Pasadena, MD (April 30, 2010) … The Board of Directors of the Automotive Aftermarket Employee’s Federal Credit Union (AAEFCU) approved a stunning summer promotion for vehicle loans and the annual vacation savings club.
For the month of May 2010 (and perhaps beyond), AAEFCU members may be eligible for loan rates as low as 4.0% on any vehicle, new or used. While there are certain qualifying guidelines like length of employment, term of the loan and the applicant’s credit score that determine the actual loan rate, almost all AAE Federal Credit Union members stand to see significant loan interest savings in this promotion.
With savings interest rates around the world at record lows, the AAEFCU Vacation Club may be among the highest paying savings plans available anywhere for low and medium income employees. The AAEFCU Board voted to pay a full 1.0% on all deposits into the 2011 Vacation Club that opens June 1, 2010. The AAEFCU Vacation Club is a regular payroll-deposit savings plan where members contribute a minimum of just $5 per paycheck into their club account. In May of 2011, the credit union mails a check to the member for the full amount of all deposits plus all the interest earned on that account through year.
Membership in AAEFCU is open to qualifying employees of companies who hold current corporate memberships in any of the three sponsoring trade associations, the Chesapeake Automotive Business Association, the Automotive Aftermarket Association of the Carolinas and Tennessee or the Virginia Automotive Parts & Service Association.
For information aftermarket employees and company owners who are not yet members of either AAEFCU or of any of the sponsoring trade associations are invited to phone the credit union office weekdays 8am-4pm at 800-766-2292.
Current account-holders of AAEFCU can apply for loans anytime online at www.aftermarketcu.com. To open a 2011 Vacation Club account, members should complete and return the Club Card enclosed with their monthly account statement.
AAEFCU was founded in 1974 by members of the sponsoring associations. Deposits are insured to $250,000 by the NCUSIF and the credit union is regulated by the National Credit Union Administration, an agency of the US Federal Government. Today, AAEFCU offers many modern banking services including checking accounts, saving accounts, vehicle and personal loans, IRS-favored health savings accounts, online bill pay, online account access, savings CDs, vacation clubs, Christmas Clubs and more. AAEFCU is managed by a fulltime staff in Pasadena, MD and is directed by a 7 person, unpaid, all volunteer Board of Directors.