Credit Unions with good rates that accept applicants anywhere within the US?

[Cyclone]

Do you have physically mail Tower the notarized POA or can you just take a picture and upload it on their portal?

I’ve not had success getting anything to upload on their portal. It complains to use PDF version 1.4 for ACH Authorization. But I’m not uploading an ACH Authorization PDF nor using the wrong version. I ended up just faxing it to them.

Edit to add: I’m referring to uploads for the loan. Uploads for the membership app were flawless.

 

[StoXto3toY]

I’ve not had success getting anything to upload on their portal. It complains to use PDF version 1.4 for ACH Authorization. But I’m not uploading an ACH Authorization PDF nor using the wrong version. I ended up just faxing it to them.

Edit to add: I’m referring to uploads for the loan. Uploads for the membership app were flawless.

Have had same PDF error, the quick fix is to open the PDF in whatever app is default for you, then "print to pdf" and it will generate a version acceptable to their system.

 

[chek39]

My refinance is completed from Tower. It took me 15 days. Day before yesterday Tower might have sent the check to Tesla finance

I got the finance through Tesla Finance (Yes. Tesla finance and not other banks) and I was able to generate the payoff statement in the Tesla App.
I still sent email to Tesla finance to get the Payoff statement. I got response that, since I generate the Payoff statement and it will be same and specifically responded in email that they accept only wire transfer and provided me their routing details.
When Tower about to approve my refinance, I told them about the wire transfer and Tower responded they never send through wire transfer and only checks and they told me that they sent many checks to Tesla recently.
I hope it works out.. I do see my loan details at Tower but still showing full amount at Tesla. My payoff is good through Feb 16th
Any one recently refinance with your own bank that sent payoff to Tesla finance ? is that through check or wire transfer ?

 

[jombolo]

Loan approval good for 30 days, but if you need an extension, call them. Can extend to 60 days max.

This statement matches closely with what one of their reps told me over the phone as well...hopefully it holds true when it comes time to get that extension

 

[chek39]

folks who applied at tower, and waiting for your loan to approved (issuing a check) do these things (assuming, you became member, applied auto loan, a loan application number is issued, and all the documentation is uploaded)
1. call Tower member services and find out your loan processor 4 digit extension
2. Call the that extension and leave a voice mail. (try this very early like around 9am to 9.15am (EST)
3. With high probability, your loan officer takes the call and ask about your loan (refer your application number)
4. if every document is uploaded (you can indicate with the loan officer), you loan will be approved in next one hr or so (you get document to esign)

One of my friend told me this, and even though my application is pre approved from Jan 24th, and it is sitting with loan officer where loan officer is completely overwhelmed with tons of application from all over US.. I left couple of messages on 4th or 5th but on feb 7th at 9.05am i was able to connect with my loan officer and by afternoon everything completed... All i said was, please look at my application and I uploaded all documents. Loan officer said, "ok. I am sending to final underwriter review".

good luck

 

[tsn80]

folks who applied at tower, and waiting for your loan to approved (issuing a check) do these things (assuming, you became member, applied auto loan, a loan application number is issued, and all the documentation is uploaded)
1. call Tower member services and find out your loan processor 4 digit extension
2. Call the that extension and leave a voice mail. (try this very early like around 9am to 9.15am (EST)
3. With high probability, your loan officer takes the call and ask about your loan (refer your application number)
4. if every document is uploaded (you can indicate with the loan officer), you loan will be approved in next one hr or so (you get document to esign)

One of my friend told me this, and even though my application is pre approved from Jan 24th, and it is sitting with loan officer where loan officer is completely overwhelmed with tons of application from all over US.. I left couple of messages on 4th or 5th but on feb 7th at 9.05am i was able to connect with my loan officer and by afternoon everything completed... All i said was, please look at my application and I uploaded all documents. Loan officer said, "ok. I am sending to final underwriter review".

good luck

I did exactly this day after i got membership approval with loan pending and had a great informative rep who gave me the processors extension. Within minutes the processor reached out through tower message center and sent my esign documents, signed them, got check paid to tesla sent out to me overnight with tracking and should arrive tomorrow, seems like they understand our predicament and sending checks out asap once everything fulfilled

 

[onvacayfaraway]

Just got off the phone with Tower loan officer. Some helpful updates.

POA form can be uploaded on their portal but original still need to be mailed

Membership, they’re currently processing application from 1/26.

Loan approval good for 30 days, but if you need an extension, call them. Can extend to 60 days max.

Autopay required for that rate you see online, but it can be from any bank. Doesn’t have to be with Tower

For those of you who have been waiting to near EDD to submit loan application for Tower. Sorry to be the bearer of bad news. As expected, Tower increased their rates. Per their website.

36 mth. 5.74%
60 mth. 6.49%
72 mth. 6.99%

 

[Diamond_Dogs23]

Looks like Tower FCU has had enough of the low rates. They have gone way up. Can't lose anymore money I guess .

New Cars and Trucks
Term (in months)	APR% (as low as)	Monthly Payment (per $1,000 borrowed)
36	5.74	$30.30
48	6.49	$23.71
60	6.49	$19.56
72	6.99	$17.04
84	8.74	$15.96

 

[jombolo]

For those of you who have been waiting to near EDD to submit loan application for Tower. Sorry to be the bearer of bad news. As expected, Tower increased their rates. Per their website.

36 mth. 5.74%
60 mth. 6.49%
72 mth. 6.99%

OUCH! i just hope they will hold 3.49% for those of us who might need an extension

 

[craaaazzy]

Oh well, guess I’ll just use my own CU. I should probably start that process as they haven’t raised their rates yet.

 

[jombolo]

Oh well, guess I’ll just use my own CU. I should probably start that process as they haven’t raised their rates yet.

Not sure what your local CU is offering, but Tenet Financing is offering 5.3%/72 months which is slightly better than Tesla's rate.

 

[onvacayfaraway]

Not sure what your local CU is offering, but Tenet Financing is offering 5.3%/72 months which is slightly better than Tesla's rate.

Adelfi
4.25% 36-60mth
4.65% 72mth

 

[Netzero71]

I Just used Adelfi, it was easy , quick and paid Tesla through a wire transfer. Start to end 8-9 days. Rate 4.25% and I got approved the day the feds increased tax rates.

 

[Macb00kemdanno]

So glad I went with Adelfi. I got preapproved at 3.85% for 60 months last week and submitted all my documents. No need for all the power of attorney bull**** and runaround that Tower gives you. Just waiting on the final loan docs to docusign, which should arrive tomorrow.

Had I waited on the Tower application (as long as they take), I would have been screwed.

 

[WAZR]

can anyone share a smaple format for power of attorney bull that Tower requires. I was asked for one today

 

[Macb00kemdanno]

can anyone share a smaple format for power of attorney bull that Tower requires. I was asked for one today

Vehicle Power of Attorney Authorization - Tower Federal Credit Union

Vehicle Power of Attorney Authorization.

www.towerfcu.org

 

[YW555]

Safe to say that if you got pre-approved then the rate is going to be good for 30 days correct?

 

[pika751106]

will they honor the rate if the application is pending?

 

[scSeattle]

will they honor the rate if the application is pending?

Yes. At the time of applying the rate given is locked

 

[Flynnaz]

For those of you who have been waiting to near EDD to submit loan application for Tower. Sorry to be the bearer of bad news. As expected, Tower increased their rates. Per their website.

36 mth. 5.74%
60 mth. 6.49%
72 mth. 6.99%

Tesla is still at 5.44%, I got 5.34% when it said 5.44% on their website, approved in 10mins. Super easy did not need to play games with Tower, still waiting on membership since 27th, no thanks. You can always refinance later anyways.