SCU’s beginnings date back to 1935, when Sacramento County Employees' Credit Union opened in an abandoned church. Throughout the decades it upgraded its offices, and its membership base steadily grew. In the mid-80s it changed its name to Sacramento Credit Union because the service had become more widely available.
The Sacramento Credit Union has some very reasonable rates, as is often the case with credit unions.
It offers up to 84 months for somewhere between 2.74% and 11.18% for a new car.
The wide range of interest rates is due to a dependence on your credit score.
You’ll only take the lowest payment if your credit rating is above 740, which is quite a high score.
You can borrow the full 100% that you require for your vehicle, but this price can’t exceed $100,000.
The various auto loans listed on site can be used as coverage on most cars, vans, and SUVs.
If you’d like to cover a motorcycle, RV, or boat, you must take a different kind of loan.
In order to qualify for membership at Sacramento Credit Union, you must pass one of the following stipulations:
If you’re applying in person, be sure to take the following items with you; your driver's license, a second form of ID, proof of eligibility such as a pay stub, employer ID badge or business card, a document showing your current physical address and at least $30 in cash or cheque.
There are no late payment fees, but a one-time, non-refundable $5 membership fee will be charged when you sign up.
The online process is very simple and shouldn’t take long at all, and your acceptance will happen within the day.
It’s very easy applying for a loan with SCU online, but if you’d like to interact with somebody, you’re also welcome to go into the bank.
If you go into a branch you can use cash or a cheque, but online you’ll have to use a card or bank transfer.
The various rates and offers available at Sacramento Credit Union are very reasonable, and if you live in the area I’d give this lender a big thumbs up.
One downside is that you may not live in the correct zone, and the punishment for poor credit is quite harsh.
If you're looking for a similar lender that you’re able to access and is a little easier on those with a poor credit rating, try Consumer Credit Union, which has some of the best auto loans.
It has similar rates, but they increase less rapidly as your credit score decreases, and it’s available nationwide.
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