Secured loans are issued to members when the item that is being financed is used as collateral to secure the loan. Secured loans include such items as cars, trucks, SUVs, vans, boats, recreation vehicles, ATVs, snowmobiles, motorcycles, and more – basically any item that is titled. Perhaps you’d like to enjoy Michigan’s beautiful lakes in your new or used boat, or tour the countryside in a motor home or travel trailer. We can help make dreams come true.
You can choose from low rates and flexible terms at your credit union. Plus, we offer risk-based lending which means that the better your credit history is, the lower your rate; and members that otherwise could not obtain credit perhaps can do so – but at a slightly higher interest rate.
For members who are over extended, we'll take the time to meet with you to help you get back on the right track, and assist you in improving your credit score. A credit score follows you through many stages of your life – such as when you are applying for a loan, applying for a job, and even when you are renting an apartment.
Perhaps it's time to purchase a second family vehicle, or your son or daughter is ready for his/her first car. Or used vehicle loan program allows you to finance that vehicle for less, have lower monthly payments, and automatic payments.
At Credit Union Advantage, we offer 100% financing with repayment terms to meet your budget. Plus, repayment is easy with automatic transfers, through direct deposit or payroll deduction, or make your payments conveniently through online or mobile banking.
Share Secured Loans
Our Share Secure Loan Program works similar to our other secured loans, except the collateral being used is the balance in your savings account. Share Secured Loans are usually available at a much lower interest rate. As your loan decreases, that amount becomes available to you in your share account.
Credit Union Advantage is pleased to offer you Credit Score, which is available to you through Online Banking. We are pleased to offer Credit Score to you at no charge. It will help you understand your current credit health, how to improve it, and where you can potentially save money. The program also monitors your credit report and alerts you if a key change occurs.
Credit Score is a comprehensive program designed to help you stay on top of your credit. You’ll get your credit score, an understanding of the key factors that impact it, and access to special loan and credit card offers that can help you reduce interest costs. With this program, you’ll always know where you stand with your credit and where you can potentially save money.
This program will also monitor your credit report on a daily basis to help you keep an eye out for identity theft. You’ll be informed by email if any big changes are detected – a new account has been opened, a change in address or employment occurs, a delinquency has been reported, or an inquiry has been made.
When you successfully pull your credit score for the first time, you are automatically enrolled into credit monitoring. Your file is scanned daily for key changes, and an alert will be sent to you via email if one of the following key changes are detected:
Click here to log into Online Banking and sign up for this service today. If you have questions, contact the credit union office at 248.996.6070 or click here to view frequently asked questions and answers.
Refinance & Save
Do you have higher-rate loans at other lenders? Are you using credit cards from department stores? Did you know that you could be paying as high as 25% for those credit card balances? Refinance those higher-rate loans and credit cards with a loan from Credit Union Advantage! We'll even take the time to help you determine just how much you can save. Just bring us your paperwork and we’ll compute the difference for you. Wouldn't it be better to keep the extra cash in your pocket rather than paying it out in high interest charges? You could save hundreds of dollars over the term of your loan.
You have found the perfect car and you want it perfect forever!
However, sometimes life happens, and accidents occur. When they do, Credit Union Advantage is here to help with GAP Coverage. Guaranteed Asset Protection (GAP) is an optional program available for your new or used vehicle. Its peace of mind coverage for your pride and joy auto!
This financial protection covers the difference in the balance on a car loan and its declared value, as determined by your primary insurance carrier, in the event that it is damaged beyond repair or stolen and never recovered.