Low-Carb Loan Promotions Are Spreading

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The low-carb craze is spreading among credit unions.

Among the latest to give members a low-carb option is NW Preferred FCU here, which has introduced a "Low CARB Loan." NW Preferred's program follows a similar pitch being made by Escambia County Employees CU, Pensacola, Fla., which has been using a similar promotion tactic.

"We thought we would have some fun and jump on the low carb bandwagon," said NWPFCU's Director of Marketing, Jim Hier. "It seems everywhere you turn these days people are offering a low carb version of something, so we figured why not loans?"

In the credit union's case, the "CARB" in Low CARB actually stands for "Certified Annual Rate Benefit."

"We are simply repositioning a rate discount program we already had in place for members that take advantage of other credit union programs, such as automatic loan payments and direct deposit," said Hier.

The Low CARB Loan is an 18-month unsecured personal loan that allows members to borrow up to $10,000. Members are able to trim 31/44% off stated rates under the Low CARB program. Low CARB rate reductions are also available on other credit union loans including vehicle loans.

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