Provo Postal Credit Union was originally established in 1928. At that time we were known as Provo Postal Employees Credit Union because we served only postal employees in Provo and the surrounding areas. These days our doors are open to anyone with a preference for local, personable money management.
For a limited time, Provo Postal Credit Union is offering rates as low as 4.45% on new and used car loans to well qualified borrowers. Call today to see if yu qualify!
New Directors February 25, 2008As a result of the election concluded at the Annual Meeting of Members held on February 20, 2008, Paul Opfar and Kaleb Ogren will each serve a three-year term. Paul was previously appointed to the board to replace a previous director who resigned. Kaleb is brand new to the board and replaces Jim Webb who chose not to run for re-election. Congratulations to both Paul and Kaleb!
New Website! October 20, 2006Our new website has lots of useful information such as loans and CD rates, a loan calculator, list of repos for sale and useful links. We hope you will visit often to tap this great resource.
| No repos currently listed. |
| Length of Deposit | APY |
| 3 months | 3.00 % |
| 6 months | 3.50 % |
| 12 months | 3.60 % |
| 18 months | 3.65 % |
| 24 months | 3.75 % |
| 36 months | 3.90 % |
| 48 months | 3.95 % |
| 60 months | 4.05 % |
Minimum deposit of $1000.00 required
Please call for more information!
| Conditions | Base Rate | As Low As | Maximum Term |
| 2007-2008 | 8.25 % | 4.45 % | 72 months |
| 2005-2006 | 8.25 % | 4.45 % | 60 months |
| 2002-2004 | 8.75 % | 4.45 % | 48 months |
| 1998-2001 | 11.25 % | 8.75 % | 36 months |
| Conditions | Base Rate | As Low As | Maximum Term |
| Max $5000 | 14.00 % | 9.90 % | 36 months |
| Conditions | Base Rate | As Low As | Maximum Term |
| 2007-2008 | 8.25 % | 5.75 % | 60 months |
| 2004-2006 | 8.25 % | 5.75 % | 54 months |
| 2001-2003 | 8.75 % | 6.25 % | 48 months |
| 1998-2000 | 11.25 % | 8.75 % | 36 months |
| Conditions | Base Rate | As Low As | Maximum Term |
| 2007-2008 | 9.50 % | 7.00 % | 48 months |
| 2004-2006 | 10.00 % | 7.50 % | 36 months |
| Conditions | Base Rate | As Low As | Maximum Term |
| 2007-2008 | 9.75 % | 7.25 % | 120 months |
| 2007-2008 | 8.25 % | 5.75 % | 72 months |
| 2005-2006 | 9.75 % | 7.25 % | 84 months |
| 2005-2006 | 8.25 % | 5.75 % | 60 months |
| 2002-2004 | 10.25 % | 7.75 % | 60 months |
| 2002-2004 | 8.00 % | 6.25 % | 48 months |
| 1998-2001 | 12.75 % | 10.25 % | 48 months |
| 1998-2001 | 11.25 % | 8.75 % | 36 months |
| Conditions | Base Rate | As Low As | Maximum Term |
| 2007-2008 | 8.25 % | 5.75 % | 72 months |
| 2004-2006 | 8.25 % | 5.75 % | 60 months |
| 2001-2003 | 8.25 % | 5.75 % | 48 months |
| 1998-2000 | 11.25 % | 8.75 % | 36 months |
Frequently Asked Questions:
What should I know before shopping for a car?How do I apply for a loan?
What should I know before shopping for a car?
There are a number of potential pitfalls in shopping for a car. Here are a few to keep in mind:
1. If you are trading in your old car don’t expect to get “high book” for it. If a dealer offers you high book for your trade, you can bet the extra money has been added to the price of the car you are buying.
2. Don’t forget that the amount you agree to pay for a car is not the total amount you need. You have to add 6.25% (or more, depending on local tax rates) for sales tax. Property tax is another added expense. The amount is based on the year of the car you are buying: the newer the car, the more the property tax you will pay. Property tax on new cars is $150.00. If you are buying a car from a dealer, you will have to add dealer fees (generally known as “doc fees”). These can range from $50 to $400. Each dealer is required to disclose the amount charged on a sign posted in his office. Look for it. It’s usually on the wall behind the potted plant. If one dealer wants $100 less than another dealer for the same car, watch out for a higher doc fee.
3. A dealer makes money by selling a car at a profit. This is known as “front end” profit. A dealer also makes money by selling things after the sale of the car; things such as financing, paint sealant, disability insurance, extended warranties, GAP Insurance, etc. This is known as “back end” profit. GAP insurance, disability insurance, and credit life insurance are available through the Credit Union as well as financing.
4. If you are buying a car from a private party, make sure you know where the title is. If the seller has a loan on the car, you will need to find out the name of the bank or credit union that has the title, the amount of the loan payoff. Don’t forget that the state will still get 6.25% of what you pay for the car in sales tax. This is collected at the time you register your car. Be sure to factor that into your decision and your loan request.
5. When a new car dealer is offering an unbelievably low financing rate, there is usually a rebate associated with the low rate. You can have the low rate or you can have the rebate, but not both. Find out what the rebate option is. It could be to your advantage to take the rebate and finance the lower cost of the car at the credit union. This is especially true if you are in the habit of paying your loans off early or trading your car in before the loan is paid off. If you take the low dealer financing rate and forgo the rebate, then pay the loan off early, you have forfeited part of your “discount”. By taking the rebate, you get the entire discount up front.
6. If a used car is selling for significantly below book there is usually a reason. One of the most common reasons is a salvage title. You have the right to ask the seller if the title is “branded”. If you have an opportunity to see the title, look for the words “Rebuilt/Restored” printed on the face of the title. This usually means the car has been wrecked or stolen, then rebuilt and sold. This is quite common in Utah now because our laws are more lenient than those of other states. Several businesses in Utah specialize in buying totaled cars from other states to rebuild and sell in Utah. A “branded” title does not necessarily mean a bad car, but don’t plan on it holding its value. You can investigat the vehicle's history on the internet at www.carfax.com. The credit union has a Carfax account if you wish to have us look up the vehicle history. We do not mark up the fee charged to us by Carfax.
7. When looking at a car that you are interested in, jot down the entire VIN number (usually located on the dashboard, visible thru the windshield on the driver’s side). Then call a loan officer at the Credit Union and let us look up the NADA book value for you. We are happy to help.
Car buying can be a pain, but when armed with the right information it can actually be fun! Happy Hunting!
Simply come into the office and fill out an application or click on the link to the right to apply securely online.