ElecTel Cooperative FCU Groundhog Day Promotion pays off for members

Raleigh, NC (February 3, 2014) – Electel Cooperative Federal Credit Union offered members the opportunity to take six weeks without payments on their auto loans as part of a Groundhog Day promotion that kicked off in December. “It paid off this morning when Phil saw his shadow” said Nancy Long, CEO of ElecTel Cooperative. The promotion promised members that moved an auto loan from another financial institution to ElecTel, or did a new auto loan with the credit union between December 26th 2013 and January 31st 2014 six weeks of no payments if the Groundhog saw his shadow this morning. “Hopefully it will make the six more weeks of winter a little more bearable, especially after the winter weather we’ve had this past week” Long said.

The credit union booked over $600,000 in new auto loans as part of this promotion.

Electel Cooperative Federal Credit Union is a member owned financial cooperative with membership open to consumers of all 27 North Carolina electric cooperatives and well as employees and their family members of all 27 North Carolina electric cooperatives. Employees, directors, and officers of the electric and telephone cooperatives in NorthCarolina, Virginia, Maryland, Delaware, Tennessee, and West Virginia are also eligible for membership.


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