SmartWay ® Auto Program
When you choose to drive green, we think you should save some green too. That's why we've partnered with the EPA's SmartWay® Program to expand our green vehicle discount to over 1,500 emission- and fuel-friendly vehicles.
When you're ready to hit the street in a SmartWay car or truck, we'll help you save some green by reducing your rate by .25% APR. The discount is good on all SmartWay certified vehicles with a maximum 100,000 miles and less than ten model years old.
Find your green auto fast. Just start with the EPA's complete list. Notice how a vehicle's Air Pollution Score and Greenhouse Gas Score add up. To receive the SmartWay designation, a vehicle must get a 6 or better in both areas with a total score of at least 13. To be a SmartWay Elite vehicle, it must score 9 or better in each category.
Get pre-qualified online right now or at any branch. We'll make sure you get the discount.
Prepare to Borrow
Everyone typically borrows money at some point throughout life. Mortgages, auto loans and college loans help you afford things that may be beyond your current financial reach and credit cards can provide convenience. However, borrowing money can also cause serious problems if you rely on it too much or you do the wrong type of borrowing.
As your credit union, we're here to help serve your financial needs, and that includes helping you borrow money. We're also here to help you build a strong financial future. That's why before applying for a loan or a credit card, there are some important things we encourage you to consider:
- Why are you borrowing?
- Do you understand your responsibilities?
We recommend borrowing for things that provide long-term value before borrowing for things that provide only momentary enjoyment. It's much easier to justify borrowing for a home or a college education than borrowing for a great vacation or a new wardrobe.
Any money you borrow you'll need to repay with interest. That means if you buy that new wardrobe with a credit card that "sale" may end up costing you more in the end. Be sure you can afford the payments that the borrowing will require. Also, spend some time to find the loan with an interest rate and terms that best fit your situation.
Before you complete a loan application, here are some items you may want to know:
- Your credit report.
- Proof of income.
- Tax return.
- Personal financial statement.
All lenders will automatically order a credit report and you should know what yours contains. You can visit www.annualcreditreport.com to obtain a free credit report once annually from the three major credit reporting agencies.
Depending on the type of loan, you may need to provide recent copies of payroll check stubs and W2s from prior years.
If you're applying for a mortgage or a large personal loan, you'll probably need to supply copies of at least one federal tax return.
For mortgages and other large loans, lenders may require that you supply a financial statement listing all your assets and liabilities. It's also a good idea to prepare a personal financial statement annually as part of managing your finances.
What lenders are looking for
Remember that lenders are loaning you money that they want repaid along with interest. This is their business and they want to make sure that you'll be able to live up to your repayment responsibilities. Along with the items mentioned above, they'll be looking at other aspects of your finances to be comfortable approving your loan.
- Stable employment.
- Stable residence.
- Responsible debt management.
Having a steady job can help give lenders confidence that you will have ongoing income to repay your loan. If you have a history of several job changes, it may raise a yellow flag so be sure you can explain them. For example, if you have frequently changed jobs for better opportunities, be sure to mention it.
Lenders like to see at least six months of residence at the same place.
Having a solid history of timely and regular payments also helps give lenders confidence that you'll be able to handle this debt in the same manner.
The decision to borrow money is serious. We encourage you to thoroughly understand the loan terms and conditions before signing on the dotted line. Spending a little time thinking about borrowing and being properly prepared will make the process easier and help you build a stronger financial future.