Texas Tech Federal Credit Union is trying to help students beat rising gas costs by teaming with the university to offer interest-free loans up to $500 to buy a bicycle.
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The one-year loans will be offered this fall to any students who buys a bike at a local shop. The $57 million-asset credit union said it is trying to guarantee a 24-hour turnaround on the loans.
In addition to advertising at local bike shops, the credit union plans to set up a booth at Texas Tech University's Fall Welcome Week.
