33 credit unions that offer LEOs the lowest interest rates

Buying a new or used auto? Consider using one of these police credit unions


Rates are current as of October 2016, but are subject to change. Check with each bank, specifically, for their most recent rates.

By Andre Wong and Megan Wells, PoliceOne Contributors 

When we think of auto financing, it’s common to let the dealership find the best rate. But as a police officer, you are entitled to special rates at many financial institutions. Some of the best rates can be found at credit unions.

Credit unions and banks share many of the same functions. Both can make loans, issue checks and credit cards, and offer investment services. The difference? Since credit unions are owned by their members, they can offer lower fees and interest rates.

We measured current starting interest rates at a big bank, Wells Fargo, and compared starting interest rates for nearly 100 credit unions across the country to find the best deals. If you’re on the market for a new or used auto, check these rates out before applying for financing at the dealership.

For reference, here are current starting rates for Wells Fargo:

New purchase (from dealer) 3.14 percent
Used purchase (from dealer) 3.60 percent
Used purchase (private party) 6.38 percent
Why choose a police credit union over a bank?

Since banks are for-profit companies, they are obligated to make money for their shareholders by collecting fees, charging interest on loans, and reinvesting their account holders’ money.

Credit unions are not-for-profit organizations that not everyone can join. Their members, in this case police officers, band together to provide lower interest rates and fees. Because they have lower overhead costs than large banks and also don't have to pay corporate income taxes, credit unions are able to pass on the savings to their members. Any profit they make is either redistributed to their account holders or reinvested back into the organization. 

In general, credit unions act in the interest of their members and focus on affordability. Credit unions may eliminate some services you'd expect from a bank to reduce the amount of required fees. Police credit unions also offer lower interest rates on loans and credit cards than national banks.

The police credit unions below all list lower starting at interest rates for autos than Wells Fargo, depending on your credit score and lease terms. If there's one near you and you're comfortable with their terms, switching to a police credit union could cut your auto interest rates by a substantial amount.

State Credit Union Starting Rate
All PenFed 1.49 - 2.99 percent
California Los Angeles Police Federal Credit Union 1.49 - 8.25 percent
California SF Police Credit Union 1.74 - 3.49 percent
California Fresno Police Department Credit Union 2.25 - 3.25 percent
Colorado Aventa Credit Union 2.99 - 19.99 percent
Connecticut Bridgeport Police FCU 2.99 - 5.99 percent
Connecticut Waterbury Police Federal Credit Union 3.00 - 3.99 percent
D.C. Police Federal Credit Union 1.24 - 4.24 percent
Delaware Delaware State Police Federal Credit Union 2.00 - 8.95 percent
Delaware Wilmington Police & Fire Federal Credit Union 2.00 - 8.99 percent
Florida United Police Federal Credit Union 1.49 percent
Hawaii Hawaii Law Enforcement Federal Credit Union 1.50 percent
Iowa Des Moines Police Officer's Credit Union 1.24 - 4.24 percent
Iowa Police Federal Credit Union of Omaha 1.75 - 4.50 percent
Illinois Illinois State Police Federal Credit Union 2.40 - 2.65 percent
Indiana Cincinnati Police Federal Credit Union 2.24 - 3.74 percent
Indiana Professional Police Officers Credit Union 2.50 – 3.00 percent
Kentucky Cincinnati Police Federal Credit Union 2.24 - 3.74 percent
Maryland Police Federal Credit Union 1.24 - 4.24 percent
Maryland Delaware State Police Federal Credit Union 2.00 - 8.95 percent
Michigan Toledo Police Federal Credit Union 2.9 - 7.5 percent
Missouri St. Louis Policemen's Credit Union 2.5 - 7.99 percent
Missouri Greater KC Public Safety Credit Union 2.49 percent
North Carolina Emergency Responders Credit Union 1.49 - 5.09 percent
Nebraska Police Federal Credit Union of Omaha 1.75 - 4.50 percent
New Jersey Trenton NJ Police Federal Credit Union 2.49 - 7.49 percent
Ohio Cincinnati Police Federal Credit Union 2.24 - 3.74 percent
Pennsylvania Delaware State Police Federal Credit Union 2.00 - 8.95 percent
Pennsylvania Greater Pittsburgh Police FCU 2.25 - 6.99 percent
Pennsylvania Police and Fire Federal Credit Union 1.99 - 4.74 percent
Texas Houston Police Federal Credit Union 1.74 - 3.49 percent
Virginia Delaware State Police Federal Credit Union 2.00 - 8.95 percent
Virginia Richmond Virginia Fire Police Credit Union 1.99 percent


Are we missing a credit union? If you're a member of a local police credit union, please let us know in the comments below so we can add your organization to the list.

Recommended for you

Join the discussion

Copyright © 2019 policeone.com. All rights reserved.