We’re heading into our busy season at the credit union and I am excited that we are doing so with open lobbies, some great new staff, and awesome opportunities for our members!
While drive-up only service allowed us to remain open throughout the last few months, even with staffing difficulties, we are happy to have so many new team members joining the credit union and helping us welcome you back at each of our locations. Thank you to our members for your patience as we navigated these challenging times. Please stop by to say hello to our staff, hear about new opportunities, and complete your banking needs in-branch once again.
We also invite you to stop by our newest branch in Nashua conveniently located at 190 Broad Street, just off of Exit 6, and check out our Interactive Teller Machines (ITMs). We’ll be celebrating our 1-year anniversary of this location throughout the summer. Be sure to follow us on social media and make sure your email is up-to-date to hear about some fun events we’re planning in the area!
We are also hard at work on our new Rochester location at 7 Two Rod Road! This branch will feature three drive-up ITM lanes, concierge service inside with a three ITM Teller Line, private offices for members to conduct business, ample parking, and more! This location is slated to open this summer. We cannot wait to start sharing the #LIVEBOLDNH experience with the Rochester community and surrounding areas!
As for our members’ needs, we understand the difficulties being faced but rest assured GSCU is here for you through it all. Building supply shortages are one of the issues so many of us are experiencing this year. With low home and auto inventory, it can be a difficult time to buy. January home inventory saw a median listing increase from $379,000 in 2021, to $460,000 in 2022 and home listings dropped from 1,020 to 804. I also recently saw an email that homes are selling 13 days faster than they were at this time last year.
As you face this struggle, keep in mind that GSCU mortgage pre-approvals are valid for four months, allowing you the time you need to search for your new home. Even if you are unable to find the right house for you in that timeframe, you can extend your preapproval for another four months by supplying an updated paystub and your credit score being reviewed once again for changes. We also suggest setting up alerts on your phone for new listings to make sure you are seeing new inventory as they come on the market. That ensures you see the houses you’d be interested in right away!
In terms of building supply shortages, we suggest considering a Home Equity Line-of-Credit versus a Home Equity Loan for some situations. If you are unable to purchase the supplies, or aren’t paying for the project for some time, a line-of-credit is a better option because you don’t have to make a payment until you start utilizing the funds. This offers the flexibility of having funds available, without needing to make payments until you are ready to begin your renovation project!
For your vehicle needs, we are excited to announce the return of our member-favorite promotion, Anything that Moves! Now you can finance, or refinance, virtually anything that moves starting at one low rate – 1.91% APR!* This is a great option for members who are in the market for a new or used car, or a fun ride to enjoy the warmer months ahead! And don’t forget – you can refinance your loan from another institution to GSCU and save. This is a great option for those who may love their existing vehicle but want to reduce their monthly payment with a lower interest rate.
At GSCU, we continue to focus on helping members. Whether that is convenient banking, saving money on loan payments, or providing financial education. In March, we held our first virtual financial education seminars of the year with our First-Time Homebuyer and First-Time Auto Buyer series. We’ll be hosting these seminar topics again later this year, and we are also excited to be offering a Retirement Seminar and a Credit 101 Seminar coming soon! These topics will help you understand the ins and outs of retirement planning, as well as credit scores and reports. We invite you to attend either of these seminars and watch for future topics and seminar dates coming soon!
As always, you can share feedback by contacting me directly via our “Talk to the CEO” button on our homepage. The Executive Team, including myself, monitor these emails so we can respond quickly to assist you. Your feedback helps guide us as we are always looking for ways to better serve our members. Thank you for reading our update, being a member, and telling your friends and family about the GSCU experience!
Here’s to the warmer months ahead and continuing to live boldly with Granite State Credit Union! Thank you.
*Annual Percentage Rate (APR) based on $35,000 loan, including $95 origination fee with a 42-month term, at a simple rate of 1.75% and monthly payments of $862.12. Estimated monthly payment does not reflect the additional cost of insurance. Rate and terms determined by credit history. Rate accurate as of 4/1/2022 and subject to change. Other rates and terms available. Collateral must be 2015 or newer. Offer excludes tractors, trailers and commercial vehicles. Limited time offer. This credit union is federally insured by NCUA.