Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU sets loan growth record at branch opening
BELOIT, Wis. (11/15/11)--First Community CU, with $74 million in assets, Beloit, Wis., approved more than $1.2 million in loans on Saturday during a branch opening.

First Community CU, based in Beloit, Wis., approved more than 70 loans totaling $1.2 million during a branch opening on Saturday. By 8 a.m. (CT) there were more than 50 members were lined up waiting for the loan sale to begin. (Photo provided by First Community CU)
The credit union held a $2 million loan sale to celebrate the grand opening of its new Janesville office.

The promotion featured loan rates as low as 0.99% for the first $500,000 in loans, 1.99% for the next $500,000 in loans and 2.99% for the remainder.

The first members lined up at 4 a.m. (CT) to guarantee them the lowest promotional rate.  By 8 a.m. more than 50 people were in the queue.

The loan sale ran from 9 a.m. to 12 a.m. with more than 70 loans approved. That is a loan approval almost every 2.5 minutes.

"This is by far the most successful one-day loan sale we have ever had," said Jack Gill, First Community CU president.


RSS





print
News Now LiveWire
16.9% of U.S. homeowners underwater, down from peak 31.4% in 2012, reports @zillow http://t.co/EbILqY1HMz
14 hours ago
Breaking at #NewsNow: President Obama signs IOLTA bill into law. http://t.co/5N741Bygmn
15 hours ago
.@edmunds says the week between Christmas and New Year's is the busiest car shopping time of the year.
16 hours ago
.@CFPB sues Sprint for cramming 3rd-party service fees onto consumers' bills http://t.co/mhlMWqLKku
16 hours ago
#HomeDepot #databreach lawsuits consolidated in Georgia http://t.co/A4bei5z0mV
17 hours ago