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Matadors Community Credit Union may collect the following information from users of our website. To see how this information is used, click here to go to our privacy page. Information we may collect: IP address, browsing history, search history, products and services considered, geolocation data, and information about your interaction with our website, application or advertisement. If you complete an online form, we may also collect your name, e-mail address, physical address or phone number that you provide to us.

PHONE SCAM WARNING! PLEASE READ:

Over the past few days, we have received reports of fraudulent activity affecting MCCU members.  

The scam involves a phone call from a scammer spoofing a MCCU phone number (it will look like it is coming from MCCU). The scammer states they are calling to confirm debit card transactions on the member's account (they have been referencing Walmart, but it could be any merchant).  The scammer then proceeds to try to obtain online banking login credentials, PINs, and SSN information.  This activity is fraudulent!

Do not ever give out your Debit Card number, PINs or passwords!  MCCU or our Fraud Monitoring vendor may call to validate a transaction, but will never ask you to provide us your PINs, passwords or other sensitive account information as a form of verification.

If you receive a phone call such as this, please report it to us immediately at 818-993-6328!

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Feeling Stuck in Your Car Loan? Might Be Time to Shop Around!
Feeling Stuck in Your Car Loan? Might Be Time to Shop Around!6/25/2019

Refinance your car loan from another lender by 7/31 and get $200 cash back!

Click for details!


smiling man and woman with dog in convertible carSome bills can’t be changed. For other bills, though, a little legwork can make a big difference in your monthly payment. Your car payment is a great example. Refinancing your vehicle loan can lead to a lower monthly payment, a shorter payment term or both! It depends on various factors, including the value of your vehicle, how much you owe and your credit standing.

Read on for three common life changes that might mean it’s a good time to refinance your vehicle.

1.) Your credit rating improves

The biggest factor determining your auto loan status is your credit score. When your lender builds a loan package, they pull a credit report as a central part of that process. That number determines your interest rate, whether you’ll pay an insurance premium and what other fees your lender might charge.

Keep a copy of the documents your lender pulled. That can let you see if your credit score has improved. Nine months of steady repayment can boost your credit score, resulting in a less costly loan.

2.) You didn’t shop around initially

Many people feel railroaded throughout the car-buying process. They choose a car, and then are told the price, the monthly payment and everything else. It’s almost like the lender for your car loan is predetermined.

Dealers usually have a smaller range of lenders with whom they exclusively work. Those lenders have limited exposure to competition, so they can charge higher fees and rates. Do your own comparison shopping. Dealer rates can be 1 to 1.5% higher than those offered at smaller lenders, like credit unions.

If you’ve never shopped around for a car loan, it’s worth doing now. Do your shopping inside a 15-day period, though; multiple checks on your credit could negatively impact your credit score.

3.) You need to change your monthly payment

Your financial situation may have improved since you bought the car and you can now afford to pay more per month. You’ll save money in the long term by doing just that. Shorter-term loans usually have lower interest rates. Also, you’ll pay off the overall balance on your car faster.

If money is tight, consider refinancing for a longer term. Although you’ll pay more in interest, you’ll reduce your monthly payment and save the money you need now. You may also be able to reduce the monthly payment if your credit score has improved, interest rates have dropped or if you’re getting a better rate from another lender.

If you think a refinance is right for you, apply with us first and see how much money you can save!


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