SPRINGFIELD, Mo. (12/3/12)--BluCurrent CU in Springfield, Mo., is offering a zero-interest-rate Holiday Loan for a limited time that has proved to be in high demand.
Within the first seven days of offering the loan, BluCurrent's branches have disbursed 86 loans, totaling $138,000.
The loan includes:
- Up to $1,000 at a 0% annual percentage rate with approved credit;
- Twelve-month repayment period; and
- Weekly or monthly repayment options for as little as $19.24 per week.
"When making the decision to offer this loan, our priority was to provide an option that would ease the stress that a tight budget can often bring during the holidays," said Randall Bettis, BluCurrent senior vice president of lending.
"Many turn to high-interest credit cards or payday loans, especially this time of year," he added. "Being a local financial institution, we're fortunate that we have more freedom to offer unique types of loans to help save people money."
"We started offering the Holiday Loan the Monday before Thanksgiving, and since then we've seen loan volume in all of our branches increase significantly over this time last year," said Brad Christman, BluCurrent director of branch services.
"While $1,000 may not seem like a lot of money to some people, it's a big deal to those going through a rough patch during the holiday season," Christman added. "It's so rewarding to know that we can help them buy gifts for their kids; help them as they get back on their feet. That's what the holiday season is truly about."