At some point in your life, you’re going to have to borrow money. It helps to have an overview of your options. Read on:
There are different kinds of financing. On the one hand, you have your traditional financial institutions. Banks. For profit, these institutions are there to bring in money for their shareholders. That is the reason they exist. Nothing more, nothing less. They are purely profit driven.
On the other hand, you have your credit unions. Credit unions don’t exist to make the bank rich. In fact, they really aren’t banks at all. They are member supported, member owned organizations that pool their member resources in order to offer reasonable financial services to those same members. This is why their loans are more easily approved, and interest rates are generally lower on loans and higher on savings accounts than the for-profit banks.
The military is a big fan of credit unions. Naval Federal Credit Union and other bodies have been serving the military community for decades. But, what most servicepersons aren’t aware of is that there is an even more convenient option than the credit union: US military loans.
These loans are very similar to those at a credit union in that they aren’t made available strictly for profit; rather, their primary function is to assist you, the soldier, in your time of financial need. You the borrower are the focus of the activity, not the shareholders, and not the CEO. That’s why these loans are so easy to manage.
US military loans are available to all active duty military personnel, regardless of credit status. No credit, good credit, and even bad credit are all qualified to apply. You can apply directly online and get instant approval. Application is easy, and so is repayment. The interest is low – in fact, there is NO interest for the first 90 days.
In most cases, you can borrow anywhere for $500 to $10K, which makes these loans multipurpose and versatile. The companies that offer these loans are showing their appreciation for all that our fighting men and women do for us. It’s the least the industry can do to extend a fair deal to those individuals that fight every day to ensure its survival.
