EL PASO, Texas – El Paso Area Teachers FCU is showing its support of a measure introduced in the Senate last year by Sen. Orin Hatch (R-Utah) that's designed to encourage consumers to purchase alternative fuel or hybrid vehicles. The credit union is the first financial in Texas to agree to offer an incentive for members who purchase an alternative fuel vehicle or hybrid vehicle. As part of El Paso Area Teachers' incentive, it is offering a quarter basis points off the annual percentage rate of any auto loan used to purchase a hybrid vehicle or AFV. The anticipated effective date of the credit union's program is Jan. 15, 2005. Sen. Hatch first introduced the “Clean Efficient Automobiles Resulting from Advanced Car Technologies Act” in 2001 in response to President Bush's call for tax incentives to encourage the use of alternative fuel vehicles as part of his National Energy Plan. The measure was introduced again in March 2003 as S.505. The bill is intended “to encourage and accelerate the nationwide production, retail sale, and consumer use of new motor vehicles that are powered by fuel cell technology, hybrid technology, battery electric technology, alternative fuels, or other advanced motor vehicle technologies.” The bipartisan measure currently has 14 co-sponsors, and it has been incorporated into the larger energy bill, HR 6. That bill was passed by the House but is stalled in the Senate. According to Sen. Hatch's office, H.R. 6 will be taken up by Congress when it convenes in January and it has a high probability of being passed. President. Bush has said he intends to sign the measure into law. The measure awards tax credits for vehicles based on environmental and fuel efficiency gains resulting from their advanced technology or use of alternative fuels. El Paso was designated as a Clean City by the U.S. Department of Energy, and Credit Union Solutions Group LLC, division of Members Solutions Group, a provider of services to credit unions and affinity groups, has been providing information and awareness of the measure through its “Credit Unions That Care” national campaign. CUSG was founded by its president Brent Poe to provide “environmentally-friendly, multimember services” to credit unions. The company's Preferred Dealer Network dealers have access to AFVs, as well as ultra low emissions vehifles (ULEVs); Super Ultra Low Emissions Vehicles (SULEVs); as well as the traditional inventories of vehicles. In addition to El Paso Area Teachers CU's initiative, CUSG Poe said he's received verbal commitments from 100 other credit unions. He's also received a written commitment from National JACL CU, Salt Lake City, Utah to participate in the program and offer incentives to encourage its members purchasing new vehicles to buy AFVs or hybrid vehicles. Poe said he sees AFVs as “the future of the country” because “they will reduce our dependency on foreign oil and they cut pollution.” El Paso Area Teachers' VP of Marketing Norma Drinkwin said the credit union is very excited to offer the incentive. “As a border city with Mexico we have our share of pollution problems since Mexico doesn't have clean air regulations, so anything that can be done to promote clean air is something we want to assist with,” said Drinkwin. “Anything we can do to reduce air pollution is a wonderful opportunity. We have to not only consider ourselves but future generations as well,” she said. -

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