Along with strong performance, BECU has a strong interactive website that features loan offers and four calculators that help browsers evaluate the following questions:
How Much Vehicle Can I Afford?
How Much Will My Payments Be?
Which Is Better: A New or Used Vehicle?
Should I Lease or Purchase a Vehicle?
These tools allow members to calculate loan affordability and the best course of action before ever talking to a representative about an auto loan.
Auto lending is not the only place BECU is beating industry averages. At year-end, the Washington cooperative reported a credit card delinquency of 0.25%. Credit card delinquency for the entire industry has been on the rise since 2013, and Callahan projects it will hit 1.29% in the fourth quarter.
In tune with the credit union movement, BECU rewards members who actively pursue financial health. Its repricing program automatically lowers rates for eligible members who have improved their credit score. Programs like this provide an incentive to stay current on credit card loans and reward members who are timely on their payments.
Innovative loan offerings and financial education tools help BECU excel. The cooperative shows members how they can earn better rates and achieve financial freedom. In turn, members repay their debts in a timely manner.