2317 Easton Avenue
Bethlehem, PA 18017-5099

Phone 610-691-0041
Fax 610-691-8624
E-mail service@btcu.org

Click here to return to the BTFCU Home Page.

Convenient Access:

Click here to do your BTFCU banking on the Internet. (Requires registration before using first time.)

Link to the BTFCU Electronic Bill Payment site. (Requires registration before using first time.)

The phone number for Audio Response (Bank-by-Phone) is 1-800-553-0857. Click here for audio response instructions.

Click here to do your VISA card banking on the Internet. (Requires registration before using first time.)

Click here to find ATMs that charge no fees to BTFCU members.

Click here for an online Mortgage Application.

Click here for an online Loan Application.

Click here to see BTFCU's Savings Accounts and Savings Rates. Click here to see BTFCU's Loans and Loan Rates.

Find out how to join Bethlehem Teachers FCU.

CLOSED Monday, Sept. 1st (Labor Day)

Office Hours:

Monday, Tuesday,
Wednesday, Friday:

9:00 a.m. - 5:00 p.m.
Thursday:
9:00 a.m. - 6:00 p.m.

Closing or delay due to weather? Check WFMZ:

Click here to go to Channel 69's Stormcenter Update webpage.
Click here to go to the BTFCU Facebook Page.
SITE INDEX
About Us
Applications & Forms
Back to School Loans
Bill Pay
Calendar
Canceled Checks
Car Loans
Checking
Contact Us
Credit Card
Debit Card
Dorney Tickets
Enterprise Car Sales
E-Statements
Fees
Gift Cards
Home Page
Hours
Insurance
Loans
Membership
Merger
Mortgages
New to BTFCU?
Newsletter
Online Banking
Overdrafts
Privacy
Savings
Skip-A-Pay
Student Care Package
Technology Loan
Info on ATM (Star) Cards and VISA Debit Card Mortgages (BTFCU is an Equal Housing Lender)
Information on VISA Credit Cards
Your savings are federally insured  to at least $250,000 and backed by the full faith and credit of the United States Government. Click here to learn more about how you are protected by the NCUA.
Serving Members
Since 1935

5 Reasons to Shop a Credit Union for a Car Loan


From US News & World Report's April 22, 2013, edition:

In the article entitled “ My Money: 5 Reasons to Shop at a Credit Union for Car Loans”, Mike Schenk, Senior economist at Credit Union National Association said consumers are better off choosing a credit union for a car loan because:

  1. You have a better chance of having your loan approved. If you have mediocre credit or have had credit problems in the past, a credit union might be “more likely to listen to your story than a commercial bank,” says Schenk. If you’re worried you might get turned down for a car loan because of your credit history, consider approaching a credit union before you talk to a lender at a commercial bank. Even though the loan application process is the same and the underwriting process is similar, the credit union may make some adjustments that a commercial bank would not. Many credit unions are more inclined to listen to its members’ needs and unique situations—sometimes adjusting terms of a loan accordingly.
  2. Lower rates. A five-year term is the most common loan term for a new or used car, and rates at a credit union are typically much lower than the average rate at a competitor bank. According to the latest report from the market research firm Informa, the average rate on a new car loan of $30,000 from a commercial bank is 4.16 percent, while the average rate on a new car loan for the same amount from a credit union is 2.82 percent; that’s more a 1.3 percent difference and equates to a difference of $215 a year, or $1,100 over the life of the loan.
  3. Personalized service. Credit unions are non-profit organizations and work to provide members with high-quality customer service. Since operations decisions are made by a group of volunteer board members—rather than a corporate office—members tend to have a more personable experience at a credit union. You can openly discuss your concerns about your loan, talk about flexible repayment options and review your financial situation with a dedicated professional. This can alleviate some of the pressure of applying and securing financing for your new or used vehicle and you can be more confident that the credit union is working with your best interests in mind.
  4. Educational resources readily available. Schenk explains that almost all credit union branches have a dedicated education and resource center, where members can learn more about financing options and how to make the best decisions when assessing the value of their car purchase. If you’re a first-time car buyer and apprehensive about the loan process, you can turn to a credit union for unbiased answers. “The branch can show you how to calculate the real value of your car—not just what the dealership declares as the value of the vehicle—and make a better decision about the deal,” says Schenk.
  5. Non-sales approach. Unlike commercial banks, which often grant their lenders bonuses or some type of compensation for the loans they get approved, credit unions work for their members and aren’t driven to sell you anything that equates to extra money in their pocket. All profits from members end up going back to them in the form of lower rates on other financial products, such as savings accounts, and more flexible loan options. If you don’t like the pressure of working with lenders from a commercial bank, consider heading to a credit union for a less sales-oriented approach—and potentially rewards in the form of better financial products and services.

To view the article, click here.

     

Copyright © 1999-2014 Bethlehem Teachers Federal Credit Union.
Last Updated: 8/27/2014 10:22:23 AM Eastern Time