t have enough budget, you can ask for a help from us in the form of a personal loan.

·         Your special moments – you can ask for a personal loan for occasions like wedding, birthday party, anniversaries that are worth for celebration.

If you want to reach us out, contact us through our website.