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Oklahoma Central CU Offers .99 Percent APR Storm Shelter Loans
Thursday, August 15, 2013 6:50 AM

Oklahoma residents are all too familiar with the dangers associated with tornadoes. In May, a powerful tornado with peak winds up to 200 mph ravaged the tight community of Moore – killing more than 20 people and injuring hundreds. Few would argue that storm shelters save lives, and Tulsa, Okla.-based Oklahoma Central CU wants to make it easier for residents to get one. 

According to Oklahoma Central CU President and CEO Gina Wilson, the credit union has offered storm shelter loans for about two years. However, following the devastating tornado in May, the credit union re-examined its product, and has now made it more affordable.

“Tornadoes in Oklahoma are real. The loss of lives in the Oklahoma City area this season drove us to offer the lowest rate possible for members,” says Wilson. “It's was just the right thing to do, make it as affordable as possible to give them peace of mind.”

Qualifying members can now obtain a storm shelter loan with rates as low as .99 percent APR. Wilson says the response has been extremely positive.

“We want to help keep our members and their families’ safe during dangerous weather conditions,” adds Wilson.