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CREDIT UNION ONE INTRODUCES 5-PERCENT AUTO LOAN

 FERNDALE, Mich., Oct. 26 /PRNewswire/ -- Credit Union ONE, one of Michigan's largest cooperative credit unions, has just initiated a 5-percent variable rate annual percentage rate auto loan program called the "5 Percent Brand New Wheels Deal." It is also available as a 5.9-percent fixed annual percentage rate loan. It is among the lowest auto loan programs available anywhere in the state from any financial institution including banks, S&L's, finance companies or auto dealers.
 Armando R. Cavazos, president and CEO of Credit Union ONE, said, "We are able to offer our members such an affordable loan program because as a credit union, we are a non-profit financial cooperative owned by our members. Any profit we do make is returned to our members in the form of lower interest loan rates and excellent savings programs. Our natural niche is firmly in consumer products and services rather than in high-risk commercial business loans or the volatile international markets."
 Within the past several years, Credit Union ONE, based in Ferndale, has added branches in Macomb Township, Westland and two new offices in Traverse City to go along with its other branches in metropolitan Detroit and three offices in Grand Rapids for a total of 14 throughout the state.
 Today, Credit Union ONE has more than 115,000 member-owners and $330 million in assets.
 -0- 10/26/93
 /CONTACT: Marvin Hirsch of Goldfarb & Company, 313-350-8200, for Credit Union ONE/


CO: Credit Union ONE ST: Michigan IN: AUT FIN SU: PDT

JG -- DE024 -- 6828 10/26/93 13:36 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
Words:256
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