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

[bulldog8934]

With tower: donated 1/16, finalized application morning of 1/17 (thanks for the help!), as of 1/18 application said “referred,” as of 1/20 application still says “referred.”

Tried calling a couple times, huge wait times and no real help. Anyone having better luck? Advice?

 

[funkatation]

I’m in the same boat.

 

[WetzelPretzel]

I submitted application but haven’t donated yet. Should I be donating now or later when they message me?

 

[Bob Marley]

Is there a penalty for paying the car off sooner with Tower?

 

[chek39]

Is there a penalty for paying the car off sooner with Tower?

No. Normally any regular bank doesnt dictates those terms... but many car dealers who does the financing to unknown lenders will have these terms like prepayment penalties

 

[chek39]

With tower: donated 1/16, finalized application morning of 1/17 (thanks for the help!), as of 1/18 application said “referred,” as of 1/20 application still says “referred.”

Tried calling a couple times, huge wait times and no real help. Anyone having better luck? Advice?

looks like tower is swamped by tons of applications.... i don't think they expected like these... blame on Musk
tower FCU is very slow (dead slow compare to any other big name bank) and patience .... but rates are very attractive and really Tower fcu is a good credit union in Maryland

 

[YW555]

I submitted my application for Tower on 1/17 and got conditionally approved on 1/20 morning. APR is 2.240% for 36 months financing.

In order to finalize your approval, please provide the following:

Signed purchased order, including VIN.
Original Notarized Specific Power of Attorney signed by all proposed title holders.
Signed contracts for GAP and Warranties if purchased directly from the dealership or third party.
Financed amount cannot exceed 125% loan to value.
Membership Verification: Complete membership requirements (membership application, copy of ID, etc.).

 

[evannole]

I submitted my application for Tower on 1/17 and got conditionally approved on 1/20 morning. APR is 2.240% for 36 months financing.

The loans are being approved pretty quickly. It's membership approval where they seem to have some backups. I'm going to refinance with them once they get that part cleared up, but will use Tesla financing to take delivery tomorrow.

 

[jose3030]

Applied at Tower.
Haven't heard a peep.

 

[YW555]

POA is power of attorney. I think for them to grant access to your title transferred correctly.....something like that. It was first time I heard about it when doing finance through tower fcu .. you will get esign document i think and you need signatures

How do you get it esigned? The form that have on their website requires a notary to sign it: https://www.towerfcu.org/wp-content/uploads/2016/10/Vehicle-Power-of-Attorney.pdf

Also both Purchase Order and POA form requires vehicle VIN which I don't have yet. But I don't want to wait that long in case the process takes awhile.

Anyone know what "Signed contracts for GAP and Warranties if purchased directly from the dealership or third party." is referring to?

 

[shyboy]

How do you get it esigned? The form that have on their website requires a notary to sign it: https://www.towerfcu.org/wp-content/uploads/2016/10/Vehicle-Power-of-Attorney.pdf

Also both Purchase Order and POA form requires vehicle VIN which I don't have yet. But I don't want to wait that long in case the process takes awhile.

They requested to sent the Original POA

 

[JP 626]

I submitted application but haven’t donated yet. Should I be donating now or later when they message me?

You have to submit an application for the loan as well as application to become a member. To speed up the process, I would make the donation when you apply for membership.

 

[Bob Marley]

Do you submit the loan after being accepted as a member?

 

[funkatation]

How do you get it esigned? The form that have on their website requires a notary to sign it: https://www.towerfcu.org/wp-content/uploads/2016/10/Vehicle-Power-of-Attorney.pdf

Also both Purchase Order and POA form requires vehicle VIN which I don't have yet. But I don't want to wait that long in case the process takes awhile.

Anyone know what "Signed contracts for GAP and Warranties if purchased directly from the dealership or third party." is referring to?

is this the one everyone uses? I haven't heard back from them... still hoping I can use them to take delivery next week.

 

[Larrabeedrill]

Spoke with Tower today.
Current best rates are as follows:
36 months: 1.99%
60 months: 2.99%
72 months: 3.49%
Rates are locked for 30 days but they said there may be a bit of leniency on this depending on delivery date.
We were not members when we applied and got approved, but need to do the $35 donation prior to final approval.

 

[WetzelPretzel]

You have to submit an application for the loan as well as application to become a member. To speed up the process, I would make the donation when you apply for membership.

Ahh good tip - I just donated. Did you open a checking account immediately with them to become a member?

Edit: nevermind - just saw the option for Prime Share which apparently means you pay $5 and stay a member without opening an actual checking account!

 

[NKpenn]

is this the one everyone uses? I haven't heard back from them... still hoping I can use them to take delivery next week.

Just got my loan approved. No need to provide GAP. You can buy it from Tower in the first year of the loan.

 

[funkatation]

Just got my loan approved. No need to provide GAP. You can buy it from Tower in the first year of the loan.

I can’t even get my loan processor on the phone. Been 4 days since approval.

 

[funkatation]

Just got my loan approved. No need to provide GAP. You can buy it from Tower in the first year of the loan.

Is the POA linked above the one you used or did you get a different one?

 

[Cyclone]

I can’t even get my loan processor on the phone. Been 4 days since approval.

I applied Sunday and the app status says "referred" for my share account + checking. I called to check on it and the system said a 22 minute wait. I decided to just wait it out as I don't have a VIN yet, so I'm not in a huge rush.