Google Voice ftw!
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Got an email from Armco asking if itâs okay to charge me 20 bucks for BC3 and to upload my social security card. Agreed and scanned in my card but still no word. Iâm going to give it another week before I try to call. They do say it could take three to four weeks for a response. I donât need financing until about late summer anyways.
Also got two calls from Autopay today.
I picked them up out of morbid curiosity.
First call was from the 858 area code.
âThis is ?? from Autopay. I just need a few pieces of information and Iâll be able to finalize your loan for you!â
He gave up easily when I said that I wasnât satisfied with the rate they offered.
Four hours later⌠Another call, a woman this time.
âThis is ?? from Autopay. I just need a few pieces of information and Iâll be able to finalize your loan for you!â
This was from an 844 number.
I repeated what I said to the last person who called.
âThe rate was too high and someone else already called me today.â
She also gave up without any further conversation.
ARMCO is still allowing members. I wonder how much larger their membership grew? Just got approved.
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Also I am not currently a member, but I would have to go the non-affiliated route, how can I become a member and what is required from me to become a member.
I wanted to apply for the car loan at ARMCO, I do not mind waiting for response as long as I get locked into the rate they currently have. Is this possible for me to do?
Can anyone help. I have not been able to reach them. Just want to know the process
Apply online, donât reach them - their phone calls and I am paraphrasing, say apply online since they are busy
Apply, and have them make a donation in your name to BCU3.
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Since I am not a member, can I still apply directly for the loan?
And do I make the donation during online application or have them do it after by calling?
They have great rates. 72 months at 2.99%. Maybe @HersheySweet or admins can reach out to create a partnership agreement.
"When you are ready to expand your benefits program, simply prepare a letter, like the sample, on your company letterhead.
Along with your letter of intent, we ask that you sign a Partnership Agreement with the Greater Metro FCU such that both parties move ahead with mutually-agreed upon objectives, allowing the credit union relationship to grow and prosper throughout your organization.
Upon approval by our Board of Directors and the National Credit Union Administration, which takes approximately six to eight weeks, we will contact you to arrange a mutually convenient time for us to meet with your employees. Then, we will present to them the benefits of membership in the Greater Metro FCU which you have wisely chosen to offer them. We will also train your payroll personnel about the process associated with direct deposit.
The sample letter noted is for illustration purposes and should be sufficient for select employee groups (SGs) with less than 200 employees."
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Just start applying, the application will ask for your affiliation and you select âBC3 Charter Societyâ or something like that. There is a free-form text box at the end of the application where you explain that you want to make a donation to BC3 through ARMCO to become a member and be affiliated for the express purpose of getting an auto loan. They do not deny you application and will message you asking if itâs okay to charge you the membership fee.
Itâs not expensive and itâs an easy process. Donât bother going to the BC3 website because thereâs a disclaimer that if youâre trying to donate to BC3 to affiliate with ARMCo, just apply through ARMCO. Not sure if that was there before we started doing this, but it seems BC3 got flooded with requests and doesnât have the manpower to handle it. Theyâre not saying no, which is good.
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WE ARE A CREDIT UNION. WE DONâT WANT TOO MUCH BUSINESS.
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Literally just thinking that. Guess ARMCO is about to become a financial titan in the country after all this is said and done!
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Nah, I wouldnât be put off by that. In about 4 to 5 business days they had my membership dealt with. Canât imagine auto loans will really take that long. Theyâre not denying people on auto loans. Just asking for patience.
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While I can appreciate setting realistic expectations, theyâre also proactively telling people they donât want more business.
What percentage of the general population starts lining up auto financing 4-6 weeks before they go car shopping? 2%?
Different tactic, same message.
Redo that percentage of the population with LHs, and that % is exponentially higher. If you have an order with a firm date incoming, getting a loan ahead of time that locks is significantly better than having to rush to line up financing week of.
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Is it even taking people 3 to 4 weeks to get loans approved? Just because they have the disclaimer doesnât mean itâs whatâs happening.
I just think theyâre putting it out there because itâsa smaller credit Union with less Manning. Not sure itâs worth to hire three times the loan officers just for this surge.
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Do you go into a restaurant that has a sign out front that says, âWeâll sell you breakfast if you can wait three and a half hours for an omeletâ?
No, I donât go to a credit union for an omelette, dude.
Auto loan for future car purchase and breakfast in the morning are two completely different things and the comparison doesnât work. One has the potential to literally save me thousands over the course of years and one can lead to a bad trip to the bathroom.
