WEST PALM BEACH, Fla. -
RALEIGH, N.C.-State Employees' Credit Union (SECU) Board of Directors has approved a "Green" Car Loan program. The program is designed for members purchasing new Hybrid and Alternative Fuel vehicles that are more environmentally friendly and less dependenton petroleum-based fuel.
Loans will feature a rate 1% lower than SECU's current new vehicle loan rate, making the product even more appealing. SECU's Board opted to provide a "Green" Car Loan for clean-fuel vehicles to emphasize the Credit Union's commitment to energy conservation efforts. SECU's "Green" Car Loan comes on the heels of a recently established "Green" Mortgage program launched in September of 2006.
Commenting on SECU's new "Green" Car Loan program, David King, SECU Board of Directors Chairman states, "Presently, Hybrid and Alternative Fuel vehicles are more expensive to purchase than petroleum based fuel vehicles. Given today's fuel costs and the outlook for demand on petroleum based fuels in the future, there is an increased need to provide reasonable financing options for members considering vehicles which reduce the consumption of petroleum based fuels. As SECU members make a choice for conservation, SECU's Board is committed to making their choices more affordable."
TALLAHASSEE. Fla.-Envision CU said it is reducing car loans by 1% (100 bps) for eco-friendly vehicles, like hybrids.
The "Go Green, Save Green," campaign will save an average carbuyer $700 on a $20,000 loan over $36 months.
The Go Green, Save Green promotion will run through Oct. 31 and cars averaging 30 miles per gallon or more will qualify for the "Green Rate." New vehicles must have less than 15,000 miles.
SAN JOSE, Calif.-Technology Credit Union has introduced a "Green Car" loan program offering special lowered interest rates on new hybrid cars. "Tech CU's goal with this new product is to help save its members money on gasoline, protect the environment and help strengthen national energy security-one car loan at a time," the credit union said. If eligible for all available discounts, including the .25% APR discount for the green car, members could receive as much as 1.25% off the everyday rate.
RALEIGH, N.C.-Proving their commitment to the environment and to energy conservation efforts, Local Government Federal Credit Union offers "green" car loans on new hybrid and alternative fuel vehicles in an effort to reduce harmful pollutants and exhaust emissions.
"We are always looking for new ways to improve the lives of our members," said LGFCU President Maurice Smith. "But being able to offer our members an incentive to reduce the consumption of petroleum based fuels is not only good for them, it's good for everyone."
Due to many of these vehicles being more expensive to purchase, "Green" car loans will carry an interest rate that is one percent less than the current new vehicle rate. To qualify as a "Green" car, the vehicle must be listed with the US Department of Energy. Approved vehicles can be found by visiting www.fueleconomy.gov.
MALENY, Australia-The Maleny and District Community Credit Union here has developed what it calls its Green Appliance Loan, designed to provide homeowners an incentive to "think green" when purchasing major home appliances.
The loan has a low interest rate and can be used for solar or gas hot water systems, composting toilets, organic waste water treatment systems, insulation, rain water tanks and alternative electricity generation systems. Maleny's tagline: "Sustainable Banking."
