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Reaping the Benefits of Lower Interest Rates

August 26, 2024

Reaping the Benefits of Lower Interest Rates: A Game-Changer for Credit Union Members

We’ve got some exciting news that’s sure to put a smile on your face—our credit union has just lowered our consumer loan rates across the board, and that means Auto Loans are now as low as 5.74% effective August 26, 2024! * We’ve also lowered rates on boat, RV, and motorcycle loans, as well as personal loans! All designed to offer you more value and support in achieving your financial goals. But what does this mean for you, and how can you make the most of these new, lower rates? Let’s dive in.

What Lower Interest Rates Mean for You

Lower interest rates on loans are a big win for you as a credit union member. Essentially, it means you’ll pay less over the life of your loan, freeing up more of your hard-earned money for other purposes. Whether you’re in the market for a new car, thinking about upgrading your motorcycle, or considering consolidating existing debt, our reduced rates offer a unique opportunity to save.

Here’s a breakdown of how you can benefit:

1. Lower Monthly Payments: With a reduced interest rate, your monthly loan payments will be smaller, leaving you with more disposable income. Imagine what you could do with that extra cash—whether it’s saving for a rainy day, investing, or treating yourself to something special.
2. More Affordable Large Purchases: Dreaming of a new boat, RV, or perhaps a motorcycle? Lower interest rates make these big-ticket items more affordable. You can now finance your dreams without the burden of higher interest costs, making it easier to hit the open road or enjoy weekends on the water.
3. Debt Consolidation Made Easier: If you’re carrying high-interest debt, our new personal loan rates provide an excellent opportunity to consolidate your debt into one manageable payment. Not only does this simplify your financial life, but it also means you’ll pay less in interest, helping you get out of debt faster.
4. Bring Your Loan to Us: Already have a loan with another financial institution? Now’s the perfect time to consider refinancing with us. By transferring your loan to our credit union, you can take advantage of our lower rates, potentially saving you hundreds or even thousands of dollars over the life of your loan.

Planning for the Future

With the extra savings from lower interest rates, you can start planning for your financial future with confidence. Here are a few ideas on how to put those savings to good use:

1. Build an Emergency Fund: Use the money you save each month to bolster your emergency savings. A well-funded emergency account provides peace of mind, knowing you’re prepared for life’s unexpected expenses.
2. Invest in Your Home: Thinking about home improvements? Lower loan payments free up cash that could be reinvested into your property. Whether it’s a new kitchen, an upgraded bathroom, or adding energy-efficient features, home improvements can increase your home’s value and enhance your quality of life.
3. Boost Your Retirement Savings: Consider increasing your retirement contributions. The sooner you start saving more for retirement, the more you can benefit from compound interest, helping you achieve your long-term financial goals. Our Tennessee Valley Investment Advisors (TVIA) can help you.
4. Plan a Dream Vacation: With lower payments, why not set aside some of that extra money for a well-deserved vacation? Whether it’s a road trip in your newly financed RV or a beach getaway, you can create lasting memories without straining your budget.

Spread the Word and Help Others

We believe that the best way to share the benefits of our lower rates is through word of mouth—and that’s where you come in! If you know friends, family, or acquaintances who could benefit from our competitive loan rates, now is the perfect time to refer them to us. By doing so, you’re not only helping them access fantastic financial products, but you’re also contributing to the growth and success of our credit union.

Referring is easy—just direct them to our website and online application, have them call 423-634-LOAN (5626) or start a video chat through tvfcuLIVE Stream. From there, our team will take care of the rest!

Let’s work together to spread the word we’re excited to see how we can grow together as a community.

*Terms and conditions apply. Effective August 26, 2024.The rates shown is the lowest available rate. Your rate may be higher depending on your credit score. Approval is not based on credit score alone. All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice.

Related Links: 

Auto Rates - https://www.tvfcu.com/services-tools/tools/rates.html#new-cars

Rate Calculator - https://www.tvfcu.com/services-tools/tools/financial-calculators.html 

Plan & Invest - https://www.tvfcu.com/services-tools/Planning-and-Investing.html

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