America's Credit Unions: Secure, Strong
Credit unions have steered clear of the subprime mess and are still lending responsibly. Legal Community Credit Union of Colorado has not delved into the mortgage arena, securing our balance sheets from the impact. All credit unions in this state are federally insured by a fund that, like the FDIC, is backed by the full faith and credit of the U.S. government. The National Credit Union Share Insurance Fund (NCUSIF) insures savings of at least $100,000 per account (with additional coverage of up to $250,000 for certain retirement accounts).
Not one penny of insured savings has ever been lost by a member of a federally insured credit union. As a member of an insured credit union, you do not pay directly for your share insurance protection. Your credit union pays into the NCUSIF.
You may find the following publications helpful:
To determine insurance coverage, see the NCUA's insurance estimator at: http://webapps.ncua.gov/ins/
Know Before You Go
Learn the truth about 0% financing to help you make an informed decision before you take dealer financing!
Purchase Price of Car: $20,000
Rebate: $ 3,000 (you get either incentives or 0% financing, not both)
Credit Union Interest Rate: 5.00%
Loan Terms: 60 Months
| Credit Union Loan |
Dealer Financing |
| Loan Amount: $17,000 |
Loan Amount $20,000 |
| APR 5% |
APR 0% |
| Monthly Payment: $320.81 |
Monthly Payment: $333.33 |
| Total Payments: $19,248.66 |
Total Payments: $20,000 |
| Savings: $751.34 |
Effective Interest Rate: 6.59% |
Click here to print a loan application
Avoid Identity Theft
Learn how to Deter-Detect-Defend against identity theft. Visit http://www.ftc.gov/idtheft for valuable resources to learn about identity theft, what to do if your identity has been stolen, and how to report it.
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