For the second year in a row, BluCurrent Credit Union isoffering a zero interest holiday loan and demand has beensignificant, bringing in heavy traffic to all branches, the co-opsaid.

Within the first seven days of making the loans available, 66loans were approved and a total of more than $125,000 wasdisbursed, the Springfield, Mo., credit union said.

“Last year's holiday loan went over very well, so offering itagain was an obvious choice,” said Randall Bettis, senior vicepresident of lending for the $145 million BluCurrent. “With thisloan, our priority is providing our members with an option thatwill help ease budgeting stress that is often brought on by theholidays.”

In 2012, 260 holiday loans were approved, totaling over $532,232 as aresult of the promotion, including cross sells, the credit unionsaid.

This year, many members are taking advantage of the holiday loanto lower their interest and payments on other types of loans,including credit cards and payday loans, the credit union said.

BluCurrent is among the growing number of credit unions offeringholiday campaigns to help members stay out of the red on BlackFriday – and beyond.

BluCurrent said it plans to continue this promotion throughChristmas.

The terms of the holiday loans are:
• Up to $1,000 at 0.00% APR with approved credit.
• 12 month repayment period.
• Weekly or monthly repayment options for as little as $19.24 aweek.

“The Holiday Loan is especially beneficial because, in additionto helping alleviate some holiday stress, if payments are made ontime, this can also help build credit history and even improvecredit scores,” added Bettis.