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Browsing Auto Loan

Hungry for a Tasty New Ride?  by Jan


Boat and SUV on a forkA boat and an SUV on a fork? What’s THAT all about?!?

Well, it’s March, and we know that you’re starting to think about all the fun stuff you want to do… if only you had the right tools and/or toys! (We know you’re thinking about it, because WE’RE thinking about it, too!)

So…? Now is a great time to satisfy your craving for a tasty new ride! Go ahead and get that loan you’ve been thinkin’ about, and we’ll EAT a half percent of your rate! (You knew we would work in that fork somehow.)

I ask you: What are you hungry for? Maybe an RV? An SUV? ATV? Motorcycle? Boat? Car? Truck? We’re happy to serve up any and all of these goodies for you!

Here’s what comes with the main dish:

  • All loans subject to approval.
  • Existing Linn Area loans do not qualify.
  • Loan must be for $5,000 or more.
  • May not be combined with other offers.
  • Minimum of 2.0% APR.
  • Other restrictions may apply.

This blue-plate special is good through March 31, 2016. If you have questions about the menu, ask to speak to a loan chef at (319) 378-0101 or email us at

If you’re ready to stick a fork in it (there’s that fork again!), you can come on in and see us or apply online right now! Bon appetit!

Auto Refinance: Top Questions!  by Nick


When people think of “refinance,” 9 times out of 10 they immediately associate the word with refinancing a home. But did you know that you can actually refinance other things – like auto loans! YES! Many people think that if they have an auto loan, they are stuck with that same loan until the term is up. Well I have some good news for you – you’re not! 

Because most people aren’t familiar with the idea of refinancing an auto loan, I wanted to take out some of the mystery for you! As a financial counselor, here are some frequently asked questions I get about the process: 

Q: If I have my vehicle loan at another credit union or bank, do I have to call them to say that I’m moving my loan over to you guys?

A: You do not have to let the other institution know about the refinance. We will send them a check to pay it off (a.ka. a payoff) with a form that will allow them to transfer the title to us. 

Q: What do I need to bring with me in order to refinance my vehicle?

A: We need the VIN# (which you can find on your registration) and a 10 day loan balance payoff from the current financial. It also isn’t a bad idea to bring in the original purchase agreement when you bought it.

Q: How do I get a 10 day payoff?

A: You need to call your financial institution and they will give that to you over the phone. We’d do it for you, but they don’t always give us the payoff without the member’s consent. What some people like to do is make the call while they are in the office with us and we can help facilitate the whole she-bang. 

Q: How long does this usually take?

A: If you are an existing member, you are about 20 to30 minutes away from saving money. 

Q: What if I’m not an existing Linn Area member? Do I need to open an account?

A: Yes, you do need a five dollar savings account at Linn Area Credit Union. This will provide you with a membership to the credit union and we can start saving you money right away! 

Rates are super low right now and if you are looking for ways to cut corners or save a little cash each month, now is the time to capitalize. (In fact, you can bring any loan over to Linn Area and we can see how much we can save you!) It is a very painless process and, hey, if you are able to save money,  it’s a win-win situation!

Just give us a ring-a-ding at 378-0101 x4 or pop into any of our locations. We look forward to helping you!

Member Success Story: An easy $2000  by Nick


What would you do with an extra $2,000? For real-skies. 

I recently had a member come in to talk about getting a boat loan. As I began the going through the application process, I noticed that this member had a loan with another financial institution. They mentioned that it was a car loan. That is when my AH-HA! moment occurred! 

The member let me know that he had locked into a 5% APR rate, which was looking pretty good at the time he initially got the loan. However, our loan rates at Linn Area recently dropped, allowing us to be more competitive than ever. Because of this, I could not only lower his auto rate from 5% APR to 3.25%, but I that was able to shorten the term a little. 

For fun, I did the math to see exactly how much money this fancy financial finagling would save the member over the life of his loan. Any guesses out there?

Are you ready for this? 

It was a total of 2 grand. I’ll give you a moment to pick your jaw up off the floor.

The member looked at me and exclaimed, “Did you just save me $2,000 dollars in less than 20 minutes?!?!”

 I was thrilled to nod my head saying, “Oh, yeah. That just happened.”

 I’ve never seen someone’s face light up as much as his did. I was ecstatic to make these members start off 2011 on the right foot.

 This obviously isn’t the first time I’ve been able to save a member lots of money by helping them refinance an auto loan. It certainly won’t be the last! I’m willing to bet that most of you who are reading this had no idea that you could actually refinance an auto loan. Not only can it save you big bucks, but it’s a very quick and painless process. I’d say the average auto refi takes me all of 30 minutes.

So if you have an existing loan at another bank or from a dealership and are curious about saving some money, please don’t hesitate to give us a call or check out our Linn Area website to see how much we can save you. To be honest, we love saving our members’ bling almost as much as they do!

What would YOU do with an extra $2,000? Tell us in the comments below.