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Invest in America Offers Incentive for Credit Union Members' Car Purchase.

CHATTANOOGA, Tenn. -- On Wednesday, January 7, representatives of General Motors and Chrysler Corporations announced the expansion of the "Invest in America" pilot discount purchase programs to credit union members. These programs are being made available to the members of the nation's 7,900 credit unions. GM's "Credit Union Member Discount Program" extends to March 31, 2009, and Chrysler's "Credit Union Member Cash" rebate program extends through June 30, 2009.

With a certificate and proof of membership, a credit union member can receive a discount of 4.5% off the MSRP in addition to other available discounts on most General Motors products. With proof of credit union financing, a member can receive a rebate of $500 to $1,000 as specified for most vehicles from Chrysler (dealer participation is optional). The details of both these programs can be found at

Although obviously impacted by levels of employment and general economic conditions, credit unions remain well capitalized and ready to lend to their members. Credit unions have continued to make automobile loans, mortgage loans, and loans for many other purposes to members throughout the recent economic struggles. Credit unions continue to be an available source of low-cost loans and capital, as well as providing the opportunity for members to participate in these discount auto purchase programs.

There are 193 credit unions headquartered in Tennessee and about 1.5 million Tennessee residents are credit union members. The Tennessee Credit Union League is the state association for credit unions and was formed in 1934.

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Publication:Business Wire
Date:Jan 9, 2009
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