RALEIGH, N.C. – Members who take out a loan with Local Government FCU will have a chance to have their loans paid off under a sweepstakes introduced by the credit union yesterday.
Five lucky members will be drawn from those who take out loans between Monday and Oct. 31 and they will have those loans paid off, up to $25,000. All loans are eligible except mortgages and payday loans.
That means anything purchased with those loans will be virtually free for the five winners.
The sweepstakes was introduced as a way to drive new lending, according to Erica Hinton, spokeswoman for the $800 million credit union. “We were just brainstorming about ways to get more loans and this was one way we figured to be able to do it,” Hinton told The Credit Union Journal yesterday.
The contest is open to anyone who secures the following loan types: personal, auto (new or used), motorcycle, boat, recreational vehicle, all-terrain vehicle, computer, credit card, or home equity line of credit.
Those who refinance one of these loans from another institution with the credit union also are eligible.
