The Lockheed Georgia Employees’ Federal Credit Union was established in 1951. In 2008, it became state-chartered and opened its membership to the community. It’s now called LGE Community Credit Union and as of June 2020, it has approximately 117,537 members and around $1.58 billion in assets.
LGE Community CU has varying auto loan terms. The rates are as low as 2.35% and terms are up to 84 months. For motorcycle loans, rates are as low as 4.25% and they’re up to 60-month terms. APRs on boat and RV loans are as low as 4.25% and terms are up to 144 months.
The ideal rating is a Beacon Score of 660 and above.
Financing depends on some factors such as loan types and creditworthiness.
There are loans available for used or new cars, motorcycles, RVs, and boats.
You have to be a member or qualified to be a member of LGE Community CU in order to access its financial services. If you live or work in Bartow, Cherokee, Cobb, Fulton, or Paulding Counties, you can apply for membership. It’s also open to employees of partner groups and families of current members.
You must provide the following when you apply for membership:
There’s a fee for loan payment by phone or via LGE’s website from another financial institution, which is normally $7.25 each. You can avoid paying for this fee if you transfer loan payments using online banking or if you automatically schedule an ACH transfer from your third party accounts. But this fee is waived temporarily.
Also, there’s a fee of $30 each for non-sufficient funds loan payments. Avoid this fee by making sure you have enough funds in your account before scheduling or making a payment. There’s no application fee and prepayment penalties aren’t included in the fee schedule.
It’s not mentioned how long a loan process takes but the credit union promises fast application and approval. You can visit one of its indirect dealerships and complete your loan at once.
You can apply online, call the credit union, visit a branch, or go to an indirect dealership.
Loan payments can be made through automatic transfer from any account via ACH, transfer from your LGE Community CU account, by mail, by phone, online, or in person at any branch.
Members of credit unions like LGE Community enjoy a lot of advantages, such as low auto loan rates and few fees. If you don’t qualify to be a member there, consider joining Consumers Credit Union. It’s available to everyone in the 50 states. It also offers a wide variety of new or used vehicles for loans.
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