The credit union is a co-op organization that provides financial services to its members. A credit union offers their members lower interest rates on loans and higher interest rates on savings accounts.

Credit unions offer lower interest rates than banks and most other lenders. A credit union is a cooperative financial institution that provides banking products such as savings accounts, checking accounts, and loans. They also provide personal and residential mortgages. Credit unions are owned by their members which may be an individual or a group of individuals such as employees, students, or members of a geographic area like a city or county.

Many people mistakenly believe that the only way to get a lower rate on their auto loan is to refinance with a bank. However, many credit unions will beat not just the bank's rate, but the dealer’s rate as well. All you need to do is ask and then compare before signing any documents.

If you think, you’re paying more interest rates for your auto loan, You can refinance your existing loan with credit unions who offers less than what your paying so that you can save $$$.

There are three ways to go about joining: if you already have a bank account with your employer's credit union; by finding your local credit union; by finding your nearest college's student-run credit union (credit unions for colleges must be approved by the National Credit Union Association).

The Consumer Financial Protection Bureau is a consumer protection agency with a specific focus on the financial industry. They have released a study on how credit union auto loans compare to bank auto loans. The findings show that credit unions offer lower interest rates and more affordable loan terms then banks.

There are many benefits to getting an auto loan from a credit union rather than from a bank. Credit unions offer better interest rates and more flexible payment options, for example.