Spartan Federal Credit Union’s one day loan is banking on the solar eclipse
SPARTANBURG, S.C (August 15, 2017) — It’s a celestial phenomenon that has people rushing to Upstate South Carolina to catch a glimpse. In the cast of total darkness, Spartan Federal Credit Union is offering a one day personal loan on August 21 aimed to “eclipse your debt.”
The personal loan with a 8.21% annual percentage rate sheds light on the widely publicized solar eclipse. The loan is designed to help people consolidate their debt into one low monthly payment. Spartan is anticipating quick sales and brand awareness from this limited-time promotion.
“People just can’t stop talking about the total solar eclipse happening in our own backyard,” said Spartan CEO Isaaileen Rankin. “It’s a big deal! Retailers are selling safety glasses to watch the eclipse. Families are coming in from all over to our town to experience it. There’s so much excitement.”
It’s been 99 years since the last coast-to-coast eclipse in the United States. More than 1 million visitors are expected to descend on South Carolina. The next major solar eclipse in the U.S. won’t be until April 8, 2024, and its path will not reach the Palmetto State.
The headline-grabbing promotion was created by the creative agency Your Marketing Co.
“This is a tongue-in-cheek promotion that informs and entertains,” said CEO Bo McDonald. “It’s hard for people to fathom a solar eclipse, but here it is. Something else that you might not think is possible is getting out of debt. And yet, here’s your opportunity, so don’t let it pass. This is a fun and simple campaign that makes the impossible possible.”
Spartan Federal Credit Union has seen significant loan growth in the last 24 months. In June, the $16.5 million credit union reported a return on average assets (ROAA) of 1.22%.
About Spartan Federal Credit Union
Spartan Federal Credit Union is a not for profit credit union organized in 1979. Today, Spartan serves anyone who lives, works, worships or attends school in Spartanburg County. To find out more visit www.spartanfederal.com. Spartan Federal Credit Union is federally insured by the NCUA and is an Equal Opportunity Housing Lender.