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Locking Down Your First Loan May Not Be As Frightful As You Think!

First Loan Better Banking

By Walter Laskos

For many, the desire to see one’s dreams come true today requires the ability to take out a loan. Whether it’s to secure a diploma to achieve a college degree, buy a new car, renovate part of your home, or increase the size of your business, chances are you will need additional funding, prompting you to shop around not only for the best rates but also for the right kind of loan to meet your specific needs.

Do you know where to turn and what to look for?

In this month’s episode of Better Banking, the discussion will center around loans, for both personal applications and for a business.

Watch May Show Here

We’ll hear executives from Westerly Community Credit Union explain the difference between fixed-rate and variable-rate loans, what’s required in securing a first-time home mortgage and how you might take advantage of certain advantages offered in the lending process to a first-time home buyer.

We’ll also be given an appreciation for business loans and how they can make a difference for a blossoming entrepreneur. Greenwood Credit Union will explain the step-by-step process involved in locking down a business loan to help grow a self-owned company.

While the thought of securing a loan might seem daunting at first glance, we’ll discover that our credit union lending representatives are ready to take applicants by the hand and personally help them each step of the way, not only in maneuvering through the lending process but also in explaining the various parts of the process to ensure the applicant is always in the know.

The May edition of Better Banking also includes a brief explanation of the difference between a credit union and a traditional bank. Have any idea what that difference might be? You may be surprised!

Ellen Ford, president/CEO at People’s Credit Union in Middletown will introduce us to 15 reasons why credit unions are a better banking option for many.

And, Gary Furtado, president/CEO of Navigant Credit Union, will round out the show by introducing us to his financial cooperative, now marking more than 100 years of service to its members and the local community.