At Vibe Credit Union, we don't answer to shareholders and their constant demand for profit. When you bank here, you automatically become an owner. Because we are nonprofit, our rates average 1 to 2% better* than the rates of banks. Often, the difference is even greater which pays off with more money in your pocket.
To illustrate what this difference can mean to you, we compare how a bank and a credit union would finance a 60-month new car loan.
|Loan Amount||Bank**||Credit Union**|
New Car Loan
|Total Interest Paid at a Bank = $3,434.95|
|Total Interest Paid at a Credit Union = $1,978.83|
|Interest Saved Over the Life of the Loan = $1,456.12|
Of course you could! The choice is obvious: Vibe is the financial institution for you. The savings, however, don't stop with car loans. Imagine how quickly the interest savings can add up when you finance your home and personal loans, and credit cards at Vibe. It could represent thousands of dollars per year.
* SNL Financial, Inc. analysis of bank vs. credit union rates from December 2016. Quarterly data can be accessed here.
** Bank and Credit Union example rates are based on national averages as reported by SNL Financial, Inc. from December 2016 data. These rates are provided for comparison purposes. For actual Vibe Credit Union lending rates, please visit our rates page.
|New/Used Auto||1.99% (%tr%span class='xsmall')APR(%tr%/span)|
|Boat/RV Loans||1.99% (%tr%span class='xsmall')APR(%tr%/span)|
|Signature Loans||9.24% (%tr%span class='xsmall')APR(%tr%/span)|
|Visa(sup)®(/sup) Platinum||9.75% (%tr%span class='xsmall')APR(%tr%/span)|
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