Electric Vehicle Charging Stations
State Credit Union Now Including Financing for Charging Stations
with Electric Vehicle Car Loans
State Credit Union has just unveiled a new perk to those members in the market for an Electric Vehicle (EV) or a Plug-In Hybrid Electric Vehicle (PHEV). Members who finance their car loan with State Credit Union are now able to add up to $1,500 to the amount financed for the purchase and installation of an EV Charging Station at their home.
Jim Kinard, President of State Credit Union, said, “We are pleased to offer this new option to our membership, who may otherwise need to find an alternative loan for their charging station. This method allows the member to bundle that cost right into their car loan, which will only change their monthly payment by a very small amount.”
When asked how a member can obtain this additional money, Kinard stated, “It’s a very simple process. A member would only need to let their Loan Officer know they need the additional funds at the time of the loan application. If the member is applying for a car loan online, there is a space to indicate the additional $1,500 in the application. Both of these methods, upon loan approval, will result in the money being disbursed right to the member, so they may purchase the charging station and pay their electrician to install it. Several companies sell the stations and South Carolina is filled with competent electricians who can install the chargers. We encourage our members in the market for an electric vehicle to take advantage of this convenient option. For more information on charging stations, we encourage members to visit Dominion Energy’s website.”
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