TEMPE, Ariz.–The $140-million Landings Credit Union is reporting that an auto loan refinancing campaign has far exceeded its expectations.
Using a WANTED poster theme from the Old West, Landings was offering members who refinanced the REWARD of a one-percentage-point discount off its current rate, a 1% cash back bonus up to $500, and no payments for 90 days. The offer was also open to non-members. The floor rate on the loans was 1.99% APR.
“This isn’t the first time we have done the Wanted Promotion,” states David Rindone, director of marketing. Landings has actually run the program in various forms three other times since 2008, but what makes this one stand out is the loan dollars taken in. “I thought the $1.8 million we took in back in 2008 far exceeded our expectations, but with this new loan total right at $3 million we couldn’t be more excited.”