LANSING, Mich. — General Motor's cutbacks won't slow Invest in America's momentum, predicts David Adams, CEO of CUcorp.
Through March, Invest in America - a program that provides discounts on GM and Chrysler cars to credit union members nationwide-has brought an estimated $2.1 billion in revenue to the carmakers through the sale of 85,847 vehicles.
"From the very beginning of the Invest in America program we have known that all of the Detroit Big 3 were facing unprecedented financial challenges that would likely include significant job cutbacks and possible bankruptcy filings," Adams said. "The recent news from GM and Chrysler appears more positive than negative, when taken in the proper context. The Obama administration continues to signal strong support for GM and Chrysler. Ford's operating results continue to beat expectations despite the tough economy. These events only reinforce the importance of the Invest in America program. The opportunities that are present for credit unions because of the hardships of the auto industry serve to make credit unions more relevant and more important for the automakers, and for the entire economy."
CUcorp is a subsidiary of the Michigan Credit Union League, which developed Invest in America.
