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VALLEY CREDIT UNION AUTO LOAN RATES PLUMMET

 VALLEY CREDIT UNION AUTO LOAN RATES PLUMMET
 SAN JOSE, Calif., Sept. 15 /PRNewswire/ -- The San Jose-


headquartered Valley Credit Union (CU) has lowered the interest rate on new car loans to an all-time low.
 The member-owned non-profit financial institution has lowered fixed-rate financing for all new car models to 8.1 percent between Sept. 1 and Oct. 15. Borrowers have from 60 months to 72 months to repay, and up to 84 months on loan balances of $20,000 or more. The credit union's auto loans are for 100 percent financing or high Kelly Blue Book, including tax and license.
 The new low car loan rates are part of the telecommunications and health care workers credit union's campaign to prepare members before they make a new car purchase.
 "As we move into the fall auto buying season, manufacturers are going to get quite aggressive with promotional low-rate financing. On the surface, it looks like a good deal but the difference in interest rates is commonly passed on to the buyer in higher sticker prices or applies only to certain makes and models for less than 24 months and requires a sizable down payment," said Anthony Jones, senior vice president at Valley CU. "The best way to circumvent these problems is by getting a pre-approved auto loan from the credit union, which gives buyers the same negotiating power as cash, and then go shopping for a new car."
 Valley Credit Union is a profit-sharing financial institution open to all employees of AT&T, PacBell and more than 500 businesses and organizations spanning the coast from Marin to Santa Cruz County. Administrative headquarters for the credit union are located at 2635 Zanker Road in San Jose. Three additional branch offices are located in Sunnyvale at 1270 Oakmead Parkway; in Oakland at 3334 Webster St.; and, in San Jose at 100 Park Center Plaza.
 -0- 9/15/92
 /CONTACT: Anthony Jones, senior VP of Valley Credit Union, 408-955-1302; or Sharon Chapo of Chapo Marketing Communications, 619-523-0907, for Valley Credit Union/ CO: Valley Credit Union ST: California IN: FIN SU:


JL-BP -- SD004 -- 9716 09/15/92 14:47 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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