Bostons Medical Area FCU Saves Members Via Loan Refi Program
BROOKLINE, Mass. – Medical Area FCU said its Sit and Save Program, which refinances loans made at other lenders, has saved members $300,000 since it was launched in April.
The goal is to save members $1 million collectively in 2011.
During a Sit and Save appointment, a member meets with a credit union employee to review his or her current loans. If the credit union cannot help the member save money, it will deposit $25 into the member’s share savings account. The credit union also offers financial counseling with Money Management International.