If you are looking for a lender who can offer you personalized assistance and has an outstanding reputation, look no further than Financial One Credit Union. Local lenders can provide you with better rates and better service than national and online lenders. Take a look our top nine reasons to pick a local lender:
1. Develop a Relationship
Don’t be just another number in the system. Choosing a local lender that is a member of the community gives you the opportunity to develop a real relationship with your money-managing institution. With a local lender, you will have someone advocating for you that understands the history, members, and potential of the community.
2. You Can Trust Your Local Lender
Especially with online lenders, there is a great risk of fraud, scams, and illegal business practices. Establishing a relationship built on trust and reliability will create a partnership that you would not receive from an online national lender. That trust and reliability will go a far way in ensuring a successful lending process.
3. Get Reliable References.
From previous lenders to community partners, your local lender will be able to obtain personal testimonials for your consideration. With trusted references, you will have a sound mind knowing that your local lender has successfully helped other members of your community, not just nameless faces.
4. They Get to Know You Personally
There are a variety of benefits that come with getting to know your lender personally. For starters, they know how to cater to your personal needs. They can also give you advice that pertains to your personal situation as well as prevent you from making financial mistakes. Local lenders can establish a personal repertoire and offer you superior customer service.
5. Local Lenders Know the Rules
Local lenders in your state will know all of the regulations, rules, standards, and everything else involved in the process of procuring a mortgage. This can make the process go much more smoothly since they know what they are doing not just in reference to everyday banking, but specific to your community.
6. Local Lenders Cause Less Stress.
With the assurance of a trusted and professional local lender, you can rest easy knowing that they will take care of all your questions and concerns personally. Having a relationship with your local lender will alleviate much of the uncertainty and stress that coincides with getting a mortgage, auto loan, student loan, and a variety of other financial transactions.
7. They Can Get You A Better Deal
In advocating on your behalf, local lenders will often shop around for a variety of different lenders and loan programs to find the best deal. This can help you save money and enjoy the most appropriate plan for your needs.
8. Benefit From Immediate Help
Rather than wait for email responses or be put on hold with 1-800 numbers, local lenders can provide immediate help. They will also be less likely to misinterpret your questions, and be better able to provide immediate answers to your concerns. Quick responses can also help you close deals rather than waiting and potentially losing out on special offers.
9. They Care
When you work with a local lender, their work doesn’t stop at the application. Local lenders will personally follow-up on your process during and after to ensure you are receiving what you want.
For anyone in the process of lending, we recommend that you understand the importance of selecting the right lender. Find a knowledgeable and experienced lender that can cater to your needs. Credit unions like Financial One are not for profit, we’re for you and we’re for our community. For more information on our loan process, visit Personal Loans page at Financial One Credit Union.