State Employees’ Credit Union Continues Its ''Green'' Trend with New Car Loan Program

RALEIGH, N.C.--State Employees’ Credit Union (SECU) Board of Directors has approved a “Green” Car Loan program. The program is designed for members purchasing new Hybrid and Alternative Fuel vehicles that are more environmentally friendly and less dependent on petroleum based fuel. Loans will feature a rate 1% lower than SECU’s current new vehicle loan rate, making the product even more appealing. SECU’s Board opted to provide a “Green” Car Loan for clean-fuel vehicles to emphasize the Credit Union’s commitment to energy conservation efforts.

SECU’s environmentally friendly “Green” Car Loan comes on the heels of a recently established “Green” Mortgage program launched in September of this year. The “Green” Mortgages are available on homes that have received an “Energy STAR” rating, which indicates the home’s level of energy efficiency is at least 15% better than the minimum requirements as set forth in the 2004 International Energy Conservation Code.

Commenting on SECU’s new “Green” Car Loan program, David King, SECU Board of Directors Chairman states, “Presently, Hybrid and Alternative Fuel vehicles are more expensive to purchase than petroleum based fuel vehicles. Given today’s fuel costs and the outlook for demand on petroleum based fuels in the future, there is an increased need to provide reasonable financing options for members considering vehicles which reduce the consumption of petroleum based fuels. As SECU members make a choice for conservation, SECU’s Board is committed to making their choices more affordable.”

About SECU

SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for over 65 years. Currently serving over 1.3 million members, SECU provides services through more than 200 branch offices, approximately 900 ATMs, two call centers and a website—www.ncsecu.org.