Oklahoma drivers looking for fuel-efficient vehicles have another financing source to turn to.
The $500 million FAA Credit Union in Oklahoma City has launched its Member Payback Guarantee discounted loan program, which offers a lower rate for vehicles that are certified by the Environmental Protection Agency as SmartWay vehicles.
The one-quarter percentage point discount can be applied to the lowest posted loan rate offered by the credit union and can be obtained at most Oklahoma City metro auto dealerships or by visiting any FAA CU's seven locations, according to the credit union.
“With gas prices continuing to rise, the value of these vehicles is increasing significantly and they are holding that value for an extended period of time,” said Steve Rasmussen, president/CEO of FAA CU. “Offering a discounted rate on these vehicles makes a lot of sense in today's economy.”
The green loans are also open to non-members who live or work in the Oklahoma counties of Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma and Pottawatomie, which are served by the credit union.