Credit Union Promises No Auto Loan Payments If the World Ends

by Nate Wooley | December 7, 2012 11:49 am

[1]A credit union is making as unusual an offer as you’ll ever see:

If you take out an auto loan and the world ends … your loan is forgiven.

The Latitude 32 Credit Union, located in Charleston, S.C., is offering to forgive any auto loans[2] should the Mayan calendar — which many interpret to say that an apocalypse will occur on Dec. 21, 2012 — holds true. The loans need to be written between Dec. 3 and Dec. 21 to be covered by the promotion.

The CEO of Latitude 32, Brad Rustin, told Financial Brand that the bank doesn’t actually believe the world will end.

Just in case it doesn’t, he says, “You’ll still owe the balance on the loan. But you’ll have peace of mind knowing that you got a great rate on your auto loan from Latitude 32 Credit Union.”

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