Vehicle Loans
Loan Protection
Tri-Town Teachers offers two types of loan payment protection plans for its members. For vehicle loans, Guaranteed Asset Protection (GAP) can protect the borrower when the amount of the loan principal exceeds the insurance value of the vehicle. Credit Life and Credit Disability protect the borrower and his/her family in the event death or disability strikes the borrower. To learn more about these plans, click here.
Loan Calculator
Look for yourself!!
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use a loan calculator and determine what your loan payment would be on any
loan and see how affordable loan protection would be for you.
Risk Based Loan Rates
The Board of Directors of Tri-Town Teachers Federal Credit Union has changed its lending policy effective Monday, April 3, 2006 and has implemented a Risk Based Loam Policy for all our loans. This makes our policy consistent with our Credit Card loan policy which was implemented in October of 2005.
This new Risk Based Loan Policy rewards our members who maintain good credit ratings by providing excellent loan rates. At the same time it recognizes the risk of providing loans to individuals who have less than stellar credit and requires higher interest rates based on lower credit categories. We have established five (5) credit categories or "grades" with correspondingly higher interest rates as the members' credit score declines. This pricing arrangement has been implemented by most financial institutions because it more accurately reflects the risks of lending and shifts higher costs of borrowing to people who have demonstrated that they are not handling their finances as well as they should by not paying bills on time.
Click on New/Used Vehicle Rates or Personal Loan Rates to view the new loan rates.
Used Vehicle Loans (Click on "rates" for our Current Specials!)
We will lend up to the N.A.D.A. Average Retail Value on used vehicles up to seven years old. Terms available of up to five years on certain model years. We also have special sales with Enterprise Car Sales where we will finance 100% of the purchase price, watch the "News and Events" page for details. We will need a completed loan application, proof of income and a full description of the vehicle and can usual get approval the next business day.
New Vehicle Loans (Click on "rates" for our Current Specials!)
Borrow up to 100% of the purchase price of any New Vehicle for up to six years. Most approvals are done the next business day. Just complete a loan application, provide proof of income and a copy of the sales contract with the dealer to get approval. Still shopping? Ask for a pre-approval and you will know how much you can spend.
Loan Applications
When we need to borrow money, we want to know as soon as possible that we have been approved. At the credit union we strive to provide that answers in 24 hours. To help us in this, we need to get all the required documents as soon as possible, the sooner we get it the faster we can approve your loan. When the time comes to apply for a loan, please bring the following:
For All Loans: Complete the application on both sides and bring proof of income, either two recent consecutive pay stubs, two years federal tax returns, or a letter from your employer.
For Debt Consolidation Loans: Copies of the bills you to be paid with current payoff balances. Checks will be made co-payable.
For New Vehicle Loans: Either a copy of the conditional bill of sale from the dealer or a request for pre-approval.
For Used Vehicle Loans: If purchased from a dealer, a copy of the conditional bill of sale. If purchased privately, a complete description of the vehicle including Make, Model, Year, Mileage, all options, and the Vehicle Identification Number.
On-line Loan Applications: For members with on-line account access, we offer an on-line loan application service. Use the FLEXTELLER Log In Form on our Home Page to directly access your account. Or you can log in through the Online Account Access Page.
For instructions on how to complete an on-line application, click here. You may print the instructions, using your normal browser print function. You have have finished, close that window and you will be returned here.
In most cases loans cannot be approved until all the required information is received. Once received, we can usually have an answer for you within 24 hours.
Auto and Home Insurance
Tri-Towns FCU has increased its member services by expanding our long-standing relationship with The CUNA MUTUAL Insurance Group and offering their services directly to our members through their MEMBER CONNECT PROGRAM. In so doing our members will be able to obtain Automobile & Home insurance from a trusted source. Auto and Home Insurance will be provided through CUNA MUTUAL's partner—Liberty Mutual Insurance.
For more information please go to our Insurance Page or to access the insurance program directly, click on the button below.
