Credit Union, Church Team Up on Car Loans
The Renaissance Community Development Credit Union is partnering with a local church to provide car loan financing.
The $884,000 credit union will be on site at the First Baptist Church of Lincoln Gardens on several days in March for its Refinance and Save promotion. Both RCDCU and the church are based in Somerset, N.J.
The promotion is designed to encourage borrowers to take advantage of lower interest rates, which will result in lower monthly auto payments, according to Renaissance Community Development CU. Financing will be provided to those who qualify and rates only apply to new loans.
The promotion is a part First Baptist Church of Lincoln Gardens dfree’s strategy, which aims to help members eliminate all debt, delinquencies and deficits.
Credit union loan specialists will be on site at the church on March 2, March 9, and March 16 after worship services. The refinance and save promotion will run from March 1 through April 30.
“One of our church members saved $400 a month by refinancing his car during the previous offering of this promotion,” said Rev. Dr. DeForest B. Soaries, Jr. “We are grateful to RCDCU for their partnership and efforts.”
A few years ago, RCDCU rebranded its image to bring more community appeal to its products and services.