BluCurrent Offering No-Interest Loan for Holiday
BluCurrent Credit Union is offering a zero interest holiday loan for a limited time. Details for the holiday loan include:
- Up to $1,000 at 0.00% APR with approved credit.
- 12 month repayment period.
- Weekly or monthly repayment options for as little as $19.24 a 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,” stated Randall Bettis, senior vice president of Lending for BluCurrent.
“Many turn to high-interest credit cards or payday loans, especially this time of year. Being a local financial institution, we’re fortunate that we have more freedom to offer unique types of loans to help save people money.”
Demand for the holiday loan has been significant, bringing in heavy traffic in all of BluCurrent’s branches. Within the first 7 days of offering the loan, they have disbursed 86 loans, totaling $138,000 as a result of the program.
“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,” noted Brad Christman, 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. 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.”
BluCurrent plans to offer holiday loans as long as possible throughout the holiday season, but that will continue to rely on demand.
“We don’t have a particular goal for the number of holiday loans we can or would like to do,” added Bettis. “We’ll just continue to monitor volume and go from there. Unfortunately these will just be offered for a limited time.”
For more information about the holiday loan, visit BluCurrent online or call 417.887.1983.