The $245 million AEA Federal Credit Union in Yuma, Ariz., has launched the $200,000 Go Direct Initiative, a member-centric approach to auto lending for the credit union’s 42,000 members and the community.
The program pledges a $10,000 financial donation to one community service organization benefiting local residents once $200,000 in Instant Cash for Car Loans is awarded to AEA members.
AEA's GO Direct Instant Cash for Car Loans program gives back up to 1% of auto loan balances when members go directly to the credit union for auto financing.
Yanna Kruse, vice president of marketing for AEA, commented, "People helping people is the fundamental purpose of credit unions. By taking a member-centric approach to auto lending, AEA Federal Credit Union grows, members are rewarded and the community is strengthened. The initiative just seemed like a natural extension of the Instant Cash for Car Loans program. It's a positive GO Direct effect where everyone benefits."
The GO Direct Instant Cash for Car Loans program was first offered in March 2012 on a promotional basis. The program's overwhelming popularity made it permanent, the credit union said.
AEA's goal is to pay out $200,000 in Instant Cash to members before the clock strikes midnight on Dec. 31, 2012. Nominations for non-profit organizations will be requested throughout the year. An impartial selection committee comprised of AEA management and members will then choose three organizations that will compete for the $10,000 donation, with final voting taking place on AEA's Facebook site.
An Instant Cash for Car Loans counter is displayed on the credit union's website at www.aeafcu.org tracking the total amount of Instant Cash awarded to members in AEA's quest to hit the $200,000 mark. More information is at www.aeafcu.org/initiative.