5/3 Has Lousy Interest Rates

Bank Loan

A few weeks ago I purchased a used vehicle and needed less than $5,000 to complete the purchase.  I have near perfect credit, with a FICO score of over 820 and have many accounts with 5/3 Bank, which date back years.  I have everything from savings accounts, checking accounts, business accounts, to even my mortgage.  But for some unknown reason, they were way out of the ball park when it came to a small loan interest rate.

I found that the best interest rate locally was with Heritage Federal Credit Union.  I had a small savings account with them, which allowed me membership benefits.  These benefits included being approved for a small used car loan for a 48 month term at 6% interest rate.  That's a huge difference, that if I let the loan mature, would save me hundreds of dollars going with Heritage.

The good news is that the loan is already paid off, since I was only waiting on the sale of my other truck for the cash.  The bad news for 5/3 is that Heritage Federal Credit Union in Evansville has earned my business.  Over the course of the next month I will be changing over all of my accounts to them and eventually my mortgage, once I have enough to refinance.

Good riddance 5/3 bank!