ROCKVILLE, Md. — With the wave of a checkered flag, MCT Federal Credit Union kicked off a race that helped the credit union speed past the finish line, adding over $10 million to its loan portfolio.
"Early this summer we recognized although we were well-capitalized, we needed to increase our loan growth," said MCT FCU Communications Specialist Jennifer Mino. "Lending, marketing and the management teams all worked together to come up with a campaign that would be relevant to our members and include internal and external incentive elements."
The result was MCT FCU's green auto loan campaign, which offered members a 25-basis-point discount on their auto loan rate when purchasing or refinancing a fuel-efficient vehicle. In addition, in keeping with the green theme, members could receive $100 gas cards for completing loan applications online.
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