COLUMBUS, Ind. — The tailgate on "Steve P's" old truck is rusted shut, the frame is bent, and he can drive it without keys-and that might win this CU member $500 from Centra CU.
The $800-million Centra is winding down its Worst Clunker in the World contest that rewards one member with a wreck $500 off an auto loan payment. The CU is encouraging members to send in photos of their heaps and briefly explain why their clunker is the worst.
Steve P., which is how the member signed his entry, will have to wait until Sept. 30, when the contest ends, to find out if he's won, pointed out Nan Morrow, VP-Corporate Development. "We thought it would be a fun way to tie in with folks who were already thinking about getting rid of an older vehicle because of Cash for Clunkers and to promote loans with Centra."
The credit union is not taking the trades, only handing out the $500 and hopefully more loans. Centra had over a half dozen entries at press time, with some interesting comments appearing beneath the car photos on the credit union's Facebook page. One car is up on blocks, with the owner noting, "It has more rust than paint."
Using the CU's Facebook page, which is linked to off Centra's website (
Cash for Clunkers gave Centra the idea for the promotion, but the inconsistency of the government program — with it running out of money and then coming back — concerned Centra. "We did not want to be in the middle of what seemed to become a tentative program," said Morrow, explaining that the member's trade-in did not have to qualify for Cash for Clunkers to be part of the photo contest.
Centra is promoting the campaign in branch, on its website, and through radio and newspapers. In addition to the "Worst Clunker" campaign, Centra is running an auto loan payoff promotion from June 15 through Dec. 15. One member will receive an auto loan payoff of up to $15,000. Members who open a loan with Centra during that period are entered into the drawing.
