CHARLOTTE, N.C. — Carolina Postal Credit Union is enticing members to make the credit union switch and ditch their high interest rate.
The "Switch and Ditch" campaign targets members who have a car loan at another financial institution, in particular banks and finance companies. As part of the promotion, Carolina Postal is lowering the member's current car loan interest rate by 2% and gives them $50 cash at the time of the loan closing.
"We strongly believe credit unions are about the member," said Carolina Postal CEO Joy Watts. "And we constantly look for ways to help out our members, save them money, and reward them for being a Carolina Postal member. This campaign accomplishes all three of those elements."
Recommended For You
Three postcard/mailers designed by PSB and a final e-mail reminder dropped the last week of the initial campaign dates helped spread word of the promotion.
Final results of the campaign are not in, but it has been so popular the credit union has extended it through mid-July.
"Just after the initial mailing we had one Loan Officer state in amazement that she had already done 15 car loans by mid-week. The loan officers requested the extension, because they wanted a little more time to make sure all of our members had an opportunity to take advantage of this great deal," said Carolina Postal Vice President Marketing/Business Development Deb McLean.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
