Dateline: October 31, 2002

Local banks offering 0% interest loans 

By Roger Estlack, Clarendon Enterprise

Shopping at home for the holidays is easy and affordable as local banks have again teamed up to provide 0% interest “Christmas Cash” loans this year.

Interested parties must make application for a loan up to $3,000 with any of the participating banks.  Once a Christmas Cash loan has been approved, the borrower will be issued specially printed Christmas Cash Dollars, which may be spent like US currency toward new purchases of products and services (excluding Lottery tickets, gasoline, and tobacco products) at all of the participating businesses.  Businesses display posters indicating they are participants of the promotion. 

There will be no exchange of U.S. currency to make change.  For example, if someone purchases items valued at $72.95 and gives the merchant $80.00 in Christmas Cash, the merchant can give them $7.05 in-store credit.  The customer may also pay $70.00 in Christmas Cash and the remaining $2.95 in US currency. 

Christmas Cash Dollars are available in three denominations: $10, $20, and $50.  There are two signature lines, the same as there are on traveler’s checks. 

The borrower’s signature is placed on the signature line before they leave the bank, and then they must sign on the endorsement line when they spend the “Cash.” 

Christmas Cash must be spent at the participating merchants by December 31, 2002.  Unspent Christmas Cash may be applied toward your 0% loan at the bank through January 7, 2003. 

This cash may not be used as a regular monthly loan payment.  It can only be applied toward the principal amount due at the end of the Christmas Cash note. Christmas Cash notes are paid back in ten equal monthly installments.  After January 7, 2003, Christmas Cash becomes worthless. 

It’s amazing the variety of products Christmas Cash can purchase.  Some of the items purchased in years past include: replacement windows, vehicle repairs, groceries, furniture, entertainment equipment, cook-tops, dry cleaning for summer bedrolls, catered goodies, Christmas dinner, car stereos, special gift items, centerpieces, clothing, and much more. 

The Donley County State Bank, The Herring National Bank, and Community Bank will buy Christmas Cash from participating merchants at a rate of 95¢ for every $1.00.  Participating businesses are “interested in keeping your business here in Clarendon.”

This year’s participating merchants are: Amigo’s Mexican Restauranté, B&R Thriftway, The Clarendon Enterprise, Clarendon Outpost, Clarendon Veterinary Hospital & Supply, Cornell’s Country Store, Country Bloomers Flowers & Gifts, Duckwall’s, Eads Furniture & Appliance, Every Nook & Cranny, Floyd’s Motor Company & Body Shop, Greenbelt Cleaners, Guys & Dolls Salon, Henson’s, Hitchin’ Post, J&W Lumber, Kidd’s Texaco & Clarendon Auto Supply, Mike’s Pharmacy, Naturally Texas Ts, Poor Boys Antiques, Saye’s, Suna AutoMall, Thompson Upholstery, and White’s Feed & Seed.

This is the eighth year banks have participated in the Christmas Cash program. The idea of 0% loans up to $3,000 began in 1995 through the cooperation of the Clarendon Chamber of Commerce, the Clarendon Merchants Association, and local banks.