CU Is Paying Off Member Loans In Contest
RALEIGH, N.C.–Local Government FCU is rewarding members who take out loans during the current economic slow down with a contest with a unique prize: LGFCU will pay off the winners’ loans.
“At many financial institutions, loans are now hard to come by,” says LGFCU President Maurice Smith. “Not at LGFCU. We have low rates and money to lend. We want to reassure borrowers that now is a good time to take out a loan with a responsible, stable lender. We think this contest is a great way to reward those for trusting us with their finances.”
The contest is open to those who secure the following type of loan: personal, automobile (new and used), motorcycle, boat, recreational vehicle, all-terrain vehicle, computer, credit card or home equity line of credit. The contest also extends to those who refinance one of these loans from another financial institution. It excludes mortgages and Salary Advance Loans.
The contest runs from May 12 to Oct. 31, 2008, after which five names will be drawn to have their loans paid off by LGFCU.
Robber Pepper Sprays Everyone in Fibre FCU
KELSO, Wash.–An armed man lined up employees and members of Fibre FCU and pepper sprayed them before making off with a bag of cash.
Upon leaving, the robber took off his ski mask and said, “Good day, gentlemen,” to two men outside the credit union, according to police.
The robber brandished a semiautomatic handgun when he entered the credit union early last week. He ordered an employee to fill a bag with cash, lined up the other workers and a customer against a wall and pepper sprayed them –and when the employee returned with the money, he pepper sprayed her, too.
Four Captured After Robbery
BERKELEY, Calif.–Oakland police recovered $6,000, a cache of guns and arrested four men following a takeover robbery at Cooperative Center FCU.
The suspects entered the credit union just before noon wearing surgical-style face masks. They ordered the 20 employees and one member to the ground and demanded employees hand over all the money, police said. A female teller was punched in the back of the head by one of the men, but her injury was not severe enough to be transported to a hospital.
Police chased the suspects’ getaway car at speeds up to 50 miles an hour before the suspects’ vehicle crashed and three of the occupants were arrested. The fourth suspect ran off and was found hiding under a balcony at a nearby apartment complex.
CU Takes Payday Loans On The Road
APPLETON, Wis.–Prospera CU said it is expanding its GoodMoney payday loan program to Green Bay, where it will be offered inside a new Goodwill store being opened there.
GoodMoney, which is offered in conjunction with Goodwill Industries, charges low fees and rates and financial counseling for participants.
Prospera CU has been offering the payday product at all five of its branches in Appleton, Neenah and Menasha since June 2006.
Since Prospera CU and Goodwill Industries of North Central Wisconsin launched the service in Northeast Wisconsin, more than 10,000 GoodMoney payday loans have been processed totaling more than $3.4 million.
SAFCU Inks With Online Resources
SAN ANTONIO–San Antonio FCU said it signed a multi-year agreement for online account opening with Online Resources Corp.
Online Resources said its account opening service is an end-to-end solution that enables new members to enroll quickly and conveniently through the Web. The account opening service performs instant identity verification via connections to multiple credit reporting agencies, OFAC and other third parties. Real-time host system integration eliminates redundant data entry and paperwork by staff members.
The $2.5-billion credit union chose the service because it provides another tool for acquiring new members and cross-selling services to existing members, while at the same time saving valuable processing time and costs.
