Disclosures
Texas Educators Rewards Credit Card – Texas Educators Rewards Credit Card is only available to school employees within the state of Texas. 0% APR* on all new purchases and balance transfers to a new GCEFCU credit card for six months, beginning from the date of opening your card. After six months, your rate will convert to a standard APR* of 6.99% – 18.00% APR* based on your credit score. Credit qualifications apply.
0% Interest Rate for Your First 6 Months with a GCEFCU Credit Card – *APR=Annual Percentage Rate. 0% APR* on all new purchases and balance transfers to a new GCEFCU credit card for six months, beginning from the date of opening your card. After six months, your rate will convert to a standard APR* of 6.99% – 18.00% APR* based on your credit score. This offer does not automatically approve you for a GCEFCU credit card. GCEFCU reserves the right to cancel this promotion at any time, for any reason.
Teacher Mortgage – To apply for a Teacher Mortgage Loan at least one applicant must be a current teacher or school employee for at least 2 consecutive years in a Texas school district. All applicants must have a credit score of 680 or higher and a 43% debt-to-income limit. Maximum loan amount is $250,000 for single applicants and $400,000 for joint applicants. Applicants may finance up to 103% LTV. Additional 3% is to be utilized for closing costs only – No cash back and no “coverage” for a lower appraised home permitted. This program is intended for primary residences within the state of Texas only, not vacation homes or investment properties. Other conditions may apply.
Loan Discounts – *APR=Annual Percentage Rate. Maximum discount is 1.00% for auto loans, 0.75% for boat, motorcycle, and RV loans, and 0.50% for personal loans.
No Payments for 90 Days – Deferment is NOT available on loans already financed with Gulf Coast Educators FCU. Your rate will be based on the term of your loan and creditworthiness. Interest will continue to accrue during the deferral period and by electing to defer your car payments, the total interest charge will increase and extend the time required to pay your loan in full based on your required monthly payment. GAP insurance may not cover skipped payments.
Skip-A-Pay Disclosure – There must have been 3 monthly, 6 semi-monthly or 6 bi-weekly payments made on a loan to qualify. To skip a payment on your auto loan, you must have current insurance on your vehicle. You cannot have received an extension the month prior to the skip a pay request. If you take advantage of the skip a pay, you will not be eligible for an extension the following month, or for the next available Skip-A-Pay promotion. The credit union allows a maximum of 2 extensions/skip a pays per year per loan if the loan qualifies. Request must be submitted a minimum of 1 week in advance of loan due date. Loans secured by Real Estate, Term Loans, Credit Card, 12-12-12 Loans, or Delinquent Loans are not eligible. If your loan is paid weekly, bi-weekly or semi-monthly, the agreement will allow you the “Skip-a-Pay” for two payments during the selected month that you choose. New loans do not qualify for “Skip-a-Pay’s” unless three month’s worth of payments have been made.
$250 Cash Back Disclosure – Auto loans financed with Gulf Coast Educators FCU between May 3, 2021 – December 31, 2021 and meet the following qualifications will receive $250 cash back. Loan must be a new or used auto, or outside refinance. Credit Union InDirect Lending (CUDL and CUAC) loans, and any other 3rd party loans, not eligible for rebate. Purchase of a new or used car must be from a franchise dealership. This promotion is effective 05/03/2021. Refinancing of existing GCEFCU Auto Loans not eligible. Minimum loan amount must be $15,000 or greater. Loans funded before or after the promotional dates of May 3, 2021 through December 31, 2021 do not qualify. The $250 cash back bonus will be deposited into the primary borrower’s primary savings account once the loan is funded. Co-borrowers and joint applicants do not qualify for the $250 cash back. GCEFCU reserves the right to cancel this promotion at any time for any reason. Offer expires December 31, 2021.
$1,000 Credit Card Approval Disclosure – Members who finance an auto loan with Gulf Coast Educators FCU between May 3, 2021 – December 31, 2021 and meet the following qualifications will receive a guaranteed $1,000 credit card approval with the funding of the collateralized loan. Loan must be a new or used auto, or outside refinance. Credit Union InDirect Lending (CUDL and CUAC) loans, and any other 3rd party loans, not eligible for rebate. Purchase of a new or used car must be from a franchise dealership. This promotion is effective 05/03/2021. Refinancing of existing GCEFCU Auto Loans not eligible. Minimum loan amount must be $15,000 or greater. Loans funded before or after the promotional dates of May 3, 2021 through December 31, 2021 do not qualify. Guaranteed credit card approval is for the primary borrower only and not applicable to co-borrowers or joint applicants. Proof of credit and/or income will not be required as long as the auto loan is funded prior. Member must not already have a current GCEFCU credit card account. GCEFCU reserves the right to cancel this promotion at any time for any reason. Offer expires December 31, 2021.
Refer a friend Disclosure – Gulf Coast Educators Federal Credit Union is federally insured by the NCUA. To receive $50 referral bonus, you must be a member of Gulf Coast Educators FCU in good standing with no charged off or delinquent accounts or loans. When someone you referred opens a new GCEFCU membership with a savings and checking account using your personal referral link, we will deposit $50 into your GCEFCU checking account, and $50 into their new GCEFCU checking account. Rewards will be deposited within 7-10 business days. Both individuals must be 18 years or older. A minimum balance of $5 is required to open and maintain a GCEFCU membership. Offer expires within 90 days of original referral date. Additional terms and conditions apply. Click here for full terms, conditions, and requirements.
