Tuesday, January 13, 2009 , Updated
Texas credit unions offering savings on car sales
There has never been a better time than today to be a credit union member. Thanks to the “Invest in America” program, some seven million credit union members in Texas have the opportunity to enjoy real savings on their next auto purchase. Chrysler LLC and General Motors have partnered with America’s credit unions to offer this innovative program, which offers credit union members tremendous discounts and incentives.
“Credit unions are in the business of serving their members. We are an integral part of our communities and we’re always looking for opportunities to give back. This program is a win-win. We are helping support domestic automakers, while at the same time, providing our members with the opportunity to secure a competitive price on their new vehicle and obtain favorable financing,” said Texas Credit Union League president and CEO Dick Ensweiler.
Now through June 30, 2009, Chrysler is offering credit union members rebates of $500 or $1,000 on eligible Chrysler, Jeep® and Dodge vehicles financed through a credit union. This discount is in addition to most existing cash incentives that Chrysler offers on its vehicles. Through March 31, credit union members can also take advantage of GM supplier discounts available on new Buick, Cadillac, Hummer, Saab, Chevrolet, GMC, Saturn and Pontiac cars and trucks.
“I’m not sure that the public understands that one out of eight people work either directly or indirectly for the ‘Big Three’ auto manufacturers. If even one goes down, it would be a catastrophe for the whole industry,” said Gary Lau, president of Preston Chrysler Jeep in Dallas. “It is our hope that the Invest in America program will help stimulate the American market and bring some of that market back to the ‘Big Three.’”
Financing is an important concern right now, but given credit unions have historically offered better loan rates than an average bank or captive finance company, Ensweiler says “there is a pretty good chance your credit union is going to be able too help you get into your new vehicle with payments you can comfortably afford, and an interest rate that won’t keep you up at night.”
The “Invest in America” program was created by CUcorp, a marketing company based in Livonia, Michigan and a wholly-owned subsidiary of the Michigan Credit Union League. It began as a four-state Midwest pilot, but was quickly expanded when it became apparent that consumers are ready and eager to “invest in America.”
Additional information, including details on how consumers can take advantage of these exclusive credit union member discounts, can be found online at http://www.lovemycreditunion.org/.
Source: Texas Credit Union League
