June 17, 2009 Since its inception back in mid-January, Maine credit union members have driven away with some big savings thanks to the Invest In America program. "Invest in America" is credit unions' auto loan discount program with auto manufacturers General Motors Corp. (GM) and Chrysler Corp.
With all 67 Maine credit unions participating, nearly 400 new GM or Chrysler cars have been sold to credit union members in Maine through this program. According to reports from several credit unions, feedback from members has been very positive. Maine Highlands FCU's President/CEO Rhonda Taylor, CCUE, explained, "Our members were pleased with the discounts, and with how easy it worked." With discounts ranging from $500-$1,000 for credit union members plus additional incentives, the Invest In America program has translated into nearly $500,000 in savings for Maine credit union members who have bought GM or Chrysler cars.
Recently, GM announced that the Invest In America program would continue at least through the end of the year. Currently, Chrysler's deals are valid through the end of June but is expected to follow GM's action and continue the program through the end of the year. It costs nothing to participate in the program but credit unions are encouraged to sign-up as supporting the program in order to receive special communications. Find all of the details by following the Invest In America link on the Maine CU League's home page at www.mainecul.org.
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