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Credit unions’ ‘Invest in America’ goes national

Posted Wednesday, Jan 7, 2009 at 3:46 pm in Company News

Chrysler LLC today announced the nationwide expansion of its participation in the “Invest in America” credit union loan partnership, which offers affordable financing and added vehicle discounts to credit union members anywhere in the United States.

Organized by the Michigan Credit Union League (MCUL), the program allows members who finance the purchase or lease of a new vehicle through their credit union to receive a “credit union member cash” discount of $500 or $1,000 on nearly all Chrysler, Jeep® and Dodge vehicles. This discount is in addition to most existing cash incentives that Chrysler offers on its vehicles.

“Chrysler joined the Invest in America program in December as a pilot initiative, and the result was a significant sales lift in the participating states,” Steven Landry, Executive Vice President—North American Sales, Marketing and Mopar Parts and Service, said. “Financing is a critical concern right now, and the program provides considerable value to our credit union customers and the economy. We are glad that we are now able to offer it nationally.”

Approximately 8,000 credit unions, including the UAW credit unions, will participate in the Invest in America program, allowing access to $80 billion in auto loans. Nearly 90 million customers will be eligible to take advantage of the discounts and low-cost financing. The program is scheduled to run through June 30, 2009. To gain access to the discount, eligible credit union members must finance their purchase or lease through their credit union.

“The Invest in America partnership is very timely for domestic automakers,” David Adams, president and CEO of the Michigan Credit Union League and CUcorp, said. “The exclusive credit union member discounts, along with credit union financing, creates a great opportunity for 90 million credit union members nationwide to purchase a new vehicle. The traffic on the Web site in four weeks has been overwhelming. Consumers are looking for new vehicles and we hope with credit union credit available they can now purchase those new cars and trucks.”

Organized in 1934, the Michigan Credit Union League is a statewide trade association representing Michigan credit unions. Based in Lansing, the MCUL offers credit unions assistance in the areas of regulatory compliance, legislative advocacy, media advocacy and operational information. CUcorp is a wholly-owned, for-profit subsidiary of the MCUL. For more information, visit the Michigan Credit Union League: Michigan Credit Union League Home.
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