Auto Loan Rates

We’re distinctive than a bank. We’re a full-service, digital-first credit union. And as a credit union, we’re member-owned and not-for-profit, which implies fewer expenses and more benefits for you. Our members have access to many perks every day, and after our quick Aspire membership application process, you could too.

Keeping our members’ money safe is our top priority here at Aspire Credit Union. While we often talk about safety in terms of internet security and fraud prevention, another way in which we safeguard the money that members have deposited with us is by exercising sound financial management practices.

We ensure the credit union is maintaining enough cash to fund loans and deposit withdrawals for our members, and we invest any excess cash at the Federal Reserve or in a portfolio of government-backed securities.

Because we are a federally insured credit union, each member has coverage of at least $250,000 under the NCUA Share Insurance Fund. We are examined annually by NCUA and the Department of Banking to ensure we remain financially sound.

A message from our management:

“While credit unions like Aspire are not-for-profit institutions, that doesn’t mean we don’t earn profits. It’s what we do with that profit that makes us different. Unlike publicly traded financial institutions, we give our member-owners a return on their investment in the form of lower or no fees for services, low interest rates on loans, and investments in enhancing our member experience. Aspire also spends time and resources on offering our members a wide range of financial education tools and tips in the form of blog posts, instructional videos, financial worksheets, and other resources so that they are prepared for financial success.”

Aspire’s not-for-profit membership model also places emphasis on community outreach. We provide financial wellness outreach to young people through colleges, collect baby item for the underprivileged, organizing blood drive, etc.

We wouldn’t be able to do what we do without the hard work of our staff and their continual pursuit of our organizational goals. We’d love to have you as our member.

Learn more about what makes us great and sign up for Aspire membership.

Credit cards are valuable tools in learning how to manage finances and handle debt from an early age, responsibly.

Your credit score will soon be as important as your GPA. Start building your credit history with low rate Student credit cards from Aspire Credit Union. Your rate stays the same, with no unexpected increases, giving you more control of your money. This low balance credit card is ideal when you’re buying textbooks, a new computer, or ordering in.

FAQ on student credit card

What is a credit score and why is it important?

A credit score is a numerical representation of an individual's ability to borrow a loan with the understanding and agreement that they will pay it back at a later date. Having good or even average credit can be beneficial in the long run, as it can provide access to credit cards with attractive points programs and other exclusive benefits.

What information do I need to apply for a credit card with Aspire?

To qualify for the student credit card, the individual would need to provide proof of age. The member would qualify for a set limit and on the day of their 25 birthday, they would automatically switch to the card with rewards at the respective rate.

How do I save myself from fraud?

We have added an additional security level to our credit cards; it is called Real-Time Decisioning. This system provides better detection and prevention of fraud. Further if you have a lost or stolen credit card it should be reported as soon as possible.

How do student credit cards Work?

It operates in a similar manner to other visa cards; however, it is specifically designed for students. Generally, these credit cards come with a reduced credit limit to assist students in building their credit score without incurring excessive debt. This is an effective financial aid instrument for international students to help them manage their finances and establish a healthy credit score.

Pro Tip: Before considering your own credit card account, make sure you're already making on-time payments with your bills and utilities, as missing payments can affect your credit regardless of whether you have a credit card.

Today’s customers are looking for more than just an institution to help them manage their money. They want to find a place that not only takes care of its members, providing good rates and competitive services, but also contributes to the well-being of their communities, rather than that of their stockholders. 

Here's a radical idea: What if you could join an organization that pools people's money, uses it to make loans and extend credit affordably, offers a range of banking services and never takes a profit? If you like this idea, you might like Aspire credit union.

4 things to know about taking up Aspire membership:

Improving Financial Literacy

Many people aren’t well-versed in the finer points of money management, such as fees and interest rates. When you’re Aspire credit union member, it’s almost second nature to become financially literate. For example, did you know that certain credit unions require a savings account to be set up before a checking account can be opened? Or that a savings account with a credit union can earn you more interest than a checking account at a bank?

Digital Technology

We are enhancing our digital platforms and enhancing digital tools such as mobile banking applications, cardless payments, card control and notifications, online loan portals and payment apps such as Zelle.

Strengthening Financial Well Being

At Aspire, we really want you to succeed. We want to help you save money and give you the freedom to do whatever you want. We want to make sure you get the best interest rate on your car loan, mortgage, or credit card. We make sure to give back to our members by giving them high interest savings and low interest accounts. That's what makes us different.

You’re A Member Of A Socially Conscious Community

Perhaps the most important perk of taking Aspire membership is that instead of simply finding a place to keep and manage your money, you become part of something for the greater good of your community. As a democratically run organization, inclusion of our members is the heart of what makes us unique. We operate for the benefit of our members and only our members. From offering scholarships to our students and sponsorship to local charitable organizations, to financial education to help all our members achieve financial independence and stability, at Aspire we strive to be a vital and beneficial part of our community.

For over decades, Aspire Credit Union has had a steady presence in the North Dakota community. In that time, we’ve continued to grow as a full-service financial institution by offering the best in financial services and resources. As a local credit union, we’ve dedicated ourselves to being a community partner, helping our members improve their financial health, and showing the true credit union difference. We want to give those who may not be familiar with us a chance to get to know who we are at our core with our Aspire membership.

Credit unions are not-for-profit organizations. There is no bottom line to seek and no corporate executives to please

Every decision is from a member voted board of directors. There is a democracy and a sense of control with a union.

A member’s vote carries equal weight, regardless of how much money they have deposited. A member can vote for people in governance that can carry out the best decisions on their behalf.

We are out to educate our customers in everything they need for financial well-being. Numerous age-appropriate money management programs are available.

You can also take lessons on other topics if they are a part of the union’s initiative. We'll work at your pace to ensure that you learn something new and useful.

Read below for three different ways toward your eligibility for an Aspire membership:

Be Local

To become a member of Aspire credit union, you need to have a common bond with the other member; that is if you live in Bottineau, McHenry, McLean, Mountrail, Renville, or Ward counties of North Dakota; you are eligible to become a member.

Family Membership

You can also qualify for membership by being a family member of a current Aspire member.

Other Aspire Membership Eligibility Options

Generally speaking, other ways include options like your employer establishing a relationship with us, and all employees are invited to join. Those who works, worships, or attends school; and businesses, other legal entities could also be an avenue to Aspire membership.

Wherever your life takes you, we're always here to help.

Putting your trust in Aspire Credit Union is about building a strong relationship. Whether it's personal or business, we think you'll appreciate our approach.

Opting for a CD (certificate of deposit) as a financial instrument is a step in the right direction. This article mainly deals with Minot CD Rates, which is exclusive to Minot, North Dakota knowing these rates will help you purchase CDs in an institution with the highest interest returns.

However, before we discuss CD rates, we will examine their benefits. Understanding the relevance of certificates of deposit will be easier if you grasp their primary components. When you buy a CD, you can take advantage of its benefits.

Knowing All About Certificate Of Deposit (CD)

A certificate of deposit is a fixed deposit in which the saved or invested money is untouched for the deposit term. Unlike savings deposits, you cannot withdraw the money deposited as a CD. It offers a good investment option if you have a surplus of money. A certificate of deposit has the following components that define its overall returns general:

The Institution Of Issuance: Generally, people believe that banks exclusively provide a certificate of deposit as a saving instrument. However, you can access this instrument from credit unions too. Whenever you decide to open a certificate of deposit account, you must compare the offers of different institutions. 

The Interest Rates: As discussed above, different banks or credit unions have set their interest rates for certificates of deposits. Among them, opening a CD with Aspire can be beneficial as it offers reasonable interest rates. What be the rates or the interest duration? Your initial deposit sum will increase, and you will see a return. 

The Term Of Deposit: Term of deposit means the amount of time your sum will be withheld under the terms of CD. Many banks offer a CD term minimally at one year, while it can go as high as 5-10 years. If you have no immediate upcoming requirement for the funds, then choose a long-term deposit to receive the best results.

CD Rates Minot ND

The minimum amount of CD deposit ranges from $500 to $ 10,000. However, if you look into the CD rates of Aspire, you will see that it offers great deposit interest rates and the deposit amount can be as low as $1.

End Note

Besides banks, you can also check the CD offers provided by credit unions. One such credit union is Aspire, a community-based credit cooperative. We hope this article was helpful to you and helps you make better financial decisions when it comes to CD Rates!

The Membership Drive with Aspire Credit Union refers to the membership campaign of the organization. This Aspire initiative aims to influence more people to connect with the company for easier and more personalized experiences in loans. Members receive several additional benefits while taking financial aid.

Becoming a member amounts to becoming an owner. Aspire feels that and means that. It is a fabulous journey with higher expectations, amazing rewards, and suitable finances. We always keep the interests of our members on top and strive for a hassle-free experience. It is also a great sense of community, which we value greatly.

Join Hands With Us

Aspire's Membership Drive is a user-friendly campaign to draw your attention toward our objectives. We specialize in providing low-rate loans, especially for start-ups and students. Therefore, if you plan to study abroad, apply for a Student Credit Card today. However, before that, if any of your family members have a Membership Card, you will receive some extra privileges. We provide special offers for membership for our existing members' families as well.

Whether you are working, unemployed, living, or a student does not matter. Aspire has options for everyone. We extend the hand of support for the legal and business entities for all the members. As a member, your dealings will be faster and smoother. Your success is our success.

Selecting The Members

We want our members to receive a profit percentage. We invite you to become a happy partner of Aspire Credit Union. Are you located in any of the areas of Renville, Bottineau, McHenry, and other notified places of North Dakota? We’d be delighted to have you as our valuable members.

Our Membership Drive includes all the conditions necessary to apply for Aspire's Life Membership. However, you can also opt for a temporary membership with a limited duration. We suggest taking the Life Membership to enjoy the highest returns from our entity. Please enter all the details on the inquiry form and submit it with your proper residential address. We will get back to you with a prompt response!

Aspire Credit Union motivates you to aspire to big things without any false claims.

Who doesn’t want to build their house of dreams? Finances can be the biggest issue as you plan for it. Instead of bank loans, you can apply for special home loans from Aspire Credit Union. With Aspire Home Loans, your dream will only be a few steps away. Believe in our expert financers and get ready for unbelievable interest rates.

The home loans cover multiple housing needs, including construction, residential, and HELOC. This implies that interested buyers can get quick credit on very liberal terms. Aspire Credit Union is an Equal Housing Lender and fulfills all your dreams with one click.

Impressive Home Loans From Aspire

Aspire introduces one of the best credit options for obtaining your dream home. Moreover, Aspire Home Loans will give special privileges to first-time home buyers. This includes a very low down payment to get things kicked off!

Check out these policies for Aspire to get the right assistance for home loans.

●  10% Down Payment Policy

Aspire focuses on providing top-quality services, especially to our local community. A 10% down payment is provided so you can get into your new home without breaking the bank. However, this does not apply to all applicants. To qualify for this benefit, you can speak to one of our lending professionals to get you on the right path.

●  Special Program for First Home Buyers

Are you getting a new home for the first time? Aspire Credit Union is the ideal medium to have your dream home constructed or purchased. The loan department considers all your needs and suggests the best credit option for your needs. Learn about the associated costs and how to close the loan within the specified tenure.

●  Mortgage Refinancing

Get the best rates to obtain refinancing for your home. You may also use Aspire's Mortgage Loan Calculator to determine the monthly mortgage amount to complete your project! Moreover, you can also opt for debt consolidation or loan term reduction. Certain restrictions may apply.

Apply For Great Results

Aspire Credit Union wants every dreamer to achieve the target without thinking about financial constraints. If your next step in your life is to purchase a home, look no further to receive the professional help you deserve!

A search for the best vehicles available and conducting due diligence does not have to be a stressful or uncertain process. Having a research plan and implementing it will narrow your list down. Aspire Credit Union can take care of the financing so you can make sure you get exactly the vehicle you’re hoping to find!

Vehicle or auto financing refers to the use of a loan to finance the purchase of a new or used (pre-owned) vehicle. While many people choose to purchase a vehicle entirely with cash, many more opt for an auto loan. Working with us to secure the lowest interest rate possible for your auto loan will save time, energy, and money over the long haul.

Before you apply for your first-time Minot auto loan, remember to:

Determine if you want a new or used vehicle.

Review your credit history.

Explore loan terms.

Research vehicles and assess needs.

Establish a clear budget.

Collect the necessary documentation.

Get pre-approved to get the best possible price at a dealership.

Why get pre-approved before you shop?

Pre-approval helps you understand the total dollar amount you can shop for. Make sure to factor in taxes, DMV fees, and warranties. Also keep in mind that your final APR (Annual Percentage Rate) can only be determined after you’ve chosen the exact vehicle you want, since it’s impacted by several factors including vehicle age, mileage, make, and model.

Lastly, READ before signing. You will need to sign a loan agreement which details all of the information related to your loan. Be sure to read your agreement thoroughly when you finalize your auto loan.

You deserve a personalized service and the lowest possible interest rates for automobile loans. These are things worth considering as you prepare to secure a great auto loan through Aspire Credit Union.

If you’re looking for affordable auto loans from a place you can trust — come to Aspire Credit Union. We will help get you the best rate with the least amount of hassle. Remember to ask about our additional services, such as GAP Insurance and warranty coverage!

Like a bank, only better!

Aspire is a credit union. We offer checking, savings, credit cards, loans, and investments, yet profits are returned back to members in the form of reduced fees, higher savings rates, and lower loan rates. We also offer our members comprehensive financial education with personal attention and service!

We have the resources, staff, and expertise to support our members with unparalleled service and your trust is what we strive for.

Our membership drive is open and it’s time to make us your official credit union!

All our current members are thrilled with our excellent service, local locations, surcharge-free ATMs, and community financial solutions. Plus, members who need more modern conveniences in banking join us for mobile banking services – mobile deposits to deposit checks from home, online banking, and automatic bill pay.

With our competitive rates, our members choose us for their mortgages, car loans, IRA accounts, home equity line of credit, personal loans, student loans, and just about any financial product offered. For this and our personal services, they can even refer their family members to join us!

Not to mention, we have a traditional checking account and savings account with lower fees and great competitive rates. Come on in and see what banking options we have that fit your financial lifestyle. We invite you to join us!

Meet Aspire, your credit union family.

Staying close to the people we serve is fundamental to our success. Being located on South Broadway, we understand and adapt quickly to meet the needs of our local members. Our field of membership includes: anyone who lives, works, worships, or attends school; and businesses, other legal entities, and organizations of such persons; located in Bottineau, McHenry, McLean, Mountrail, Renville, or Ward counties of North Dakota. Our membership drive is open for, but not limited to, immediate families or households of our existing members.

Getting started with Aspire is easy! Simply open a checking or savings account and complete an application or give us a call.

We've been helping families and businesses make more of their finances since 1937. We've shared their dreams, helped make budgets work harder, and built financial plans to last them the rest of their lives. And in that time, we've built a solid track record of service, stability, and reliability.

It's time to join Aspire for a more rewarding banking experience.

Your grandparents may have kept their money behind the solid walls of their local bank, you have options. Among those options, a credit union is worth taking a deeper dive. Banking with a credit union is just as easy as banking with a traditional financial institution. It's possible to do just about everything from opening an account to making deposits from your smartphone, internet, or use surcharge-free ATMs. 

Minot Credit Union is locally owned and our board of directors are elected by members. Decisions about the organization, direction, programs, and policies are driven by the benefits we provide to members. Our board are made up of people who understand member needs and focus on ways to meet those needs, such as, helping members realize their financial goals and build secure futures thereby strengthening the communities.  Furthermore, because we are locally owned and managed, we are vested in, and committed to, making significant contributions to the local area.

Aspire is a community-chartered credit union whose field of membership includes: anyone who lives, works, worships, or attends school; and businesses, other legal entities, and organizations of such persons; located in : Bottineau, McHenry, McLean, Mountrail, Renville, or Ward counties of North Dakota. Our membership also includes immediate families or households of our existing members.

The best part is you can be as involved as you want to be. If you don't have the time to volunteer or serve on the board, you still get a say through your vote. Later, if you find more time to spare, you can always increase your direct participation in credit union affairs.

Minot Credit Union is intended to serve as a safe place for people to save and borrow at reasonable rates. Because of our non-profit status and community-oriented mission, we can sometimes offer interest rates that are significantly different from banks and provide some surprising benefits to our members.

Depending on what you need from your banking relationship and day-to-day financial management, keeping your money with Aspire credit union may help you save on fees, get a higher yield on your savings, receive a better rate on a loan and improve your financial well-being—all while supporting an organization that makes special contributions to the economic empowerment of the community.

Fuel-efficient compact

Family-friendly SUV

Cargo-carrying pickup

You choose your next ride and let Aspire Credit Union get you on your way.

Minot Auto loans are Aspire Credit Union specialty. Generations of members have relied on us for the most affordable financing for both new and used cars. We offer great interest rates and a degree of service and expertise you won’t find just anywhere. And here’s something else to consider – because our rates tend to be among the lowest available, you may want to investigate refinancing an existing loan (you currently have through another lender) with us. It’s a smart choice and a great way to make every dollar count.

If you're already a member with us, you probably already know our requirements for applying for a new or used car loan. However, if you're not a member, and you're thinking of becoming one, you should probably be aware of some general requirements. Speak to our specialist today!

How to find the Minot Auto Loan that fits your budget?

Doing your homework is the key to finding the automobile you want at a fair price and by arming yourself with knowledge and a pre-approved loan; you’ve got the power to negotiate the best deal possible.

Although you have many options when it comes to finding an auto loan lender, you want to choose the right one to maximize your budget while saving time and stress. We're glad you found us. At Aspire, we're member focused and community active. We've been in this community for more than 85 years, helping our members reach a little higher. We get how hard you work to look out for your family and others, and we've got your back. 

We also offer competitive loans for boats, personal watercraft, recreational vehicles, motorcycles and dirt bikes:

Up to 100% financing, depending on credit worthiness

Flexible repayment terms

The name Aspire reflects our energy and dedication to making a difference in the lives of everyone we help and serve. Whether your dream is to upgrade your family vehicle or buy an RV for your next road trip, a Minot auto loans specialist will help you create a personalized plan to get there.

Banking at a credit union works just like banking at any big bank. You have your checking accounts, savings accounts, you can apply for auto and home loans, credit cards, refinance and more, but credit unions are unique by design. Because credit unions are member-owned and not-for-profit, we return any profit back to our members in the form of better rates on loans, better interest rates on savings, better terms on credit cards and fewer or no fees on services. 

Aspire home loans

House hunting has always involved a bit of work but after the Covid-19 pandemic, the search for the perfect home just got a little more challenging.

If you are looking to purchase a new home or refinance your existing mortgage, you’ll want to talk to the experts in Aspire Credit Union. Our Aspire home loan experts have decades of experience helping members like you find exactly the right kind of loan.

Whether you need a conventional 30-year, fixed-rate loan or something a little different, like a jumbo loan or a floating-home loan, we have the right option for you.

You’ll get great advice no matter if you’re buying your first home or you’ve been through the process before. We will take the time to answer all of your questions, so you end up with a loan you’ll love.

Aspire home loans expert do the shopping and comparing for you

Offer multiple options to meet your needs

Provide sound advice to ensure you receive a loan program that's right for you

Keep you informed–you’ll know every detail and step in the loan process with no surprises at the end

One of our unique benefits is only requiring 10% down for those individuals who qualify. 

From residential, construction and HELOC loans, we have you covered

Offer longer service hours, and cell phone numbers reserved for members

Have online service to give you easy access

Provide excellent service and competitive rates

We are an Equal Housing Lender, federally insured by NCUA.

Buying a home could be the biggest purchase of your life. At Aspire Credit Union, we’ll explain the ins and outs of home loans and make sure you understand things. We’re here to answer all your Aspire home loan questions! We look forward to putting our home loan services to work for you!

Buying a car can be like preparing for a road trip — you need to research your route and find the best way to get to your destination. Making mistakes is inevitable, as there's a lot to consider, but awareness is key. This will help to ensure the deal you strike today keeps you smiling for years to come.

Here we will discuss one of your stops enroute to your destination of purchasing a new car – Auto Loans by Aspire Credit Union.

Financing a car through a credit union is similar to other lenders, except for the membership step. Not only do we frequently have lower auto loan rates than banks and online lenders, but we also offer personalized service and a variety of other benefits. 

How do I apply for Aspire credit union auto loan?

Once you qualify as our member, you can apply for an auto loan with low auto loan rates. We will process your application and notify you when your preapproval is completed.

We will review the following to determine your eligibility for an auto loan:   

Your personal information

Your employment and income information

Your credit score

The vehicle identification number (VIN) and mileage for the vehicle you want to purchase

Proof of insurance

After all required information and documentation are received; our representative will contact you to discuss finalizing your loan. It's at this time that you will be told how much you qualify for, your auto loan rate, and other related terms.

You will then need to sign a loan agreement which details all of the information related to your loan. Be sure to read your agreement thoroughly when you finalize. Pay special attention to these components, which affect both your monthly payment and the total amount you'll have to repay:

Loan amount – The size of your loan can be significantly less than the value of the car, depending on whether you're trading in a vehicle or making a down payment.

Annual Percentage Rate – Commonly referred to as the APR, this is the effective interest rate you pay on the loan.

Loan term – This is the length of time you have to repay the loan. Terms typically range from 24 to 72 months, though some go to seven years.

Every person desires to have this safe haven of their own.  

Do you also desire this? Do you need a bigger space or some respite from your nagging landlord? Is a lack of funds is keeping you from chasing your long-held dream? Whatever your reason, you can choose to become a homeowner today.

Buying a new home doesn’t have to be complicated. You’ve been surfing online on property websites for too long, and it’s time to take action with Aspire Credit Union!

A home loan, also referred to as a domestic loan, allows you to buy a property without paying the whole price out of pocket. For that reason, if you’re in the marketplace for a brand new home, it’s best to examine all you could about home loans and the way they work before you get started the complicated process.

Our trusted staff of loan experts is certified and prepared to lend you a supporting hand throughout every stage of the home buying journey.

Benefits of Aspire home loans:

Sense of accomplishment

Capital Appreciation

Low interest rate

Improved Credit Score

Remain Liquid

Refinancing Facility

Due Diligence of Property by Lending Institutions

Long Repayment Tenure

Why should you choose Aspire home loan?

Now that you know the benefits offered by Aspire home loans, you can take the plunge and begin this exciting journey of homeownership today!

Are you ready to apply for an Aspire home loan?

You will require:

Proof of Income

Good Credit

Documentation for all borrowers

Social Security Number

Employment verification

Best estimates of income, assets, and liabilities

After you have finished:

We will contact you

Guide you through the loan process

Complete your loan application package

Help you select the best product and interest rate

Turn to Aspire – we offer customized home loans with easy accessibility, affordable interest rates, and structured EMI options. Visit our website and know more about our home loan offerings today!

Whether you’re a first-time buyer or an experienced house flipper, you may have questions about home loans.

Getting a home loan through a credit union, such as Aspire Credit Union may be preferable to getting one from a commercial bank.

Easier Loan Approvals

Lower Fees

Lower Interest Rates

Community Feel

We are here today to improve the financial literacy of our members – especially those seeking Aspire home loans.

EARNEST DEPOSIT

A deposit made to a seller represents a buyer’s good faith to buy a home. The money gives the buyer extra time to get financing and conduct the title search, property appraisal, and inspections before closing. In most cases, the earnest money is delivered when the sales contract or purchase agreement is signed, but it can also be attached to the offer.

TITLE INSURANCE

It protects you from problems with an ownership title when you buy real estate. Title companies search for problems with the title that need to be corrected before you buy the property. If there is a challenge to your ownership later, your title company will handle the dispute. And this is not homeowner insurance.

REAL ESTATE TRANSFER TAX

Sometimes called a deed transfer tax, it’s a one-time tax or fee imposed by a state or local jurisdiction upon the transfer of real property.

ESCALATION CLAUSE

It’s often helpful in a seller’s market, where there are more home buyers than there are homes for sale. A smart idea when you want to strengthen your offer and edge out competing bids

HOME MORTGAGE REFINANCING

Refinancing refers to the attainment of new Aspire home loans to take the place of an older one. Refinancing is classified as "rate and term" or "cash-out." There are many reasons people opt for a refinance – lower interest rate or shorter time frame.

HELOC

Home equity lines of credit (HELOC) allow you to borrow money using the equity or value of your home as collateral. HELOC rates tend to be lower and maybe a better alternative than a credit card or personal loan, and interest paid may be tax deductible. It’s a great fit for expanding your budget and maximizing your options.

VA RESIDUAL INCOME

It’s more important than a debt ratio because it shows how much income remains for basic living expenses. Three factors determine the minimum amount of residual income you will need to qualify for your Aspire home loan:

Loan Size

Family Size

Region of the Country

Aspire Credit Union offers great rates with fabulous local service. Two of our unique benefits is only requiring 10% down for those individuals who qualify and we are an equal housing lender, federally insured by NCUA.

While banks and credit unions are both financial institutions that offer similar services (checking and savings accounts, auto loans, and mortgages), the main difference between a bank and a credit union is that "customers" of a credit union are members, and they own the institution.

Here are a few things that make a Minot Credit Union different than a bank:

1. Profits

Banks are owned by shareholders and are for-profit businesses. Shareholders own and control how the bank operates.

When you join a credit union you become a member and are not-for-profit. As a member, you are an owner of the credit union and are entitled to one vote, regardless of how much you deposit. This means you can have a say on how your credit union is run.

2. Services

Credit unions often provide services with a personal touch and an understanding of local needs. Because of the smaller size compared to the big banks, and a closer focus on providing services to members, credit unions can be more competitive when offering services, such as more affordable interest rates and lower fees.

3. Loan rates

Because credit unions act with the interest of their members in mind, rates on average are better for credit union members compared to bank customers. Generally, credit unions have higher rates on savings accounts and lower rates on loans and credit cards. Which means more money in your pocket or your account! 

Still need help deciding between a credit union and bank? Some of the benefits of becoming a member of Aspire Credit Union include:

Lower interest rates on loans

Higher interest rates on savings accounts

Access to online and mobile banking

E-statements

Mobile Deposits

Audio Response

Text your CU

Visa Gift Card

Wiring Instructions

ZELLE

Commitment to and investment in the local community

You are the owner of the credit union and have a say over how it is operated

Conclusion

Credit unions and banks each have their perks, and understanding what each business offers is good to know when to choose who to share your financials. Credit unions can keep things affordable for their members. And that means more money in your pocket and more focus on serving your financial needs!

An Auto loan involves borrowing money from a lender, who provides the necessary finances to pay for your vehicle upfront. In return, you agree to pay back the funds in monthly installments with interest, respecting the terms of the contract.

When you’re ready to buy a new car, you can receive financing from a financial institution, like a bank or credit union, or directly from the dealership. However, financing your auto loan from a credit union offers several added benefits to members, including great auto loan rates and flexible terms.

And because of the relationship we, at Aspire, have with our members, sometimes we are willing to work with you if you have less than stellar credit.

At Aspire we provide low auto loan rates for:

1. First-time auto loan borrower

We offer you fast and smooth ways to apply for a car loan. If you live or do business in Bottineau, McHenry, McLean, Mountrail, Renville, or Ward counties of North Dakota. we invite you to open an account with us. Our team of financial experts can help you choose the best auto loan for your budget and needs.

2. Refinancing on both new and used vehicles

If you’re paying a higher auto loan rate, you should strongly consider refinancing your existing car loan. Refinancing an auto loan allows you to get a new loan—ideally at a lower interest rate and with better terms—to pay off your current loan. Contact us today to discuss your auto needs and financial situation.

3. Motorcycles, All-Terrain Vehicles (ATVs), Snowmobiles, and Equipment

Make the most of your playtime with the equipment you need. With low auto loan rates, flexible terms, and no application fees, you'll find a loan to meet your needs. Refinancing options are also available for these recreational vehicles.

4. New and used RV's, Motor Homes, Travel Trailers, and Campers

Whether you view an RV as a fun travel opportunity, a way to reduce your living costs, or both, we are ready and willing to help finance this purchase of a lifetime. We do all the homework for you along with a commitment to customer satisfaction. Or connect with us to see how much you can save by refinancing your current loan with us.

Use our loan calculator on our website to get an idea of what your payments could be with different terms and auto loan rates.