Five Things to Do with Your Great Give Back Money
In 2016, American 1 gave back $1,000,000 to members. This year, we’re giving back even more! Members will receive 50% of the interest they paid on their 2017 loan from the date of opening through the end of this year.* These funds will be deposited back into your savings account in January 2018. To qualify, you must open a new secured, closed-end loan between January and December of 2017; you must make all payments on all loans with American 1 on time, and your loan must still be open at the time of the rebate posting.
Last year’s average rebate for members was more than $400! There are a lot of things you can do with that money. Here are a few ideas:
- Bulk up your savings account. American 1 will be depositing your refund directly into your savings account when refunds are processed. You can keep these funds tucked away into your savings account to save for a rainy day or an emergency.
- Pay down your loan. You can use the money from your refund to make progress on paying off your loan! This is money you’ve already paid towards your loan once; why not double its value?
- Pay down other debt. Refunds will hit your savings account in January, just after the holidays. If you have some credit card debt or a personal loan, or any other kind of debt, use your refund to pay down your debt and give your credit score a little boost.
- Splurge on yourself. You’ve worked hard all year and made all your loan payments on time. Go treat yourself with something special - you deserve it!
- Donate to charity. American 1 loves to encourage our members to give back when they’re able. You can use your Great Give Back refund to do some good in your community. Choose a charity that is important to you and give a donation that makes a difference.
Do you have plans for your Great Give Back refund? We’d love to hear it!
To apply for a loan that qualifies you for the Great Give Back, fill out our loan application here.
*Disclosure: Must credit qualify. Qualifications for the $1.5 Million Back to Member Campaign: All closed-end, secured loans opened in 2017 are eligible for a fifty percent (50%) interest rebate. The 50% interest to be included for the rebate is the interest paid on the loan throughout 2017. The funds will be deposited to the eligible member's savings share at American 1 by January 15, 2018. If at any time during 2017 the loan becomes delinquent (one (1) or more days past due), if any other loan with American 1 becomes delinquent, or if the loan is no longer financed with American 1, the member will forfeit the rebate. Home equity loans do not qualify for the rebate, and refinances cannot be a current American 1 loan.
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