LIVONIA, Mich. Co-op Services Credit Union announced it achieved its goal to save members of the community more than $200,000 in auto loan interest through its “Amazing Auto Loan Challenge.”
The challenge offered rates as low as 1.79% for up to 72 months, along with an additional $100 for members who helped the credit union achieve its goal by financing a new vehicle or refinancing an existing auto loan from another financial institution between April 17 and July 31. Everyone who participated was to receive $100 deposited into their account.
“We created the Auto Loan Challenge because we realized that we could save members an average of more than $550 over the life of the auto loan. We wanted to bring that savings to the entire community,” said Lisa Fawcett, Co-op Services’ vice president of marketing. “We give our members special thanks for spreading the word to their friends and family about the challenge. They helped us hit our goal.”
