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 dependent on 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 this year.
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."
