Loc Credit Union Dearborn MI | Best Auto Loans & Checking Accounts

Introduction

Welcome to Loc, your trusted financial partner since 1935! Located at 6246 Chase Rd, Dearborn, MI 48126, we have proudly served our community for nearly nine decades, fostering a spirit of trust and reliability. With over 27,830 members and total assets of $444,377,926, we are committed to providing you with exceptional banking services tailored to meet your needs. At Loc, we understand the importance of personal relationships in banking. Our dedicated team, led by CEO Stephen Grech and Board President Michael Lasley, is here to help you navigate your financial journey. Whether you're looking for a new auto loan or planning for your future with our savings accounts, we aim to support you every step of the way. While members can visit us at our branch on Chase Road, official correspondence should be sent to PO Box 885, Dearborn, MI 48121-0885. We take pride in our financial strength with a net worth of $41,642,547 and total deposits amounting to $23,172,995. Our focus is not just on numbers; it's about how we can better serve you and our community. We offer a variety of services including personal banking, auto loans, mortgage loans, and business banking solutions. Plus, with features like online and mobile banking along with ATM access available for your convenience, managing your finances has never been easier. Join us today and experience the difference that comes from being part of a credit union that truly cares about its members. Call us at 313-581-2002 or visit our website at loccreditunion.com to learn more about how we can assist you!

Branch History & Mission

Welcome to Loc in Dearborn, MI! Since our opening in 1935, we have been dedicated to serving our community with a commitment to providing exceptional financial services and support. Over the years, we have grown alongside our members, reaching a remarkable total membership of 27,830. Our journey began with a vision to empower individuals and families by offering affordable banking solutions, and that vision continues to guide us today. Located at 6246 Chase Rd Dearborn Mi 48126, right in the heart of Dearborn, we are easily accessible to all our members. While you can visit us here for all your banking needs, please note that official correspondence should be sent to PO Box 885, Dearborn, MI 48121-0885 if it differs from our branch address. Our mission is simple yet powerful: to enhance the financial well-being of our members while contributing positively to the communities we serve. We believe that everyone deserves access to quality financial services without barriers. That's why we offer a wide range of products tailored for personal banking, including checking and savings accounts, auto loans, mortgages, and credit cards with rewards. We also support local businesses through merchant services and business loans. As part of our commitment to modern banking practices, we have embraced various digital advancements. Members can enjoy convenient online and mobile banking options, making it easier than ever to manage finances on the go. We also prioritize accessibility; our facilities comply with ADA standards so everyone can benefit from our services. Throughout the years, we have established strong partnerships within the community, allowing us to participate in outreach efforts that uplift those around us. Whether it's through financial literacy programs or supporting local events, we strive to make a lasting impact beyond just banking. At Loc, we're proud of what we've achieved together with our members. As we continue this journey into the future, we invite you to join us! Experience the benefits of being part of a cooperative where your voice matters and where your financial goals are our top priority. Come visit us today or contact us at (313) 581-2002 to learn more about how we can support you on your financial journey!

Branch Location & Accessibility

Operating Hours

At Loc, we want to make your banking experience as smooth as possible. Our doors are open Monday through Thursday from 9:00 AM to 5:00 PM and on Friday from 9:00 AM to 6:00 PM. We encourage you to come in during these hours when our dedicated staff is ready to assist you with anything you need.

Parking and Accessibility

We understand that convenience matters. Our branch offers ample parking space, ensuring you won't have any trouble finding a spot during your visit. Plus, we are committed to accessibility, with ADA-compliant features like ramps and designated entrances so everyone can bank comfortably.

Services Offered

We're proud to offer a variety of services tailored just for you! From checking and savings accounts to auto loans, mortgages, personal loans, and credit cards with rewards there's something for everyone at our branch. If you prefer banking on the go, take advantage of our online and mobile banking services as well. For added convenience, we also provide ATM access for quick withdrawals and balance checks. While we don't have a drive-thru service at this location, our team is always ready to assist you inside.

Visit Us Today!

With all these amenities and services designed for your ease and comfort, why not stop by today? If you have any questions or need assistance before your visit, feel free to call us at (313) 581-2002. We look forward to welcoming you at Loc!

Member Eligibility

At Loc, we believe that everyone deserves a chance to be part of a caring community that puts members first. If you're looking to join us, it's easier than you might think! Membership is open to anyone who lives, works, worships, or attends school in our local area. This means you can enjoy all the benefits we offer like competitive rates on loans and savings accounts, personalized service, and access to a range of financial products tailored just for you. To learn more about the specific eligibility requirements, feel free to visit our website at . Once you're ready to become a member, opening an account is straightforward! Just give us a call at (313) 581-2002 or check out our account opening details online at http://app.loanspq.com/vl/vehicleloan.aspx?lenderref=locfcu061019. We can't wait to welcome you into the Loc family at our branch located at 6246 Chase Rd Dearborn Mi 48126! Your journey toward financial wellness starts here with us.

Business Banking & Commercial Services

Business Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We also support the broader business community with $35 in non-member commercial loans, providing flexible financing solutions. Imagine a local bakery wanting to renovate and increase production. With our commercial loans, they can transform their space and serve more customers. From purchasing new equipment to expanding storefronts, our loans can help turn plans into reality.

Merchant Services

But it's not just about loans. Our merchant services make daily transactions easier and more efficient. Picture a retail shop owner who needs a reliable way to accept credit cards. With our payment processing solutions, they can focus on what they do best serving customers while knowing their sales are handled smoothly. Located at 6246 Chase Rd Dearborn Mi 48126 in Dearborn, MI, we invite you to explore how our business banking and commercial services can fuel your success. Contact us at (313) 581-2002 or visit us online at our website to learn more!

Comprehensive List Of Services

Business Banking Solutions

For our business members, we understand that running a company comes with its own set of challenges. That's why we offer business banking services including merchant services and business loans designed to help your business thrive. Whether you need funds for expansion or day-to-day operations, we're here to support your success.

Call Us Today!

At Loc, we pride ourselves on being more than just a financial institution; we're part of the community. If you have questions about any of our services or want to learn more about how we can help you achieve your financial goals, don't hesitate to reach out! Give us a call at (313) 581-2002 or visit us at Chase Road for more information. We look forward to serving you!

Convenient Online & Mobile Banking

In today's fast-paced world, convenience is key. That's why we have invested in online and mobile banking features that allow you to manage your finances anytime, anywhere. With secure access through our mobile app, you can check balances, transfer money, and even pay bills with just a few taps on your phone. And don't forget about our ATM services that give you easy access to cash whenever you need it.

Personal Banking Services

When it comes to personal banking, we offer checking and savings accounts tailored to fit your lifestyle. Whether you're saving for a special occasion or managing daily expenses, our accounts are designed with you in mind. Need a new car? Our auto loans and vehicle financing options make it easy to get behind the wheel without breaking the bank. We also provide mortgage loans and refinancing solutions for those looking to buy a home or lower their monthly payments. If you're facing unexpected expenses or planning a big purchase, our personal loans can help consolidate debt or fund your dreams. Plus, our credit cards come with rewards that let you earn as you spend, making every purchase more rewarding.

Digital & Online Banking

Key Services

Our online banking platform provides you with a user-friendly experience. You can easily check your account balances, transfer funds, and pay bills all from the comfort of your home or on the go. If you prefer using your smartphone, our mobile application is available for download, making it even simpler to stay on top of your finances wherever life takes you. One of the standout features is our person-to-person transfer option. This lets you send money quickly to friends or family without any hassle. Plus, with electronic signature authorization, signing documents is straightforward and secure no need for paper forms!

Security and Accessibility

We prioritize your security while ensuring ease of use. Our systems are designed to protect your information while providing real-time account management. You can also sign up for e-statements, which not only save trees but also allow you to access your statements anytime without waiting for them in the mail. With mobile payments enabled, paying for goods and services has never been easier. Just link your accounts and make purchases directly from your phone. Whether you're at the store or dining out, quick payments are just a tap away. In summary, at Loc, we strive to empower our members with convenient digital tools that enhance their banking experience while keeping their information safe and secure. Join us today at https://www.loccreditunion.com/ to discover how easy managing your money can be!

Financial Strength

Growing Member Base

Total Share and Deposit Accounts: 60,307, showing a strong and growing member base that trusts us with their finances. With net shares available for lending and investments at $0, we are well-equipped to support the needs of our community. In conclusion, our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Loc is your trusted partner. Visit us at 6246 Chase Rd Dearborn Mi 48126 or call (313) 581-2002 to learn more about how we can help you achieve your financial goals.

Investments in Your Future

With $37,436,692 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity is robust with $4,129 in used auto loans and $252,675,531 in total loans and leases, supporting your financial goals across various sectors.

Member-Centric Savings Solutions

Members' savings are secured through $49,131,293 in share certificates and $82,327,865 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Operational Efficiency

Our operational efficiency is reflected in our $0, which enables us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 86 full-time employees and 9 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Strong Financial Position

With a net worth of $41,642,547, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of $936 demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $57,678,260 in used vehicle loans and $19,261,743 in new vehicle loans already helping members get on the road. Whether you're interested in financing a new or used vehicle, our straightforward application process makes it easy to get started.

Credit Lines and Refinancing Options

In addition to our standard loan offerings, we also provide access to credit lines totaling $40,000,000. This flexibility allows you to borrow as needed while only paying interest on what you use. If you're considering refinancing existing loans, we can help evaluate your options to potentially save you money. At Loc, our commitment is to serve our community by providing reliable lending solutions designed for your financial success. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. If you're ready to explore how our loan products can work for you, visit us today!

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $49,908,432, make buying or refinancing simple. We aim to provide competitive rates and flexible terms that fit your lifestyle.

Unsecured Credit Card Loans

Managing day-to-day expenses is easier with our flexible unsecured credit card loans. With a total of $4,020,097 in loans helping members manage their finances effectively, these cards come with great rewards and no hidden fees.

Loan Aggregator

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Ensuring Accurate Loan Comparisons

Loan data on LendMesh is sourced directly from banks and credit unions that comply with National Credit Union Administration (NCUA) lending standards, based on the latest results (Source: https://www.ncua.gov), ensuring fair and transparent offers. This commitment to sourcing accurate information guarantees that users receive trustworthy loan options tailored to their needs.

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