Members responded in a big way to CitizensFirst Credit Union's recent promotion, bringing in $8.9 million in auto loans in the fourth quarter, up 150% from 2011's figures.
The $370 million credit union in Oshkosh, Wis., ran its Cash Back Auto Loan promotion during the last four months of 2012.
The promotion was open to current and new members, and it applied to either new loans or loans refinanced from other institutions. Standard rates remained unchanged, but the borrower earned an on-the-spot 1% cash rebate up to $500, according to CitizensFirst. Members who were not approved received $25 just for applying.
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