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Digital FCU Delivers Financing for Segway Human Transporters

MARLBOROUGH, Mass. - Their steep price has made the Segway Human Transporters a novelty among a select few, but through a recent alliance, Digital Federal Credit Union is hoping to make them more accessible. The Segway, an upright, self-balancing vehicle, costs $5,000. Segway LLC has partnered with the credit union...

By Staff Writer | Updated on April 06, 2004

MARLBOROUGH, Mass. – Their steep price has made the Segway Human Transporters a novelty among a select few, but through a recent alliance, Digital Federal Credit Union is hoping to make them more accessible. The Segway, an upright, self-balancing vehicle, costs $5,000. Segway LLC has partnered with the credit union to offer financing for the Transporters, said Tim Garner, vice president of marketing and strategic planning at Digital FCU. So far, three loans have been processed, he said. “This is another way to finance our members’ needs,” Garner said, adding the Transporters are grouped into the credit union’s off-road recreational vehicle loan category. Like other loans, financing will vary with each applicant depending on credit scores and other factors. Garner said “the average person could finance (the Transporter) with a credit card or if they’re more sophisticated with a home equity line of credit.” Segway approached the credit union about six months ago and indicated that the company would be traveling to different colleges to market the Transporter, Garner said. Since their launch in 2001, 6,000 Segways have been sold, according to company officials. With 214,000 members and $2.2 billion in assets, Digital FCU is the largest credit union in Massachusetts.

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