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Pawtucket Credit Union

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Are you considering Pawtucket Credit Union to buy a home or for mortgage refinancing? How does PCU compare to the best mortgage companies online? Here’s my unbiased review of Pawtucket Credit Union services, interest rates and fees to help you make an informed decision for your next home loan without leaving cash on the table.

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Pawtucket Credit Union

Pawtucket Credit Union serves Rhode Island, Connecticut, and Massachusetts.

Should you trust Pawtucket Credit Union with your next home loan? How to they stack up when it comes to interest rates and fees?

Rating by Robert Regehr: 4.0 stars
starfull Pawtucket Credit Unionstarfull Pawtucket Credit Union**

Pawtucket Credit Union Profile

Founded in 1926, Pawtucket Credit Union has 69,678 members and $1,312,297,881 in assets. Their motto is “Providing the Smarter Way to Bank.” According to the NCUA they are not a “Federal” credit union but are federally insured.

Membership in PCU is open to anyone in Connecticut, Rhode Island, and Massachusetts. Accounts are available for individuals and businesses including checking, savings, credit cards, car loans, mortgages and home equity loans.

Pawtucket CU Contact Information

By Phone:

(401) 722-2212
(800) 298-2212

Online:

www.pcu.org
www.ri-loans.com
www.mass-loans.com

By Mail:

Pawtucket Credit Union
1200 Central Avenue
Pawtucket, RI 02861

Pawtucket Credit Union Review

PCU offers a full range of mortgage products and home equity loans from two separate websites at ri-loans.com and mass-loans.com. Purchase and mortgage refinance rates are published online. I was able to request a mortgage refinance quote and received a fee disclosure, something many of the “Federal” credit unions I review don’t offer.

Mortgage rates are available with up to two points but include a zero point option. Discount points are a fee you’ll pay at closing to buy down your interest rate. One point will cost you one percent of your home loan amount, which you’ll pay at closing.

The rates published were competitive with other lenders like Amerisave and Navy Federal Credit Union. Closing costs including the origination fee were also published and happily the origination fee on a $250,000 home loan was only $270!

This is the lowest I’ve seen in reviewing credit unions and amounts to .108 percent. There was a $350 appraisal fee and a $40 underwriting fee. I would consider the underwriting fee to be a junk fee; however, the amount is negligible when you factor in the loan origination fee.

Do you have an opinion or an experience with Pawtucket Credit Union that you’d like to share? Please leave a comment below!

Overall I was impressed with Pawtucket Credit Union. If you can lock the interest rates and fees in writing you could walk away from the table with a very good deal. Remember, If you don’t get your mortgage rates and fees locked in writing they simply don’t exist.

You can learn more about getting the best deal for your next home loan by avoiding unnecessary discount points and fees by checking out my free Underground Mortgage Videos.

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