American 1 Credit Union offered members the opportunity to spin a wheel of cash when they financed or refinanced a qualifying loan as part of the Refinance My Ride promotion.
Refinance My Ride ran from January 1 through March 31, 2021, and members who refinanced an existing loan from another financial institution or opened a new loan spun a digital wheel of cash to win up to $500. Throughout the promotion, American 1 awarded $8,000 in prize money to members.
"The wheel of cash is an American 1 promotional staple, but to keep members safe, we utilized a contactless digital wheel for this promotion," said Brandi DeRoo, Spring Arbor Branch Manager at American 1. "I had the pleasure of serving a member who won $500 with the wheel of cash. When I told the member what they won, we were both in disbelief! It was really fun to work with them on their auto loan and to see them win the top prize."
The promotion coincided with the credit union's focus on financial wellness and educating its members on the benefits of refinancing an auto loan.
"We've learned over the years that many people do not know they can refinance an auto loan – much like refinancing a home mortgage," said Chris Zegarlowicz, Lending Manager at American 1. "Through this promotion, we were able to bring awareness to auto loan refinancing while helping current and new members with overall financial wellness."