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Why Choose Lanco Federal Credit Union in Lancaster, PA?

Whether you’re looking for personal or business banking, we still pride ourselves on the personal touch. Just ask our 10,000 members!

Why Choose Us?

3.4/5 (42 Reviews)

All the Banking Services You Need at a Credit Union Near You in Lancaster, PA

As a credit union in Lancaster, PA, we're proud to be able to offer the personal banking services you need, with the benefits you want. Instead of paying shareholders, we return excess earnings to our members through competitive rates on deposits and loans, free rewards programs, lower fees, and so much more.

Personal Banking

Easily manage your personal finances at your local credit union. Enjoy free accounts, low fees, and friendly service.

Free Kasasa® checking
Club savings accounts
Mobile banking
Online bill pay

Loans

Your nearby credit union offers excellent borrowing options with low loan rates and affordable monthly payments.

Auto loans
Home equity loans
Student loans
Personal Loans

Business Banking

Choose a business banking partner that offers free accounts and low-cost services with no hidden strings attached.

Free business checking
Visa® debit/ATM card
Business loans
Business line of credit

Youth Accounts

Your local credit union helps you to teach your children good money habits, from learning to save to building credit.

Youth savings accounts
Report Card Rewards
Youth debit card
Youth checking account

lanco featured benefit image

Featured Benefit for Lanco FCU Members

Get the Best Rates on Auto or Personal Loans

Members enjoy up to 1.00% APR off our already low rates during this limited-time offer. Take 0.25% off for each qualifying account or service you have.*

Finance the purchase of a new or used vehicle
Pay off high-interest credit cards with a low, fixed rate

Membership Benefits & Services

Online Banking

Use our free online and mobile banking services to easily take care of your daily finances.

View balances and history
Make deposits and transfers
Pay your bills, and more

Online Services

Member News

Stay up to date with what's happening at your credit union:

Credit Union Promotions

Lanco FCU membership includes value-added services, discounts, and special offers.

Auto loan refinancing
Free notary service
Retail partner discounts
Loan rate match
Skip a payment

Loan EZ Pay

Need to make an immediate loan payment from your account at another bank or credit union?

Use our BillingTree portal to pay by credit card or e-check. A $5.00 convenience fee applies.

Become a Member Today

Over 5,000 branches nationwide

TruStage Insurance Agency. Looking for insurance protection? We've got you covered. Find out more.

Discounted insurance offerings just for credit union members

Exclusive savings for credit union members

- Investing in Your Future: A Guide for First-Time Home BuyersBecoming a homeowner for the first time is one of the most momentous stages in your life. It’s a huge achievement and certainly one to be proud of. While it comes with a great deal of excitement, buying your first home can be incredibly overwhelming. Between choosing mortgage options, applying for loans, and planning to make a down payment, your head could feel a little rattled. It doesn’t have to be as stressful as it seems. Patience and planning can go a long way in the stages leading up to purchasing your first home. Consider the tips below before taking your first steps. Plan Ahead To Avoid Mistakes in the Home Buying Process Determine how much you can afford Comparing your income with how much you can afford to pay monthly on a mortgage is the first step if you’re ready to buy a home. Consider other monthly financial commitments you may have, such as car payments and student loans. Once you know your monthly budget, you’re one step closer to determining how much you can comfortably spend on a house. Consider your credit score Keeping a favorable credit score helps you to qualify for lower interest rates. Before buying your first home, review your credit reports to check for potential errors. It’s helpful to work on improving your credit score so you don’t get stuck paying high interest rates and spending more of your hard-earned money over time. Explore your down payment options Paying for a house in full is not always an option for first-time home buyers. While some programs allow you to put a down payment as low as 3%, you should try to put more down if possible. In fact, 11% of homeowners under the age of 35 expressed regret in not waiting to make a bigger down payment, according to a survey from NerdWallet. Paying 20% or more gets you out of paying for private mortgage insurance (PMI), which protects the mortgage company in case you can’t make your payments and end up in foreclosure. PMI usually costs 1% of the total loan value and is added to your monthly payments. It doesn’t seem like a high cost month-to-month, but consider how much you could be saving long-term if you put that money toward paying off your principal balance instead. Spend time shopping for mortgage options There are a variety of options available to prospective home buyers when applying for a mortgage to help you qualify for a home. Consider options that fit your needs and come with a doable payment plan month-to-month. One good choice is to take out a Fixed Rate Mortgage, which is a loan in which the interest rate does not change during the entire term of the loan. This means the amount paid monthly won’t change (unless taxes and insurance are included in escrow) making it easy for homeowners to budget during the span of their mortgage payments. Another option is an Adjustable Rate Mortgage where the loan interest rate changes periodically, corresponding with fluctuations in an index. These loans often come with a substantially lower monthly cost than a fixed rate mortgage, at least for the first few years. While the interest rate on adjustable loans starts fairly low, they can rise to above-market value over time. This may be a good option if you plan to make a down payment of more than 20% and are able to pay off your house within 5 to 10 years. Ready To Buy Your Dream Home? At Lanco Federal Credit Union, we want you to succeed financially in the home you’ve dreamed of. We provide our members with access to a variety of mortgage options and expert knowledge through our trusted partnership with State Financial Network. Apply today for your mortgage pre-approval 0/5 (0 Reviews)... Read more...

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