Benefits of Getting Your Auto Loan through a Credit Union

Why Credit Union Loans Often Cost Less:

Credit Unions are member-owned, which means profits are returned to members in the form of lower rates and fewer fees. Unlike large banks or national lenders, credit unions don’t focus on maximizing shareholder profits.

As a result, credit union auto loans typically offer:

- LOWER INTEREST RATES

- FLEXIBLE LOAN TERMS

- PERSONAL MEMBER FOCUSED SERVICE

Over the life of the loan, even a small difference in interest can lead to meaningful savings.

Local Decisions Make a Difference

One of the biggest advantages of choosing a credit union for your auto loan is local decision making. Instead of your application being sent to a distant corporate office, loan decisions are often made by people who understand the communities they service.

This means:

- FASTER APPROVALS

- CLEAR COMMUNICATION

- LOAN OPTIONS TAILORED TO YOUR FINANCIAL SITUATION

The local approach helps create a smoother, more personal-lending experience.

Local Service with Online Convenience

You don’t need to live near a branch to take advantage of a credit union auto loan. At Peninsula Federal Credit Union, members can apply for an auto loan online, securely upload documents, and electronically sign loan paperwork from anywhere.

This allows you to enjoy the benefits of working with a local, member-owned credit union while completing the entire loan process on your schedule – without needing to visit a branch. It’s a convenient option for members throughout the Upper Peninsula and beyond.

New, Used, and Refinanced Auto Loans

Credit Union auto loans aren’t just for new vehicles. Peninsula Federal Credit Union offers:

- New auto loans

- Used auto loans

- Auto loan refinancing

If you already have an auto loan with another lender, refinancing through a credit union may help lower your interest rate or reduce your monthly payment.

Credit Union vs Dealer Financing

Dealer financing can be convenient, but it isn’t always the most affordable option. Promotional rates may be limited to certain vehicles or credit profiles, and terms aren’t always transparent.

With a credit union auto loan, you can:

- GET PRE-APPROVED BEFORE SHOPPING

- FOCUS ON NEGOTIATING THE VEHICLE PRICE

- AVOID FINANCING PRESSURE AT THE DEALERSHIP

Being prepared gives you more control during the car-buying process.

Why Upper Peninsula Drivers Choose Credit Unions

Drivers across the Upper Peninsula and Northeast Wisconsin value working with financial institutions that understand local needs – from longer commutes to seasonal driving conditions.

Credit unions offer:

- A MEMBER FIRST APPROACH

- COMPETITIVE LOAN RATES

- PERSONALIZED SERVICE BACKED BY LOCAL KNOWLEDGE

At Peninsula Federal Credit Union, helping members get where they need to go is part of serving the community.

Apply for an auto loan in the Upper Peninsula and Northeast Wisconsin

Whether you live near a branch or not, applying for a credit union auto loan is easy. Peninsula Federal Credit Union has branches to serve members in Laurium, Menominee and Escanaba, MI, and with online applications and electronic signing available to make the process simple from start to finish.

Apply online at Peninsula Federal CU - Loan Application or contact your local PFCU team to get started today.

This blog is not on behalf of Peninsula Federal Credit Union.