Loans
We make it easier for you to achieve your financial dreams. With our low cost loans, you can purchase a car or home or get money for education, travel, weddings and other special occasions. These Web resources provide the information you need to make big monetary decisions. Then our Financial Consultants will explain your financial options and help you select the loan that best fits your needs.
Personal Loans
Auto Loans Special
Vehicle Zone
Payment Coupons
Automatic Payments
Rate & Fee Comparison
Personal Loans
BALANCE Financial Fitness Program
Signature Loans
Your good credit and signature can get you the money you need for any purpose. Visit any of our branch offices or call 889-7755 (800-347-2838 from outside the Albuquerque area).
Extra Credit Line-of-Credit
You can access this unsecured personal line-of-credit you simply by transferring funds into your checking account any time day or night. This account can also serve as automatic overdraft protection for your checking account. Transfer money (up to your approved limit) from Extra Credit by using Internet Banking or Access 24 phone service.
Home Improvement Loan
This loan offers you a quick access to funds for home repairs or home improvements for up to $10,000 with minimal paperwork.
Savings-Secured Loans
Borrow money for any purpose at our lowest interest rate for a personal loan. You'll also enjoy affordable monthly payments. To apply, visit any of our 14 branch offices or call 889-7755 (800-347-2838 from outside the Albuquerque area).
Preferred Dealers Program
When you're shopping for a new or used vehicle, you have a way to buy with increased confidence...look for the Preferred Dealers at participating dealerships listed below.
At a Preferred Dealer, members of New Mexico Educators Federal Credit Union can obtain the very best current interest rate for a Credit Union auto loan. If you have less than perfect credit, it is also easier to get a Credit Union auto loan at these dealerships. In most instances, you can drive home in your new vehicle the same day.
You may want to research your purchase and financing before you shop, and your Credit Union can help. Click here to reach the "Vehicle Zone" section of our website.
You'll find information on vehicle shopping, loans, insurance and warranties. There are also links to some of the top-rated and reliable vehicle research websites. Calculators are available to help you determine if the price is right for you.
Auto buying is easier for our members- by researching your purchase and financing options and then doing business with a Preferred Dealer, you can shop with increased peace of mind.
For more information about the Preferred Dealer program, call 889-7755 or 800-347-2838 (outside the Albuquerque area).
New Mexico Educators Federal Credit Union does not establish or negotiate prices on vehicles sold by the dealer; nor do we guarantee financing. Vehicle warranties are the responsibility of the manufacturer or extended warranty provider.
Preferred Dealers in Albuquerque
Garcia Automotive Group
Honda 260-5010
Infiniti 271-3000
Kia (Lomas Blvd.) 294-1455
Kia (Cottonwood) 899-4848
Mazda 294-1455
Micro Cars/Smart Center 998-2501
SAAB 260-5175
Subaru 260-5155
Larry H. Miller Group
American Toyota 823-4440
Chrysler, Jeep, Dodge 366-2900
Hyundai 792-7000
Albuquerque Toyota 294-8800
Melloy Auto Group
Dodge 843-9600
Nissan 265-8721
Jaguar 265-8721
Super Center 881-0505
Perfection Honda 898-0000
Quality Dealerships by DiLorenzo 765-1300
Mazda
Pontiac
Rich Ford
Albuquerque 275-4522
Edgewood 286-3000
CU Auto Sales 344-7755
*As of January 2010.
Vehicle Loans
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Consumer Reports Rates All 2011 Cars and SUVs
The April 2011 issue of Consumer Reports contains the magazine’s latest ratings of new and used vehicles. Samples of that information are available at http://www.consumerreports.org.
First-Time Auto Buyer Program
If you are age 18 or older and have never had an auto loan in your name, New Mexico Educators Federal Credit Union has a special program to help you start building a good credit record. We offer a competitive low, fixed interest rate with a minimum down payment of only 10%. You can choose from new or used vehicles from the 2002 to 2009 model years. To qualify, you need to be employed for one year or have an employment contract or a firm job offer. For full details, speak with a Financial Consultant at any of our branch offices, or call 889-7755 or 800-347-2838 (outside the Albuquerque area).
Proof of Insurance
With any vehicle loan from New Mexico Educators Federal Credit Union, you must provide proof that you have insured the vehicle within 30 days of your purchase of the vehicle. Otherwise the Credit Union must purchase insurance for the vehicle for you and the premium will be added to your monthly payment.
You can enter your proof of insurance securely online or call us at 889-7755 or 800-347-2838 (outside the Albuquerque area) to provide that information.
New and Used Autos - 2008 and Newer
At New Mexico Educators Federal Credit Union, you're not limited to certain makes and models. Instead, you can get quick financing on exactly the vehicle you want. Our best rates are available for the two most recent model years. That means you can save money on your financing for quality used vehicles as well.
- Terms are available for up to 84 months to assure you of affordable monthly payments.
- No down payment / 100% financing is available for qualified members.
Used Autos - 2007, 2006, 2005, 2004, 2003 and 2002
At New Mexico Educators Federal Credit Union, loans for used cars, trucks, SUVs and minivans are available at attractive low rates.
- Check our low rates on used vehicles for the 2002 - 2007 model years.
- No down payment / 100% financing is available for qualified members.
- For 2004 through 2007 model year vehicles, terms are available for up to 66 months.
Which is better: a new or used vehicle?
Specialty Auto
If you're a collector of classic cars, your Credit Union can provide you with a loan to put that very special car in your garage.
- Up to 36 months to pay off.
- Automobile must be fully restored.
- The auto must be listed in the "CPI" book (price book specific to classic vehicles).
Please email us to discuss the exact vehicle you're considering.
GAP Insurance
Guaranteed Auto Protection (GAP Insurance) is particularly valuable in the early months of your Auto Loan. In the event of the total loss of your vehicle through collision or theft, GAP Insurance covers the difference between the actual cash value of the vehicle and your outstanding loan balance.
Speak with a Financial Consultant about adding this coverage to your Auto Loan.
We can save you money on these extra services:
GAP Insurance
Extended Warranty
Credit Protector
Extended Warranty
Mechanical Breakdown Protection at your Credit Union is a much better value than the extended warranties sold at dealerships. Besides being very competitively priced, it offers these advantages:
- Available when you purchase a new or used vehicle (up to 10 years old) from either a dealership or a private seller.
- Low deductibles: $0 and $50
- No claim forms to fill out - you make claims by phone toll-free.
- Repairs can be made at any licensed repair facility, anywhere in the U.S. and Canada.
- Rental car reimbursement up to $180.
- No limit to the number of claims.
- Coverage is transferable, adding extra value to your vehicle if you sell it.
Speak with a Financial Consultant about adding this coverage to your Auto Loan.
Motorcycles and Snowmobiles
Cars and trucks aren't the only form of transportation you can get a loan for at your Credit Union. Check our low Annual Percentage Rate for motorcycle loans before you settle for expensive dealer financing options. You may be surprised at how much you can save at your Credit Union.
Recreational Vehicles
For your home-away-from-home needs, come to your Credit Union. We offer competitive rates and flexible terms to help you purchase a new or used recreational vehicle.
