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CU System
CU in Oklahoma offers low-rate storm shelter loans
OKLAHOMA CITY, Okla. (6/1/11)--An Oklahoma City-based credit union is offering special low-interest loans so Oklahomans can build storm shelters as protection from deadly tornadoes. Oklahoma was one of the states battered in the past few weeks by tornadoes. According to a local TV station, storm shelters are the safest place to be and can sustain the debris impact of a F5 tornado. Ten people in the state were killed recently by tornados. None were in a storm shelter--six were in their vehicles and four were inside their homes (KFOR-TV May 27). Communication FCU is doing its part to make storm shelters--which can cost $3,000 to $6,000--more affordable so Oklahomans can be safer, according to the $803 million asset credit union's website. It is offering loans specifically for the shelters at a 2.99% annual percentage rate for qualified borrowers. The 2.99% rate is not an introductory rate but the rate for the term of the loan, the credit union said.


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