Drive green with reduced-rate loan from credit union
Looking to drive green?
The St. Thomas Employee Federal Credit Union can steer you in that direction with a 1 percent reduction on vehicle loan rates for purchase of any new or used alternative fuel or hybrid vehicle that is eligible for a title at the DMV.
The payback on a six-year, $25,000 loan would be $846 less on a hybrid than on a conventional vehicle at the credit union’s base rates.
Federal tax credits, still available on some vehicles, and reduction in insurance rates being offered by some companies, also need to be considered by purchasers, points out Adrienne Sturm, credit union manager.
The time it takes to pay back the initial higher sticker price of an alternative fuel or hybrid vehicle with savings at the fuel pump varies by model, but as gasoline prices rise, this time decreases, Sturm added.
For more information about loans and saving programs offered by the credit union, e-mail, or call (651) 962-6660. The credit union is located in Room 209, Loras Hall, on the university’s south campus. The credit union is open from noon to 3 p.m. Mondays, and 10 a.m. to 1 p.m. Tuesdays, Thursdays and Fridays; it is closed Wednesdays.