Connecticut's American Eagle Federal Credit Union is finding theever-increasing promotions by dealers during the long holidayweekends is a good time to push auto loans, and over Presidents Dayit will be plugging what it calls a below-market 1.74% rate.

The $1.3 billion AEFCU of East Hartford said in recent months ithas adopted what it calls aggressive rates on personal and autoloans to spike lending volume.

On the 1.74% rate extended through March 3, “we feel that wehave an aggressive offer at a relevant time as many local autodealerships look to Presidents Day promotions to bolster theirsales,” said Brian Kennedy, vice president of marketing/publicrelations.

The 1.74% rate applies to new and used 2009-2012 models.

Over Christmas-New Year's, American Eagle advertised 12-monthHoliday Helper loans with a 3.75% rate. It also offered adebt-consolidation special with a 6.5% rate with a 36-month term. American Eagles' Holiday Helper promotion was featured in arecent national roundup of bank and CU campaigns in a Wall StreetJournal online article.

“Credit unions everywhere are doing what they can to get somemomentum in lending so we thought Presidents Day is a good time,”said Kennedy, echoing a Callahan Associates report out this weekthat contends CUs reported strong loan origination numbers for thefourth quarter of 2011 and expect to see continued gains this yearin auto lending.