[Ogden, February 10, 2016] – Applying for a loan with a poor credit score is risky business on its own, but more so if it’s done with a bank. Thankfully, Wasatch Peaks Credit Union proves to be a reliable alternative.

Banks Vs. Credit Unions on Loans with Poor Credit

Banks are tough nuts to crack when it comes to people who have a poor credit score but want to take out loans. Most of the time, applications get axed because lenders see the borrowers as risks. It is business at the end of the day, after all, and banks are typically logical in their decision to reject a loan application in these terms. Who is to say that this client, with a sub-par history of repayments to his name, would do it differently this time around?

This is why Wasatch Peaks Credit Union, and all of its counterparts, exist. Credit unions are similar to banks in most cases, except in ownership. Unlike banks, credit unions are owned by their members who share the same goals and/or industries. Credit unions basically pass along earnings to members in often lower fees and high-quality customer service.

The Perks

Wasatch Peaks Credit Union is far better than big banks. For one, the ownership does not consist of purely profit-seeking shareholders. As a community-based organization, Wasatch Peaks Credit Union is more than willing to look beyond poor credit history. The organization can work to have their clients’ credit histories matched with appropriate loan terms at the end of the day. Furthermore, it is a universal truth that loan rates with credit unions are far better than in big banks. Data from the National Credit Union Association found out that the average interest rate on a 48-month term car loan was almost twice as less than those from big banks.

Poor credit history or not, Wasatch Peaks Credit Union has been helping clients day in and day out, and it has no intention of slowing down.

About Wasatch Peaks Credit Union

Wasatch Peaks Credit Union was born out of a merger between multiple small-scale credit unions on July 1, 2011. Since then, the organization has been aptly serving members based on their core values, service mission and promises, and culture, offering top-notch products and services along the way. Working together with the community, they strive to exceed expectations one member at a time.

For more information on other services of Wasatch Peaks Credit Union, visit their website at https://wasatchpeaks.com.