Tallahassee Democrat: Loans to urge drivers to go green

[ryban]

Loans to urge drivers to go green
Low-interest terms offered on fuel-efficient cars

By Jim Ash
DEMOCRAT CAPITOL BUREAU CHIEF

Every time a motorist sees red at the gas pump, at least one Tallahassee lender sees green.

Envision Credit Union is turning the economic challenge of rising gasoline prices and the ecological crisis of rising global temperatures into financial opportunity.

Under its new "Go Green, Save Green" marketing plan, customers with good credit scores and a taste for fuel-efficient cars can qualify for a discounted auto loan. By lopping 1 percentage point off the annual interest rate of a typical $20,000, 30-month loan, a borrower can save $700, Envision promises.

"I was driving to work one day and the idea just popped into my head after I filled up the tank," said Envision president and CEO Ray Cromer Jr. "Obviously, we want to further our loan goals, but the members win, that's what's important. It's good for the environment. Everybody wins."

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