Crushing Debt: Snowball vs. Avalanche Method

Getting rid of debt isn’t easy, but if you’re ready to do what it takes, you can shake off any amount of debt.

Let’s take a look at two popular approaches for paying down debt and explore the pros and cons of each.

 

The Debt Snowball Method

This approach involves focusing on paying off the smallest debt first and then working on the next-smallest debt until it’s all paid off.

Say you’ve squeezed an extra $500 out of your budget to channel toward paying down debt, and you have the following debts:

$2,500 personal loan at 9.5% interest; minimum payment $50

$10,000 car loan at 3% interest; minimum payment $200

$13,000 credit card debt at 18.99% interest; minimum payment $225

$18,000 student loan at 4.5% interest; minimum payment $300

In this scenario, the snowball method would have you paying just the minimum payment on all debts except the smallest one. You’d put your extra $500 toward paying off the personal loan. Once that’s paid off, you’d take the $550 you were paying toward the personal loan and add it to the $200 you’re paying for the car loan. Keep doing this until you’ve kissed all your debts goodbye!

Pros of the Debt Snowball Method

The most significant draw of the debt snowball method is that it works with behavior modification. Success breeds success, and the small but quick wins are excellent motivators.

Cons of the Debt Snowball Method

The primary disadvantage of the debt snowball method is its indifference toward interest rates. Paying off the smallest debt first can mean holding onto the debt having the highest interest rate the longest. This translates into paying more in overall interest throughout the journey to a debt-free life, sometimes to the tune of several thousands of dollars.

The Debt Avalanche Method

This approach involves getting rid of the debt with the largest interest rate first and then continuing to the one with the next highest interest rate. This enables the debt-payer to shed heavy interest rates quicker and to put more of their money toward the principal of their loans.

In the scenario above, the debt avalanche method would involve paying down the credit card debt first, followed by the personal loan, student loan, and finally, the car loan.

Pros of the Debt Avalanche Method

Paying off the debt with the highest interest rate first can save hundreds, and sometimes thousands, of dollars in interest. Also, in most cases, this route will be shorter than the snowball method.

Cons of the Debt Avalanche Method

The debt avalanche requires self-motivation and continued momentum despite little initial progress.

Which method is right for you?

If you think you’d need early motivation to keep going, you may want to choose the debt snowball method. Is your chief concern paying as little as possible? Then you might want to go with the avalanche method. If you’re serious about tackling your debt, either method can work.

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Like us on Facebook!

10 Myths About Credit Unions

Did you know more than 112 million Americans use credit unions? While credit unions continue to gain popularity, persistent myths prevent some people from making the switch. Here’s a look at the ten most common misconceptions and the answers that debunk them

How much do you know about credit unions? Test yourself on these 10 myths:

Myth #1: You must meet strict eligibility requirements.

Fact: While credit unions do require that members meet certain requirements to satisfy a common bond, many of these are broad, and few of them truly limit membership.

There are many ways to qualify for membership with AGCU.

Myth #2: Getting to the ATM is difficult because my branch isn’t nearby.

Fact: With over 5000 Shared Branches and 30,000 free ATMs available, availability is not an issue.  In fact, credit unions offer more ATM access than most of the biggest national banks. Click here to find a location near you!

Myth #3: Changing my banking from a traditional bank to AGCU will be a hassle.

Fact: AGCU offers the same services as banks, including automatic bill payments and direct deposit. Most services will transition easily and go uninterrupted.

Myth #4: With all the fancy advertising, banks must have more money than credit unions.

Fact: While this may be true, it’s because credit unions are not-for-profit organizations. Rather than spend money on advertising and marketing, credit unions rely on the community for marketing. The money saved is rolled back into services for members or distributed back to members as dividends.

Myth #5: Credit unions don’t offer reward programs.

Fact: Many credit unions do offer reward programs on credit and debit cards. Do the research and be sure to take a look at the fees that are associated with the various accounts, even those offering rewards. At a credit union, you’ll save on fees. Do your bank rewards outweigh the fees you’re paying on each account?

Myth #6: Credit unions aren’t very tech-savvy.

Fact: AGCU doesn’t promote mobile options as aggressively as banks, but that doesn’t mean we don’t offer them. According to a study by CFI Group, bank customers rated their satisfaction at 86 out of 100 in online and mobile banking versus 90 out of 100 among credit union members.

Myth #7: Credit unions are just like banks.

Fact: Credit unions are not just like banks. Members own a piece of the organization and own a vote in determining how the credit union is managed. AGCU also returns more earnings back to members with our low fees and great dividend rates.

The more you use AGCU for your day-to-day banking needs, the more you help support worthy causes – both locally and worldwide. We donate 10% of our annual earnings to support churches and ministries, educational scholarships and programs, and humanitarian efforts.

Myth #8: Credit unions have an unfair advantage over banks because they don’t pay taxes.

Fact: Actually, credit unions do pay taxes. As a not-for-profit, member-owned financial cooperative, there are some taxes that credit unions don’t pay. Those “unfair advantages,” of course, are passed on to members.

Myth #9: Credit unions are not regulated.

Fact: Credit unions are held to the same laws and regulations as banks. In fact, credit unions face more restrictions on the investments and loans they make.

Myth #10: Credit unions are good places to save money, but that’s about it.

Fact: Credit unions offer consumer loans, debit and credit card services, online banking and bill pay, checking accounts, retirement investments, mortgages, car loans, and more. They are a great place to take care of all your banking needs.

AGCU is proud to have again earned Bauer Financial, Inc.’s highest rating for strength and stability among all financial institutions.

The 5-star rating denotes the absolute highest level of banking performance from the nation’s leading independent bank rating firm. This 5-star rating puts AGCU in an elite category as one of the strongest financial institutions in the nation.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

9 Steps To Buying Your First Car

 

Congrats—you’re ready to purchase your first real car!

There are many, many pitfalls when buying a new car. If you are a first-time car buyer, it can be daunting when you don’t know what to expect, so let AGCU walk you through the process. Follow our guidelines for a stress-free ride!

 

Jump To:

• Determine If You Really Need a Car
• Know Your Budget
• Create a Tentative Wish List
• Obtain Financing
• Research Your Options
• Look Up Listings
• Take It For a Test Spin
• Have It Inspected
• Make It Official

 

1. Determine If You Really Need a Car

You may not have expected this, but it’s important to make a realistic assessment of your actual transportation needs. Most college towns already have a great public transportation system in place, which can save you a lot on personal auto costs. If you have a generous car-owning friend you’ll be riding into town with each weekend, it may not be worthwhile for you to have your own set of wheels. Also, if your campus has everything you need within walking distance, it may be cheaper to rent a car when you actually need one instead of owning one.

 

2. Know Your Budget

If you’ve determined that a car purchase is necessary at this point in your life, don’t start hunting for your dream car until you’ve worked out a realistic budget. Take a hard look at your other monthly expenses to see how much you can spare for a new set of wheels. Don’t forget to include some cash for auto insurance, gas, and maintenance.

 

3. Create a Tentative Wish List

Creating a list may seem obvious but you shouldn’t go out to any car dealership and start shopping.

This is your first car, so it doesn’t need to have all the bells and whistles like in your dreams. Sit down and make a list of all the “must haves” versus “wants”  in a vehicle. Determine how much each car feature would cost you and decide which ones are really important.

 

4. Obtain Financing

If you’ve been saving up for your first car, you’re a smart cookie! If you don’t quite have all the money you need to buy your car, you can take out an auto loan. Check out AGCU to learn about your auto loan options and find out how much we can pre-approve you for.  This will help in your car selection and shopping process.

Do you have questions about our vehicle loans? Want to know about the application process? Contact us for more information or to schedule an appointment with a loan officer.

Curious about our rates?  View current loan rates here.

If you’re ready to apply, start your application now.

 

5. Research Your Options

You want a vehicle that will satisfy your needs and wants. You can research new and used car values and obtain vehicle ratings on sites, like Kelley Blue Book.  Create another list of your top three choices of car makes and models.

 

6.  Look Up Listings

Start searching for specific listings of your desired vehicles online and around your neighborhood. Once you’ve found several potential cars, research their histories on Carfax.com and then contact the seller to set up a test drive.

 

7.  Take It For a Test Spin

If a car checks out and everything looks good, you might want to take it for a test drive. Pay attention to details like legroom, acceleration, brake functionality, and more while you drive.

 

8. Have It Inspected

If you’re purchasing a used vehicle, it’s best to have it inspected by a mechanic before buying. Be sure to contact a reliable, local mechanic to thoroughly inspect the car and make sure it’s in working condition and safe to drive.

 

9. Make It Official

If your car passed the test drive and inspection, you’re ready to make it official! Be sure to read all documents before signing and obtain insurance before your first joyride.

Interested in an AGCU Insurance Quote?

If you live in Arkansas, Kansas, Missouri, Oklahoma or Texas, you can contact Sherrie and Dee today to obtain a quote!
Phone: 866-508-2428 or 417-447-9356
Email: insurance@agcu.org
If you live outside of those five states, visit the AGCU Insurance website or call 866-397-4086 for more information.

Enjoy your new set of wheels and drive safely!

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

AGCU Team Visits Assemblies of God 59th General Council

AGCU is excited to welcome the 21-member Executive Presbytery of the Assemblies of God elected by General Council voters Aug. 5.
Congratulations on your re-election Douglas E. Clay! The general superintendent received 82.5% of the votes cast, 1,386 out of 1,714 total. General Treasurer Wilfredo “Choco” De Jesús and U.S. Missions Executive Director Malcolm P. Burleigh will also continue serving in their posts.
We’re so proud of the dedication and hard work the members of the EP have demonstrated throughout their careers, and we look forward to the direction their leadership is bringing to the Assemblies of God

Learn about all of the big news and exciting events happening at GC21 here

The AGCU team is creating accounts and taking names.

Bruce, Mark, Jim, Jeff, Janora, and Todd are teaming up to represent the culture and heart of AGCU at GC21. Events like this are a great opportunity to let our members across the globe connect with us one on one.

Professional Presence and Accessibility

With our new logo on our hanging sign, we can be seen throughout the exhibit hall, reminding the AG of our professional presence and accessibility.

Daily Giveaways and Video Banking

Giveaways

Each day we are giving away money to one lucky individual. In order to be a part of our giveaway, each contestant puts their contact information into a survey,
along with any questions or suggestions they may have.

That survey is then streamlined and sent to our dedicated member care team.
As they follow up with members or future members to answer their questions or pass on great ideas,
we are learning better ways to provide first-class financial services for our members.

See who the daily winners are on our Facebook page.

Video Banking

If someone wants to open an account or start a loan, tablets are on location with our video banking, allowing members to communicate face to face with one of our banking representatives

 

GC21 – Orlando Florida

Adherents from the U.S. Assemblies of God met at the Orange County Convention Center in Orlando, Florida, August 3-6 for the Fellowship’s 59th General Council.

The General Council is the biennial business meeting for the church, which is part of the largest Pentecostal denomination in the world, with over 69 million members. There are more than 3 million adherents in the U.S.

Business sessions at which delegates elect officers, hear reports of church ministries and adopt resolutions began at 8:30 a.m. (Eastern) Thursday, Aug. 5, and continued through Friday, Aug. 6. Delegates are comprised of licensed and ordained AG ministers who are present and registered for the convention. In addition, every General Council congregation may send one delegate to participate in business sessions.

Doug Clay, general superintendent of the U.S. Assemblies of God, delivered the keynote address at the first service of the General Council on Wednesday evening. Other highlights include J.J. Vasquez  who spoke on Friday evening, with a Night of Miracles prayer service Thursday evening.

Even before the biennial gathering officially opened Wednesday night (Aug. 4), attendees met for pre-General Council sessions and a leadership conference that began Tuesday, Aug. 3. General sessions speakers for the two-day Influence Conference included Greg Ford, pastor of One Church in Columbus, Ohio, plus Aaron Burke, pastor of Radiant Church in Tampa, Florida.

Students, parents, and sponsors participated in the National Youth Convention  at the Orange County Convention Center. Youth were involved in numerous activities, including National Fine Arts Festival, community outreach, and nightly services. The week culminated with the Fine Arts presentations and awards, Friday, Aug. 6, beginning at 7:00 p.m.

Online viewers may follow the Influence sessions, GC business, and GC and National Youth Convention services via livestream at GeneralCouncil.org. A full backstage experience will begin 30 minutes prior to each service in English and Spanish. Archived videos will be posted following the event.

 

 

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

 

 

 

 

 

 

 

 

The Hill Family Memorial Fund

On July 30, 2021, The family of Christopher Hill, Director of Computer Applications and Development at General Council of the Assemblies of God, sustained a great loss.

Chris’s lovely wife Lindsay lost her husband, and his four girls Monta, Katelyn, Elise, and Alison lost their dad. After struggling with breathlessness, unable to keep his oxygen levels up due to Covid, Chris was put on a ventilator to help him fight and recover from the effects of the virus. No one ever expected for a moment that this 45-year-old husband and father would not come home to his family. But after three weeks on the ventilator, his struggle ended. He left this earth and his family to be with Jesus.<more>

Everyone who knew Chris knows that he loved big. Everybody. Always. He was always sensitive to how others were feeling and what they needed. He listened intently when others spoke. He never put himself first. He was kindness and generosity mixed with fun and jokes. It is said by those who knew him that Chris was one of the most loving and intentional dads they had ever known. He loved his wife and four girls in such tender and meaningful ways connecting with each one and making even the mundane special for them. There is such a gaping hole in this family without him here.
As well as the AG community, and the world.

The Family is now facing not only the grief of losing a husband and father, but his wife Lindsey is also facing the weight of parenting four daughters alone. Their youngest daughter just turned 11, so she had many years of providing and parenting still stretching before her. Our heart wants to raise a million dollars for the care of these sweet girls to take the stress off of Chris’s wife in his absences… We are excited to let God do that if that is how He wants to work! However, we know that if we start by giving enough money to pay off their mortgage, that would lift some of the immediate financial concern for how they will face the future; which is why we are trying to raise a goal of $150,000. The needs are many; medical costs, funeral costs, and especially the needs of raising four children, but we believe God will work through people to provide all that they need.

Thank you for loving Chris’s wife Lindsay, and his girls big! Thank you for helping to care for Monta, Katelyn, Elise and Alison. They are missing their daddy so deeply, and we can never give them back what they lost, but we can show them love in a practical way as a small gratitude for the way Chris loved us, and everything they gave us, and to the AG community throughout their years of service for the Kingdom!

Contributions to the family can be made here
or make a check payable to Lindsey Hill in care of AGCU P.O. Box 2328, Springfield, MO 65801

Banking With A Purpose

7 Signs You’re Living Beyond Your Means and How to Fix Them – Healthy Finances

Let’s take a look at seven red flags that might mean you’re living beyond your means and the steps you can take to get back on track. ­

You’re carrying a credit card balance from month-to-month

If you have a large credit card balance and just pay the minimum each month, you could end up carrying this balance for years while paying a lot in interest. You might also be tempted to make more purchases on the card, ultimately increasing the time it takes to pay off the debt.

You might consider: Try to double down on your monthly payments and/or make one extra payment each month instead of paying just the minimum amount. If you have multiple credit cards with high-interest rates, consider transferring all your balances to one credit card with a lower interest rate.

AGCU offers a variety of personal credit cards, including Max Cash Preferred, Real Rewards, Platinum, and Secured Card. Pick the card best suited for your needs!

Paying your bills gives you anxiety

Does the thought of making your monthly bill payments on time fill you with dread? Having a plan upfront can help decrease your stress and empower you to control your finances.

You might consider: Making a monthly budget, detailing your income and spending. Look for areas to cut back on “discretionary” purchases and consider ways to boost your income. Our budgeting tools are a great way to keep on target!

Log in to your Online Banking Account and select the My Finance tab to start taking control of your spending today!

You can’t save 5% of your monthly income

Putting away at least 5% of your income could help you pay for seasonal expenses like vacations, back to school, or holidays, without relying on credit.

You might consider: Trimming your expenses and restructure your budget to include at least 5% for savings. If this amount is not feasible, start with 1-2% and gradually increase each month until you can reach 5%.

You don’t have emergency or rainy-day funds

Ideally, you should have an emergency fund to cover urgent needs that you can’t anticipate. According to a recent Bankrate survey, “just 40% of Americans could pay an unexpected $1,000 expense, such as an emergency room visit or car repair, with their savings”.

You might consider: Starting to build your funds now by putting away as much as you can each month, specifically for emergencies. Consider setting up automatic recurring transfers into one of your AGCU savings accounts to help prepare now for the unexpected.

Your mortgage payment is more than 30% of your monthly income

Most financial experts agree that your monthly mortgage payment should not exceed 30% of your take-home pay.

You might consider:

•  Finding ways to boost your income. Seek a raise at your current job, freelance for hire, or find another side job for extra cash.
•  Spending less on another home or consider renting.
•  Refinancing your existing loan could be an option. Call or visit your local branch to speak with an AGCU representative to explore your options. Visit our Home Loan Center to get started!

Can you afford to purchase or refinance your leased vehicle?

If the answer is no, this could spell financial trouble.

You might consider: Finding a less expensive vehicle to purchase. AGCU has lower interest rates and more flexible options than many other auto loan providers. Learn more!

Your financial decisions are influenced by your friends’ spending habits

Thanks to social media, the pressure of “keeping up with the Joneses” is stronger than ever. If you find yourself making financial decisions based on your friends’ choices, you could be spending more than you can afford.

You might consider: Not feeling compelled to live up to the expectations of others. The peace of mind you gain by taking control of your finances contributes more to your well-being in the long run.

If you’re feeling overwhelmed by your current financial situation, we might be able to help. Stop by your local branch or call 866-508-AGCU (2428) for assistance.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Don’t Get Scammed!

Here are some tips to help avoid scams and protect your personal information

Child Tax Credit payments begin this month, and scammers are using this as an opportunity to try to trick you out of your personal information. These tips from the IRS can help to keep yourself safe from potential scams.

The IRS has launched Identity Theft Central, an online resource that explains how to report identity theft and protect yourself from online scams and phishing attacks. (Phishing emails, calls, texts, and letters try to trick you into sending cash or disclosing personal information. Some phishing attacks aim to let a fraudster infiltrate your computer and steal information). The site also contains information for businesses and tax professionals.

 

 

 

 

10 Ways to Spot IRS Scams and Impersonators

It is true that in rare circumstances the IRS will call or come to a home or business. According to the agency, that might happen if you have an overdue tax bill, haven’t filed a tax return, haven’t paid payroll taxes on your employees, or are undergoing an audit or criminal investigation.

But even then, taxpayers generally first receive several letters or notices from the IRS in the mail, and taxpayers will only be asked to pay the U.S. Treasury. Which is why the items below are major red flags that IRS scams are lurking.

• They’re calling you first.
  The IRS contacts taxpayers by mail first; it doesn’t initiate contact via a random phone call.
• They’re leaving a prerecorded voice mail.
  The IRS doesn’t leave prerecorded, urgent, or threatening voicemails.
• They’re emailing you.
  The IRS doesn’t initiate contact with taxpayers by email to request personal or financial information. Do not reply to the message, open any attachments or click on any links. And note that the IRS’s website is IRS.gov — not IRS.com, IRS.net, IRS.org or some other bit after the period.
• They’re texting you.
  The IRS doesn’t initiate contact with taxpayers by text message to request personal or financial information.
• They’re contacting you via social media.
  The IRS doesn’t initiate contact with taxpayers on social media channels to request personal or financial information.
• The form they’re sending or referencing doesn’t appear on the IRS website.
  You can look up the names of IRS notices and letters on the IRS website. If the type of notice you received doesn’t show up on the list, it’s probably not legit.
• They don’t know what an HSPD-12 card is.
  Real IRS agents have two forms of identification: a pocket commission and an HSPD-12 card. You have the right to see these credentials, and you can verify information on the HSPD-12 card by calling the IRS.
• They’re asking for a credit card or debit card number over the phone.
  The IRS doesn’t do that.
• They want you to pay only with gift cards, iTunes cards or prepaid debit cards.
  The IRS doesn’t use these methods for tax payments. The IRS mails paper bills to taxpayers who owe taxes, and payment should only ever be made out to the U.S. Treasury — not a collections agency or other entity.
• They’re saying you’ll be arrested, deported, have your driver’s license revoked, etc.
  The IRS can’t revoke your driver’s license, business licenses, or immigration status. In addition, the IRS and the Taxpayer Bill of Rights give you the opportunity to question or appeal what the IRS says you owe.

But what if I really do owe the IRS money?

If you think you might owe money to the IRS, you can check that directly with the IRS (and for free) by visiting https://www.irs.gov/payments/view-your-tax-account. If you do owe back taxes and want to make a payment, you can send money directly the IRS or sign up for an installment plan to pay the IRS over time. All of those things you can do yourself directly with the IRS.

Fight back: How to report IRS scams

• Tell the Treasury Inspector General for Tax Administration (TIGTA). You can report IRS scams online or by calling TIGTA at 1-800-366-4484.
• Forward email messages that claim to be from the IRS to phishing@irs.gov. Do not open the attachments or click on any links in those emails.
• Tell the Federal Trade Commission via the FTC Complaint Assistant on FTC.gov. Add “IRS Telephone Scam” in the notes.
• Report Social Security Administration phone impostor scams using the form on the Social Security Administration’s website.
• If the IRS scams appear to be impersonating a state tax authority rather than the IRS, contact your state Attorney General’s office.
• Contact AGCU Member Services with any questions you may have about your account.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Your Complete Guide to Buying an RV and ATV

 

If you’re ready to purchase an RV or an ATV, the number of choices to make can be overwhelming.

The price range for different vehicles is enormous, choosing between a new or used vehicle can be tricky and securing financing can be a nightmare all its own. To help you through the process, we’ve outlined the steps to take, factors to consider and general tips for purchasing an RV or an ATV. Let’s get started!

Determine your RV class and ATV type

When choosing an RV, you’ll need to decide between the three RV classes: Class A, Class B, and Class C.

• Class A RVs are the largest and the most comfortable. Built on big-rig platforms, these are basically rolling houses. They feature full-sized couches and TVs, full bathrooms, kitchens and expandable bedrooms that can sleep up to 10 people. The price tags range from $60,000 to over a million for custom-built motorhomes.
• Class B motorhomes, also called campervans, are a lot more modest. Built on full-size van platforms, they include scaled-down versions of the same amenities as Class A motorhomes in a more maneuverable, cheaper package. You’ll still have the kitchen and bathroom, but think postage-stamp size as opposed to full-sized rooms. At most, you can sleep three people in a Class B RV. These vehicles cost between $50,000 and $100,000.
• Class C RVs aim for that sweet spot between the luxurious Class A and the no-frills Class B motorhomes. These start with cargo-van platforms and extend the wheelbase until it’s roughly equal to the length of a small bus. Amenities are more enhanced than those found in a Class B, but nowhere near as robust as in a Class A. These vehicles run between $60,000 and $200,000.

If you’re looking to purchase an ATV, you’ll first need to choose between the two main categories for these vehicles: utility and sport. Utility ATVs have larger tires, are generally easier to ride and have fewer bells and whistles than sport ATVs. As their name implies, utility ATVs are designed for work (though they still deliver a fun ride), while sport ATVs are more commonly used for recreational purposes only. Prices for each can run from as low as just a few thousand dollars to a whopping $65,000 for a luxury, fully loaded vehicle.

When choosing an ATV, it’s also important to consider factors such as weight, power, durability and speed.

Choose between new and used vehicles

Like all vehicles, new RVs will cost a pretty penny, but there are several distinct benefits to going this route. First, you’ll likely have an easier time securing financing when purchasing a new RV. You’ll also have the option of buying an extended warranty for your vehicle, which will cover any issues that may arise after the manufacturer’s warranty expires, which is generally after one or two years. Finally, you’ll have a broader range of options to choose from when buying a new RV.
On the flip side, purchasing a used RV can save you thousands of dollars and still provide all you’re looking for in a motorhome. Also, you may never recover the inflated cost of a new RV, as most will depreciate steeply during the first year of ownership, some by as much as tens of thousands of dollars. However, you may have a harder time securing financing for a used RV, be forced to pay a higher interest rate on the loan, and have limited options when shopping for your dream motorhome.
Similarly, depending on your price point, purchasing a used ATV can potentially save you hundreds, or even thousands, of dollars. However, you’ll likely have more limited options to choose from, a harder time qualifying for a loan, and be taking a gamble with the vehicle’s functionality and durability.

Secure financing

Once you’ve made up your mind about the kind of RV or ATV you’d like to purchase, you’re ready to move ahead and secure financing.
If you’re looking for a loan to help cover the cost of your dream vehicle, look no further than AGCU! Your RV or loan comes with a favorable interest rate, easy eligibility requirements, and the excellent service you’ve come to expect from our team. Apply online or contact a loan officer at 866-508-2428.

You could save up to 2% on your next auto, motorcycle, RV, or watercraft loan.* This includes NEW & USED vehicles. Learn more about Mystery Savings!

 

 

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Like us on Facebook!

 

 

 

*Minimum interest rate is 2.24% APR up to 72 months and 3.24% APR up to 84 months. APR = Annual Percentage Rate. The maximum loan term is 84 months. Member must be in good standing. Subject to credit approval and the credit union’s eligibility requirements. No refinancing on existing AGCU loans. Offer valid 8/2/2021 – 9/30/2021. Not valid with any other offer. See credit union for complete details.

AGCU is Proud to Support Queen City Crush Baseball

AGCU is proud to sponsor the Queen City Crush, Greater Springfield Fellowship of Christian Athletes’ (FCA) collegiate baseball team as they seek to make disciples in Christ and lead others to do the same.

Queen City Crush players and coaches operate local sports camps where young children receive training and instruction to learn life-long understanding of what it is like to play with Christ on the field and live for Him off the field as they develop their athletic skills. The team is also making an impact globally as they travel to the Dominican Republic to share their message through missions projects.

The FCA has a vision to see the world transformed by Jesus Christ through the influence of coaches and athletes. Since 1954, FCA has been challenging coaches and athletes on the professional, college, high school, junior high and youth levels to use the powerful platform of sport to reach every coach and every athlete with the transforming power of Jesus Christ. FCA focuses on serving local communities around the globe by engaging, equipping and empowering coaches and athletes to unite, inspire and change the world through the gospel.

The Queen City Crush compete in the Show-Me Collegiate League, a summer collection of college standouts from coast to coast and beyond. More than 100 players converge in Ozark for the summer to play in the wood bat league. Come cheer for the Crush at US Ballpark Ozark, MO, off of Hwy 65.

Watch Show-Me Collegiate League games live at US Ballpark

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

AGCU Earns Highest 5-Star Rating From Bauer Financial

AGCU is proud to have again earned Bauer Financial, Inc.’s highest rating for strength and stability among all financial institutions.

The 5-star rating denotes the absolute highest level of banking performance from the nation’s leading independent bank rating firm. This 5-star rating puts AGCU in an elite category as one of the strongest financial institutions in the nation.

The award is based on an analysis of current financial data. Bauer Financial recommends all institutions ranked with 4 or 5 stars. What this means to them is that the institution is safe, financially sound, and operating well above its regulatory capital requirements.

What this means for our members is peace of mind. Any member who deposits funds with AGCU can be assured their funds are safe and secure.

Learn more about Banking With a Purpose

 

How Bauer Financial Assigns Star Ratings

Financial data is compiled for U.S. banks and thrifts from call report data as reported to federal regulators. Although the financial data obtained from these sources is consistently reliable, the accuracy and completeness of the data cannot be guaranteed by BauerFinancial, Inc. CEO names and addresses are subject to change. While our staff makes every effort to ensure that these are current, the accuracy and completeness cannot be guaranteed by BauerFinancial.

All institutions are subject to federal regulatory capital requirements, but those requirements vary among institutions and are dependent on many factors. In general, banks are required to maintain a leverage capital ratio of at least 4%, a tier 1 risk-based capital ratio of at least 6% and a total risk-based capital ratio of at least 8%.

In addition to the capital ratio, other criteria are used to determine the BauerFinancial™ Star-Rating. Some of these include but are not limited to: profitability/loss trend, evaluating the level of delinquent loans, chargeoffs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.

For more information on Bauer Financial, visit www.bauerfinancial.com.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose