Loans
Vehicle Loans
Looking for a New Auto or Already Have One?
The best deal in town is at your favorite credit union – Reliance FCU. Whether you’re looking to purchase a new/used auto or already have one somewhere else, now is the time to buy or refinance! Apply online to get pre-approved. Let us help you keep your hard-earned money in your pocket. Call the Loan Department at (610) 783-5229 x 13 for details.
The ABCs of Auto Loans
Apply for pre-approval before you shop! You'll know exactly how much you can spend, and you'll be able to negotiate the best price. Visit Reliance first, then visit the dealership and shop with confidence. Buy the auto of your choice. Whether it's new or used, Reliance has the financing you need at great low rates. Cruise around in your beautiful new car! Send us a photo to put in our newsletter.
Get the Best Deal
Some common sense is always applicable when looking for a great deal. Always be sure to look at the purchase price, trade-in value, and financing options individually. Many manufacturers may throw one lump sum at you to hide the true value or create an opportunity to pad the purchase price or reduce the value of your trade without your knowledge of it.
Negotiate
Not many people enjoy bargaining with a car dealer for a lower price. Be polite but persistent! Negotiate each cost separately, discuss financing last, and ALWAYS read the fine print.
What Reliance Can Do For You
It's no secret that Reliance offers great rates on auto loans. Usually, your best bet on an auto deal is to select the cash rebate and finance through Reliance. It may save you more money in the long run.
Woop Insurance
Reliance Federal Credit Union has teamed up with Woop Insurance to streamline the process of verifying your insurance coverage, ensuring it meets the terms of your finance agreement.
Be on the lookout for a special invitation from Reliance Federal Credit Union and Woop Insurance. This email will guide you on how to easily verify your insurance coverage through our new system. Completing this verification is a crucial step in ensuring your finance agreement is in full compliance and your assets are adequately protected.
Personal Loans
A personal loan is one that is secured by your signature. Reliance offers you two options for Personal Loans; fixed rate and term; and variable rate.
Fixed Rate Personal Loan
You can borrow the money for up to six years. This longer term makes the payment easily affordable.
Variable Rate Line of Credit
Once approved, you only pay when you draw the money. This loan is convenient because you only apply once.
Automatic Payments
Your payments can be conveniently transferred from your savings or checking automatically by us or through Virtual Branch.
Protecting Your Loan
As with most other Reliance loan products, you can protect your loan payments with low-cost insurance.
Secured Loans
If you’ve got the cash you need for special purposes but don’t want to wipe out your savings, consider a Reliance Federal Credit Union Share or Certificate of Deposit Secured Loan. The funds pledged will continue to earn high returns of dividends along with giving you a great low interest rate on your loan.
Home Equity Loans
The Many Hats of Home Equity
What do you want the equity in your home to do? Chances are, it can do it. Your home equity can wear quite a few hats and work for you in many ways.
The Debt Consolidation Hat
Putting on this hat can help you reduce or eliminate high-interest debt. This is one of the most popular uses for home equity because of two fantastic home equity loan advantages. The first is that home equity loans and lines of credit generally have lower interest rates than other types of loans. That's because the loan is secured by your ownership in the home. Secondly, using a home equity loan or line of credit can give you significant tax advantages. To find out more about these tax benefits, consult your tax advisor.
The Home Improvement Hat
When your home equity wears the "home improvement hat," it gives you a tax-sheltered way of increasing the market value of your home. The best strategy is to plan wise home improvements that actually have the potential of increasing the value of your property. You may want to consult various experts, such as realtors and contractors, to investigate the types of home improvement projects that increase property value. When you use your loan for home improvements or to purchase another home, the tax advantages can be even greater than with home equity loans granted for other purposes. Consult your tax advisor to learn more about these tax savings.
The Education Hat
Using your home equity to increase knowledge is wise indeed. The "education hat" of home equity can let you invest in your future or the future of a loved one by paying for an education. The potential rewards are a brighter future and a better-paying job. In addition, your home equity loan can pay for education expenses when you may not qualify for government education loans.
Home equity can be used to pay for many other things, such as major purchases, vacations, furniture, medical costs, business expenses, and more. If you are considering a home equity loan or line of credit, please call us to learn more. We will help you with the financing option and the hat that fits you.
Visa Credit Cards
Reliance FCU offers you all of the convenience of a Visa Credit Card without all of the expenses.
| Visa Classic | 12.9% on Purchases | 9.9% on Cash Advances | No Annual Fee | 25-Day Grace Period (no interest charges) |
This is our basic card that offers credit limits beginning at $500. This is a great card for individuals who are interested in or only qualify for a smaller credit limit. |
|---|---|---|---|---|---|
| Visa Platinum | 10.9% on Purchases | 9.9% on Cash Advances | No Annual Fee | 25-Day Grace Period (no interest charges) |
Our Visa Platinum Card offers a lower interest rate. Credit limits are available from $5,000. This is a great card for individuals who usually purchase larger items. |
| Secured Visa | 16.9% on Purchases | 9.9% on Cash Advances | No Annual Fee | 25-Day Grace Period | This card is great for members who are just beginning to establish credit or have had past credit problems. The limit is determined by the amount of deposits pledged. |
Pamper yourself by using your Visa ScoreCard Reward Points
Did you know that you can earn Bonus Points for every qualifying net dollar you spend? With Visa ScoreCard Reward Points, you can then turn your purchases into amazing Merchandise, Travel, or Experience rewards! We have top-name brand name items, unbelievable vacation getaways, valuable services, and once in a lifetime experiences. ScoreCard has it all!
We are continually updating our reward options so you'll have the latest and greatest rewards to choose from. So, go ahead, log in, have fun searching the rewards, create your own personal wish list, and most importantly, be sure to visit often.
Automatic Payments
Option #1:
You can make automatic payments on your Reliance Visa bill.
Link to eZCardInfo.com to make a payment from a non-Reliance FCU account.
Option #2:
E-mail us your request for an AutoPay application to make automatic payments from your Reliance FCU accounts. You can pick the amount and the day of the month the payment is taken.
Credit Card Specials
Throughout the year, we run special interest rate promotions, skip-a-payment programs, and much more.
Credit Limit Increase
Contact us to increase your credit limit.
Credit Card Tips To Keep You From Serious Debt
Many people have credit cards, but few understand how easy it is to fall into serious debt. Here are a few basic tips to keep in mind:
Credit cards are not free money. Most credit cards charge interest and/or a fee for letting you use their money. The average rate on a credit card is 18%, and the average annual fee is $30. Reliance's Visa Gold rate is a fixed rate of 10.99% with no usage fees or annual fees.
Always pay more than the minimum monthly payment. If you owe $1,000 at 18% and you pay the minimum payment of $20, you will still owe $995. Three-quarters (3/4) of the minimum monthly payment is interest. Minimum payments will keep you in debt for years. At 18%, it will take you nearly 8 years to pay off $1,000 if you pay only the minimum.
Pay your bill on time. Mail your payment so that it arrives before the due date. Otherwise, you could be hit with a penalty. Reliance offers automatic payments. You can schedule a re-occurring payment or pay your bill online.
Keep a clean credit record. Your credit report is a detailed seven-year history of your credit applications, credit refusals, late payments, and much more. A late payment can reduce your credit score by as much as 70 points. Employers, landlords, lenders, mortgage companies, insurance companies, the IRS, and anyone with a legitimate business reason can check your credit report.
Don't hide if you fall behind on your payments. If you become sick, lose your job, or have some compelling reason for not paying your bills on time, call each creditor and tell them what is happening. They will work with you if you keep them informed. Reliance will help you with special payment arrangements to keep your credit report clean.
cuBIZloan.com
Reliance Federal Credit Union is a member of cuBIZloan.com, a business and commercial loan processing company. Submit a loan request and a business loan specialist will call you to discuss your business financing needs.
We offer an easy pre-qualification process to find a loan product that is right for you!
SBA Loan Products
SBA 7(a) Loans – SBA Standard Business Loan
SBA 504 Loans – Commercial Real Estate
SBA Community Advantage – Underserved Markets
SBA Micro Loans – Small Business Expansion
USDA Loans – Businesses in Agriculture/Rural Markets
Traditional Loan Products
Commercial Real Estate
Multi Family 1-4 Properties
Equipment Loans
Commercial Vehicles
Business Refinance or Buyout
Industrial
Construction & Remodeling
Immediate Loan Products
For businesses that need a quick cash infusion:
Short Term Loans (up to 24 months)
Merchant Cash Advance
Some loans can fund as quickly as 48 hours!
A short-term loan can be coupled with a recovery loan application for eligible borrowers