Are you looking for a credit Union where you can invest money? If you answered yes, then the information contained in this article is for you. In this article, I am going to discuss a little bit about LTCU (LLC). I hope you find this information useful.
A little background information first; since my last article about the Lenco Credit Union, there has been a couple of changes. The main one is that the address listing in their web site has been changed to Bloomington, IL. This new address is: Bloomington University Medical Center, Suite 400 East Washington Street, Suite # 401, Bloomington, IL 60006. The main branch of the LTCU is located at the northwest corner of the mall, near the baggage claim area and near the escalators. The Lenco Credit Union is now branching out into other locations all over the state of Illinois including the suburbs of Joliet, Hoffman Estates, Norridge, Crystal City, and Westchester. There are also other locations in the Washington DC area such as Rockville, MD and Wheaton, IL.
Since I have been doing a lot of research on credit unions (especially international credit unions) and recently traveled to the greater Los Angeles area, I’ve also been involved with researching credit unions. A brief overview: credit unions are organized communities of consumers that pool their resources together to purchase and resell loans, services and commodities. Many people are members of these types of organizations because they enjoy the benefits of having lower interest rates, more flexible terms, and better credit histories.
So why should you join a Lenco Credit Union? Well, I can tell you three reasons: low interest rates, financial stability, and customer service. If you’re like most Americans, you pay too much interest every month on your credit cards, department store cards, car loans, etc. By joining a credit union, you will be given the opportunity to pool your resources together to buy goods or services at a better price. These kinds of purchases are what help our economy grow. By purchasing items at a better price from smaller local businesses, you are actually creating jobs for local residents in the areas where you live!
Credit unions are also good places to go if you have bad credit history. Even if you haven’t had credit issues in the past, you can still get approved for a credit card. They are one of the only institutions that will offer you a credit card if you have not had a history of financial problems. This is a great opportunity for people with past credit issues to get back on their feet!
Credit unions have their own billing department so you will never be charged more than what you would pay by going with a major credit card. Unlike regular banks, credit unions don’t charge over the limit fees, over-the-limit fees, late fees, etc. Instead, these fees are placed into the members’ monthly or yearly fees. This is very beneficial because you won’t be paying out more money than you should. You also won’t have to deal with annoying late fees and other fees. As an example, with most credit cards, you’ll be charged a fee every time you use your credit card, whereas with a credit union, this fee will only apply to the first $100 used in a month.
Credit unions have their own payment system. They make certain that all members are paid their due, no matter when they went missing. Also, members are required to contribute a certain percentage of their gross monthly income to the union in order to receive their credit card. This percentage is determined beforehand by each member’s gross monthly income and is then distributed equally among all members. If a member does not pay his or her portion, the money he or she is owes is then distributed to the other members according to their respective monthly income.
Most credit unions have a wide variety of credit cards to choose from. A quick search online can yield you a list of credit unions with the most attractive credit card offers. The best part about joining a credit union is that you will receive an account with a favorable interest rate, even if you do happen to have bad credit. To learn more about finding the right credit card for your needs, contact a local credit card company today.