What to do when life gives you a lemon? One Maple FCU member turned in his lemon (a broken-down Toyota 4Runner) and won a year's worth of car payments. It was all part of the credit union's Lemons for Lemonade campaign that nearly doubled auto loan volume over the course of a 60-day run.
Just in time for summer, Maple FCU held a lemon-themed Facebook contest where participants could post pictures of their ugly cars (lemons) for a chance to win 12 months of loan payments up to $300 per month. To expand on its initiative, the $36 million credit union booked the URL WeReplaceUglyCars.com. Maple also offered a limited time offer of half a percent off their auto loan rates plus a $100 discount on GAP insurance. To top it all off - quite literally - ice cold glasses of fresh lemonade were served inside their branch in Lafayette.
The Facebook contest also coincided with the launch of Maple's Facebook page. Launched April 30, the credit union of 6,456 members already has 419 followers.
Maple was able to help many members, including Eric & Lindsy, the winner of a year's worth of auto payments. Eric, an entrepreneur and local musician that promotes local small businesses, artists and charitable causes - including one that promotes foster families and adoption, and Lindsy, local Sheriff's employee and pet foster advocate- won this at the perfect time. He and his wife Lindsy were making good steps to improving their finances when... life happened.
"They had to make costly home repairs that were not planned and his car died, all at once," said Pamela Stelly, CEO of Maple FCU. "They are going to take this year of car payments to work on paying off the debts they incurred on their home and let us pay the note on the car.
"This totally fits our vision, she continued. "We want to manifest change in Lafayette. It's not just about making more loans, but to be brave, bold and authentic with the people we serve."