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TINTON FALLS, N.J. – A mixture of motives has led the $255 million United Teletech Financial FCU to begin offering inexpensive loan for members seeking to purchase fuel efficient hybrid cars. “I wouldn’t say there was any one motive,” explained Andrea Plaza, spokesman for the credit union. “I think many of members have an environmental sensitivity brought on by our location in central New Jersey and relatively close to the beach,” she said. “But we also wanted to have something that could educate our members about the tax break that the federal government is offering for the purchase of the hybrids and we wanted to help our members meet their need for fuel efficient cars.” She said that the credit union had thought of the loans when it became clear how much money in tax credits the government was offering just for owning the cars. “After all, $2,000 is a pretty good credit. Leo Ardine, CEO for the credit union cast it somewhat differently. “United Teletech Financial has a tradition of community service,” said Ardine. “Reducing loan rates for hybrid vehicles is a small way to make a difference in the quality of life in Monmouth, Ocean and Middlesex counties. With the escalating price of gas, buying a fuel-efficient car, not only makes a lot of sense, but it’s good for the environment as well,” Ardine said. “As a responsible corporate neighbor, we believe it’s important to do whatever we can to help make hybrids more affordable in our communities.” Plaza said the product had just been rolled out so that it was not clear yet how the credit union’s members would react to the offer.

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