ALEXANDRIA, Va.–Democracy Federal Credit Union has rolled out a promotion offering three months of no auto loan payments for members who purchase a new or used vehicle, or who refinance their current vehicle during the promo period.
Democracy FCU is offering rates as low as 2.35% ARP, with no payments due until after the holidays in January.
In addition, Democracy FCU is also offering a 12-month Certificate Special for members starting on Oct. 1. The certificate is paying a 2.65% APY on terms out to 12 months with a minimum opening deposit of $300. The step-up certificate also allows members to add any monetary amount, at any time, until the certificate matures, Democracy FCU said.
The credit union added in a message to members that the money members save with no payments until January 2020 can be used towards opening a certificate.
The $152-million Democracy FCU has approximately 14,400 members.