Lifetime Credit Union is a cooperative established in 1989. For its beginnings, it was known as an “Operative Credit Union.” In 2016 it changed its name but maintained the vision of offering prosperity to all its members.
The mission is that all members who join the company can have the financial stability they desire. They seek to offer users the trust and quality they require from this service.
What can I find with Lifetime Credit Union?
The huge family that makes up Lifetime Credit Union has more than 6000 members. It is a financial institution where pillars are stability and strength to offer everyone the financial goods they require.
Each of its solutions is designed considering the needs of its members. They have high-quality financial solutions and services, including mortgages, loans, and savings plans.
Services offered by the institution
As mentioned before, Lifetime Credit Union offers different services from which you can choose and improve your finances. Some of the most common and most requested are:
Consumer loans
Part of their benefits is consumer loans. They are designed for members who require financial funds to purchase a vehicle, improve their home, and buy computers, furniture, and appliances, among other items.
You can also use them for personal or business travel, medical expenses, education expenses, debt consolidation, and more.
Seasonal Loans
The seasonal loan is designed for members who require extra money for specific times of the year. For example, the summer loan could have a $25,000.00 limit for travel and vacations.
You can also use it for hurricane preparedness, back-to-school expenses, home renovations, vehicle repairs, or other requirements. The same traditional criteria for normal loans apply to these applications.
Line of Credit
A line of credit is your best ally when you need extra cash regularly. With a line of credit loans, there is no need to complete loan applications to access additional funds.
As the outstanding balance decreases, additional funds are offered up to the maximum limit of your LOC.
Mortgage Loans
With Lifetime Credit Union, it is possible to obtain 100% financing with attractive interest rates and a term of up to 30 years to repay. There are no negotiation or commitment fees and limited processing fees.
It has become a great alternative to achieving the goal of owning a home or buying the land where it will be built.
Savings Plans
The need to set aside funds is understandable, and Life credit union wants to help you achieve the maximum savings possible. They can find the best savings account that fits your needs and wants.
You can get competitive interest rates and no minimum deposit amount. They have standard savings plans, a premier savings plan, and an education savings plan available.
Each one fits different needs, but the goal is the same: to have enough savings to achieve a goal.
Savings and investments
In this case, a regular deposit account is ideal for saving to reach a financial goal. The interest on these accounts is paid quarterly and is calculated daily to achieve faster investment growth.
On the other hand, term deposit accounts are ideal if you have a sum of money you do not need to use. You can assign a fixed period and set aside the sum to get competitive interest rates.
They also have the premier savings plan with above-average interest rates. It is designed to achieve a specific financial goal within a fixed period. You need to determine the amount you want to save and put a plan in place for it.
Vehicle loans
Of course, you can’t miss the vehicle loans to acquire the one you want at the estimated time. Their interesting offerings have 100% financing, flexible repayments, low rates up to 4.95%, and funding for electric vehicles or new and used cars.
Junior Savings
Saving for children is essential and will never be “too early.” With the Junior Savings account, the mission is for parents to start saving for their children 16 years of age or younger.
It does not require a minimum deposit to open and is a plan that will benefit you in teaching your children the importance of saving. It is also an alternative to offering children the financial support they will need for their studies.
Although it has a slightly higher interest rate, it is a good way to ensure the child’s quality of life in financial terms.