Electel Cooperative Credit Union Raleigh NC | Low Mortgage Rates & Auto Loans

Introduction

Welcome to Electel Cooperative, your trusted partner in financial wellness located at 3400 Sumner Blvd, Raleigh, NC 27616. Established in 1969, we have proudly served over 7,549 members in our community, providing a wide range of financial services tailored to meet your needs. With total assets of $62,911,546 and total deposits reaching $2,688,512, we are committed to maintaining a solid foundation to support our members' goals. At Electel Cooperative, our mission is simple: to empower you with the financial tools and resources you need for a brighter future. Whether you're looking for personal banking options such as checking and savings accounts or more specialized services like auto loans and mortgage refinancing, our dedicated team is here to guide you every step of the way. Led by our CEO Scott Armstrong and Board President Eddie Durham, we take pride in fostering a welcoming environment where everyone can thrive. While members can visit us at our branch location, official correspondence should be sent to the same address: 3400 Sumner Blvd, Raleigh, NC 27616. With a strong net worth of $8,124,098 and cash reserves of $565,329, we ensure that your finances are managed securely and responsibly. Our commitment to excellence extends beyond just numbers. We believe in building lasting relationships within our community and giving back whenever possible. Join us today and discover how Electel Cooperative can help you achieve your financial dreams! For any questions or assistance, feel free to call us at 800-849-5600 or visit our website at Electel Cooperative. Your journey towards financial empowerment starts here!

Branch History & Mission

Welcome to the heart of our community at Electel Cooperative, where we have been serving the residents of Raleigh, NC since 1969. From our humble beginnings over five decades ago, we have grown into a trusted financial partner for more than 7,500 members. Our branch is located at 3400 Sumner Blvd, a central spot in Raleigh, making it easy for you to reach us and access our services. Our mission is simple yet powerful: to empower our members through accessible financial services while actively supporting the community around us. We believe that everyone deserves a chance to achieve their financial goals, whether it's buying a new car or saving for a home. With total assets exceeding $62 million, we are committed to offering competitive rates and personalized services tailored to your needs. At Electel Cooperative, we pride ourselves on being more than just a credit union; we are a community-driven organization. Over the years, we've established various partnerships that enhance our outreach efforts and support local initiatives. Whether it's sponsoring local events or participating in charity drives, we strive to make a positive impact in Raleigh and beyond. While you can visit us at our branch location for all your banking needs, official correspondence can be sent to the same address: 3400 Sumner Blvd, Raleigh, NC 27616. Our operating hours are designed for your convenience Monday through Tuesday and Thursday through Friday from 8 AM to 5 PM, and Wednesday from 9:30 AM to 5 PM. We understand that today's world is digital. That's why we've invested in online banking solutions and mobile applications that allow you to manage your finances anytime and anywhere. While we currently do not have ATM availability or drive-thru services, our commitment to providing excellent customer service remains unwavering. If you're looking for personal banking options such as checking and savings accounts, auto loans, mortgage refinancing, or even credit cards with rewards, Electel Cooperative is here for you. We invite you to explore the benefits of membership and discover how we can help you achieve your financial dreams. Join us today and become part of a cooperative that truly cares about its members and community! For more information or to open an account, call us at 800-849-5600 or visit our website at Electel Cooperative.

Branch Location & Accessibility

Convenient Access and Parking

We understand that your time is valuable. That's why we've ensured that parking is available right outside our doors, allowing for quick and easy access. Our branch is also designed with accessibility in mind, featuring ADA-compliant entrances and pathways so everyone can visit comfortably. While members can visit us at 3400 Sumner Blvd, official correspondence should be sent to the same address for your convenience.

Get in Touch!

Have questions? Feel free to give us a call at 800-849-5600. We encourage you to come visit us at Electel Cooperative your trusted partner in financial success. We look forward to welcoming you!

Operating Hours Tailored for You

At Electel Cooperative, we strive to accommodate your busy schedule. Our lobby hours are set from 8 AM to 5 PM on Monday, Tuesday, Thursday, and Friday, with a special opening time of 9:30 AM on Wednesdays. We're here to help you manage your finances with ease throughout the week.

Services Designed for Your Needs

We offer a range of services tailored to meet your personal and business banking needs. From checking and savings accounts to auto loans and credit cards with rewards, we've got you covered. While we do not currently have ATM facilities or drive-thru service available at this location, our team is always ready to assist you inside the branch.

Member Eligibility

At Electel Cooperative, we believe that joining our community is about more than just banking it's about being part of something special. Becoming a member is easy and open to anyone who lives, works, or worships in our local area. If you share our values and commitment to supporting one another, you're already on the right path! For specific eligibility details, feel free to check out our guidelines at https://electel.org/join-now/. Getting started is simple; all you need to do is visit us at 3400 Sumner Blvd Raleigh Nc 27616 or give us a call at (800) 849-5600. We're here to help with the account opening process, which you can also find more information about at https://electel.org/apply/. Join us today and experience the benefits of being part of the Electel Cooperative family!

Business Banking & Commercial Services

Merchant Services that Work for You

In addition to loans, we offer merchant services that simplify transactions for your business. Picture this: a busy Saturday morning at your shop, customers lining up, and with just a few taps on your mobile device, you can process payments quickly and efficiently. This means happier customers and more time for you to focus on what you do best running your business. Visit us at 3400 Sumner Blvd Raleigh Nc 27616 in Raleigh, NC, or call us at (800) 849-5600 to learn more about how our business banking services can help you thrive!

Tailored Loan Solutions

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $0 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $0 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses.

Comprehensive List Of Services

ATM & Cash Withdrawal Services

While we don't have ATMs at our branch, we ensure that cash withdrawal services are available through various networks. This way, accessing cash remains simple and convenient wherever you are. At Electel Cooperative, we are committed to providing comprehensive financial services tailored just for you. If you have questions or need assistance selecting the right service, don't hesitate to reach out! Call us at (800) 849-5600, and let us help you achieve your financial goals today!

Auto Loans & Vehicle Financing

Thinking about purchasing a new car? Our Auto Loans & Vehicle Financing options make it easier than ever to drive off in the vehicle you want. We offer competitive rates and flexible terms, ensuring that financing is within reach for everyone. Picture yourself hitting the road in your new ride without the stress of high payments!

Business Banking

If you're running a business, check out our Business Banking services, which include Merchant Services & Business Loans. We understand how crucial it is to have reliable banking support when managing your business finances. Think about how much smoother your operations will run with tailored financial solutions designed specifically for entrepreneurs like you.

Credit Cards with Rewards

For those who enjoy earning benefits while spending, our Credit Cards with Rewards are perfect for you. Earn points on everyday purchases and redeem them for cash back or travel rewards! It's like getting paid for shopping who wouldn't love that?

Mortgage Loans & Refinancing

Owning a home is a big step, and with our Mortgage Loans & Refinancing services, we can help make that dream a reality. Whether you're looking to buy your first home or refinance an existing mortgage for better rates, our team is here to guide you through every step of the process.

Online & Mobile Banking

In today's fast-paced world, convenience is key. That's why we offer robust Online & Mobile Banking features. Access your accounts anytime from anywhere whether you're at home or on the go and manage everything from bill payments to fund transfers right from your smartphone or computer.

Personal Banking

Managing your finances should be simple and straightforward. With our Personal Banking services, you can open Checking & Savings Accounts that fit your lifestyle. Imagine having a dedicated account that helps you save for your dream vacation or a checking account with no monthly fees that keeps your everyday spending hassle-free.

Personal Loans & Debt Consolidation

If you find yourself juggling multiple debts, consider our Personal Loans & Debt Consolidation services. These loans can help simplify your finances by allowing you to combine several debts into one manageable payment. Imagine the peace of mind that comes from having just one monthly payment instead of many!

Digital & Online Banking

At Electel Cooperative, we understand that managing your finances should be simple and secure. That's why we offer a range of digital and online banking services designed to fit your busy lifestyle. With our 24/7 online banking services, you can access your accounts anytime, anywhere, giving you the freedom to handle your finances at your convenience. Our online banking portal at https://electel.org/ makes it easy to check your balance, pay bills, and transfer money between accounts. If you need to send money to friends or family, our person-to-person transfer feature allows you to do just that with ease. Plus, with electronic signature authorization, signing documents is hassle-free and secure. For those who prefer to manage their accounts on the go, our mobile application provides a user-friendly experience right at your fingertips. You can check account balances, view transaction history, and more all from your smartphone. And for members who want to reduce paper clutter, e-statements are available so you can view your statements digitally whenever you need them. While convenience is key, security is equally important. We prioritize your safety with robust measures in place for all online transactions. Whether you're logging into our website or using the mobile app, rest assured that your information is protected. At Electel Cooperative, we believe banking should be accessible and straightforward. With our comprehensive digital services, managing your money has never been easier. Explore what we have to offer by visiting https://electel.org/ today!

Financial Strength

A Growing Community

Total Share and Deposit Accounts: 13,360, showing a strong and growing member base that trusts us with their finances. Net Shares (Funds available for lending and investments): $1,217,309. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Electel Cooperative is your trusted partner. Visit us at 3400 Sumner Blvd Raleigh Nc 27616 or call (800) 849-5600 to learn more about how we can help you achieve your financial goals.

Member-Centric Focus

Members' savings are secured through $9,580,534 in share certificates and $7,017,859 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $193,183, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Reinvestment for Growth

With $6,647,271 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our $-$38,073 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members.

Solid Foundation

With a net worth of $8,124,098, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 12.91% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Supporting Your Financial Goals

Our lending capacity supports your financial goals across various sectors with $758 in used auto loans and $39,484,561 in total loans and leases. We also take pride in having 12 full-time employees and 1 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $13,365,171 in used vehicle loans and $11,207,294 in new vehicle loans already helping members get on the road. We also provide refinancing options to make your payments more manageable.

Credit Lines

For those who prefer flexibility in managing their finances, our credit lines are available up to $6,000,000. This can be an excellent resource for unexpected expenses or larger purchases. At Electel Cooperative, we prioritize transparency and customer service. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. We believe in making lending easy and accessible for everyone in our community. If you're interested in exploring our loan products further or checking eligibility options, feel free to visit our website at Electel Cooperative or reach out directly via phone. Let us help you take the next step toward achieving your financial dreams!

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $7,509,779, make buying or refinancing simple. Whether you're a first-time buyer or looking to refinance your current mortgage, our team can guide you through the process.

Unsecured Credit Cards

We also offer flexible terms on unsecured credit card loans, with a total of $2,213,316 in loans helping members manage their finances effectively. This option allows you to make purchases without putting down collateral while enjoying competitive interest rates.

Loan Aggregator

How LendMesh Ensures Accurate Comparisons

- Verified Data: Loan offers are sourced from legitimate financial institutions. This verification process enhances trust and transparency for users seeking loans. - No Sponsored Listings: LendMesh does not prioritize lenders based on paid promotions. The focus remains on delivering unbiased results, ensuring that users receive genuine comparisons without influence from advertising dollars. - Real-Time Rate Comparisons: By providing up-to-date loan rates from multiple institutions, LendMesh empowers users to make decisions based on the most current information available. Thousands of users trust LendMesh for their loan comparisons. One member shared: "LendMesh helped me find a lower mortgage rate in minutes, saving me thousands over the loan term!" Such testimonials highlight the effectiveness of LendMesh as a reliable tool for navigating the often complex world of loans. Compare real-time loan offers today at LendMesh and find the best rates for your needs. *Disclaimer: Loan approvals and interest rates are subject to creditworthiness, income verification, and applicable federal and state regulations. Rates may vary based on financial institution guidelines.*

ELECTEL COOPERATIVE FEDERAL CREDIT UNION - Raleigh, NC

Compare Loan Rates Near You

Loan rates in Raleigh, NC (27616)