QUESTION FOR DCU AUTO LOAN PEOPLE

[Luscher]

I am about to refinance my auto loan with DCU.

How do you all pay your loan?

What is the best method with DCU?

Thanks

[Rackham94]

I have fixed direct deposit set up. DCU deducts the amount of my paycheck each pay period for the amount of the monthly payment and deposits the funds to my checkings and from there I transfer the funds from Checkings to Auto Loan. This saves 0.25% on interest rate and hassle of moving money over.

[Ragelog]

I opened a checking and started having most of my pay direct deposited with them. Instant transfer from there and I qualify for the .50% APR reduction for doing so. So 1.49% is my rate.

[Luscher]

1. Can I pay from a DCU Savings acct?

2. Can I push payments from my Wells Fargo checking?

[Ragelog]

You could definately bill pay it from another bank. Or send DCU a personal check.

[aubie1kenobie2]

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@Luscher wrote:
1. Can I pay from a DCU Savings acct?

2. Can I push payments from my Wells Fargo checking?

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As long as you do not exceed the max number of withdrawals allowed for savings accounts, I believe you can pay from your savings acct (when paying the principal/monthly payments manually, getting funds from the savings account is provided as an option -- not sure if you can arrnage auto pay using savings account though).

I have DD set up so I really have not needed to push payments from another bank.

[Revelate]

I simply use their CashEdge external transfer to shuffle money into either my Checking or Savings account (usually checking, I only keep the $500 in savings for their current 3% offer) and then transfer from that account.  

Both my personal and business depository accounts are at Chase, and I simply xfer everything from that point to wherever it needs to go.

[Anonymous]

I like Rachham94's advice here.  DCU is pretty awesome.  They will send you a book of stubs for payment etc....But, because you have to be a "member" your dealer will open an account with them and deposit, like $10 to do so.  

Here are your options for paying them each month:

1. Go to a branch and pay with a check.
2. They have other Credit Unions that they are associated with.  If you call them they will give you a list of those in your area.  So, if DCU doesnt have a branch near you, you can pay at an associate branch.  They are typically other Credit Unions.
3. You can use the stickers, and stubs they send you to send them a check.  This is best, of course, if you pay your bills a little early as it takes a few days.
4. You can set up a direct deposit for the ammount each month to your account with them and simply call them and have them take it out or simply transfer the money from your savings to the car loan account online. as Racham recommends.  
5. Finally, you can set them up an account with your current bank online bill pay and pay them online from there.  Problem with that is, some banks are taking as much as eight days to pay.  So watch out that you dont cut it too close. 

The great thing about Credit Unions like DCU is that they are a little easier to deal with than conventional, major banks.  The downside, is that they are not as sophisticated (or so it seems) when it comes to making payments accessable from all angles.   But Racham94 has given you some good advice here.  Good Luck

[Luscher]

I ended up just transferring about 6 months of payments to my savings account at DCU and I set up auto pay from that account to my loan account each month. Makes me not spend that money lol