Press
BluCurrent offering no interest loan for holiday spending; Disperses nearly $127K in first 7 Days
SPRINGFIELD, IL (December 2, 2013) — For the 2nd year in a row, BluCurrent Credit Union is offering a zero interest Holiday Loan. Details include:
- Up to $1,000 at 0.00% APR with approved credit.
- 12 month repayment period.
- Weekly or monthly repayment options for as little as $19.24 a week.
“Last year’s Holiday Loan went over very well, so offering it again was an obvious choice,” stated Randall Bettis, Senior Vice President of Lending for BluCurrent. “With this loan, our priority is providing our members with an option that will help ease budgeting stress that is often brought on by the holidays.”
Demand for the Holiday Loan has been significant, bringing in heavy traffic to all of BluCurrent’s branches. Within the first seven days of making the loans available, 66 loans have been approved with the amount borrowed totaling over $63,300. An additional $63,000 has been dispersed to members that have taken advantage of the Holiday Loan to also help them lower their interest and payments on other types of loans. These include higher interest credit cards and payday loans.
In total, over $126,428 has been dispersed as a result of the Holiday Loan promotion. BluCurrent plans to continue this promotion through Christmas. In 2012, 260 Holiday Loans were approved, totaling over $532,232 as a result of the promotion (including cross sells).
“The Holiday Loan is especially beneficial because, in addition to helping alleviate some holiday stress, if payments are made on time, this can also help build credit history and even improve credit scores,” added Bettis.
About BluCurrent Credit Union
BluCurrent has over $145 million in assets. They have three Springfield locations, as well as one in Nixa. Through their affiliation in the CU Service Center shared branch network, BluCurrent also provides access to nearly 6,800 additional branches nationwide, and access to more than 25,000 surcharge-free ATMs through the Co-Op Network. They offer unique & affordable financial services to those who work or reside in a 10 county area of southwest Missouri. To learn more, please visit www.blucurrent.org.