PEORIA, Ill-CEFCU's Tax Smart Loan is helping the CU battle banks' auto deals below 3%.

"Our Tax Smart loan is a courtesy mortgage," explained Mary Conrady, SVP-consumer lending. "If members are a homeowner, we put a mortgage on their auto loan and they can report that interest as a tax deduction. They complete their car loan, and on the back side we have them sign a mortgage. We record it with the courthouse. Once the car loan is paid off we release the mortgage."

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