RALEIGH -- A Raleigh-based credit union plans to expand the types of cars that qualify for its green loan program.
Next month, the State Employees Credit Union will begin using vehicle mileage to decide if a car is eligible for a lower-interest rate loan. The credit union’s green vehicle loans used to cover only new hybrids or alternative fuel vehicles.
Now, new and used cars that average 28 miles to the gallon will also be on that list.
The loans carry an interest rate 1 percent lower than what the credit union offers for other new and used cars.