If you find yourself coming up a bit short on cash for the holiday season, our Christmas Loan is a nice gift. Qualified members can borrow up to $1,000 at a low fixed rate as low as 5.99% Annual Percentage Rate for a term up to 12 months. Consumers have been doing a much better job of reducing debt and increasing the amount saved throughout the year. The key to borrowing money is try to avoid it if possible. Shopping with your own cash is always more preferable than shopping with someone else's money and paying interest for the use of those funds. If you must borrow money, shopping for a good loan rate is worth the time and effort. Some credit cards, especially department store cards, have increased their finance rates considerably during the economic downturn over the past few years.
Our Christmas Loan will be available through the end of January 2012. The joys of Christmas shopping in December can often be soured by the credit card bills that arrive in January. Our Christmas Loan as well as other loan programs for higher balances could be used to greatly reduce finance charges being paid on outstanding debt.
Members of North Alabama Educators Credit Union who are interested in the Christmas Loan can review the rates and terms available on this and other loans at http://www.naecu.org/rates/loanrates.html.