DETROIT – General Motors and Chrysler announced yesterday they will be making their vehicles available at a discount through credit unions across the country, expanding the "Invest in America" program started by the Michigan CU League last month.
The deal gives credit union members discounts and rebates on GM and Chrysler vehicles. More than 1,200 credit unions in 18 states are also offering discounted loans in a credit union-wide effort to aid U.S. automakers. Yesterday, the Pennsylvania CU Association said its credit union members have agreed to offer the discounted loans to buyers of GM and Chrysler vehicles, as well.
Ford Motor Corp. has yet to join the initiative, saying its own finance arm, Ford Motor Credit, is in good health, despite the national economy.
GM is offering credit union members supplier discounts of about 5% plus $250 off the price of most GM vehicles.
Chrysler is offering credit union members who finance the purchase or lease of a new vehicle through their credit union a cash discount of $500 or $1,000 on almost all Chrysler, Jeep and Dodge vehicles.
