Refinance for CASH!

https://www.navyfederal.org/membership-benefits/offers-discounts/holiday-refi-250.php


Refinance for CASH!
By: James Shively


Every time I log in to my bank account with Navy Federal Credit Union they have small ads on the side of the website with specials and whatnot going on at the time with the credit union. Well about a month ago they had one on there that was a special for car loans. It said that if you refinanced your car loan from another financial institution that they would give you $250 for switching over to Navy Federal Credit Union. This seemed a little suspicious and sure enough there was some fine print but I had one car loan with Navy Federal already and it made sense to have my other one with Navy Federal as well. I had never heard of this deal before but since I did already have a different car loan with them I knew that they had better interest rates so I figured it would be a safe bet to switch over. This advertisement was directed toward members of Navy Federal that log-in online to view their balances. I felt that it was very effective because I acted on it and switched over my car loan. I satisfied the need to get $250 for a win-win situation. Other banks or credit unions doing similar offers would be the primary competitor but they were offering a lower amount and higher interest rates so no thank you. I felt like it was a good add and simple and effective.