Relief from rising minimum payments and huge credit card debt is here.
For a limited time, the credit union is offering a low 6.99% annual percentage rate for members who transfer their higher interest balances to a 1st Cooperative Visa Platinum credit card.
"We know from experience that the 6.99% rate will ease the burden on a lot of people," said Jo Ann Burnside, the credit union's chief operating officer. "Anyone who is eligible to join the credit union can transfer balances to a new or their existing 1st Cooperative Visa Platinum."
The special rate isn't offered every year, but dozens of people—new and existing members—take advantage of the offer when it's advertised.
“The savings can be huge, especially if someone is paying the 18% to 29% charged by some other cards,” Burnside said. “We try to make the transfers easy by removing fees on the transfers and giving members the special rate for the life of the transferred balance—until it’s paid off.”
The balance transfer special will be offered between February 1 and April 20, 2021. Members who already have a 1st Cooperative Visa Platinum card can make transfers now. Members and non-members can learn how to apply for one here
or by calling 803-796-0234.
Credit union membership is open to electric cooperative employees, trustees, and their families, which include spouses, parents, grandparents, children, grandchildren, siblings, and in-laws.