The Ultimate Loan: Powerhouse Loan
The Auto Loan That’s Miles Ahead of Others
The Powerhouse loan, a unique loan provided by GEMC FCU, offers the
benefits of low car rates combined with possible tax benefits. It’s easy, and
there’s no better deal in town!
Here’s how it works:
- You utilize the equity in your home, but unlike real estate loans, there is
no appraisal cost, no title search, and no closing costs.
- Complete the regular loan application and submit it with the necessary
documents.
- After approval, you receive a line of credit. This LOC can be used for
multiple vehicle purchases for up to 10 years!
Powerhouse loans are packed with benefits:
- Tax deduction
If you own your home and itemize your tax return, you could save 2-3%
off our already low car loan rates. For example, if you qualify for our
5.50% auto loan and you fall in the 28% tax bracket, the effective rate on
your loan will be 3.96%!!!! Be sure you consult with your tax advisor
for eligibility.
- Easy and quick
No appraisal, No title search, and NO fees.
- Low rates
Benefit from the already low CU rates on new and used cars, currently as
low as 5.50% APR*.
- Flexibility
This loan is not a second mortgage and doesn’t count against a home
equity line.
*Rates as of 1/1/06 APR=Annual Percentage Rate. Rate subject to credit worthiness and approval of loan.
Special 5.50% APR rate for a limited time only. Other conditions may apply
President’s Letter
Dear Credit Union Member:
The new year has begun, and it’s time to make our New Year’s resolutions. For many people, the new year is a time for setting financial goals for the coming year and beyond. At GEMC FCU, we believe it is our mission to help you establish a plan and make it easier for you to stick with it. That’s why we offer a wide variety savings options to help you regardless of what stage of life you are in or how well you have succeed with your efforts to save in the past.
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