'Invest' Adds RVs
The program is set to start with participating CUs Sept. 1 as league officials also revealed talks are under way for similar partnership pacts with other large U.S. firms.
A spokesman for the Michigan League said "we are getting very close on a couple of large Fortune 500 firms" to copy the member discount program of Invest in America with other corporations.
Since last fall, CUcorp. has championed pushing the CU/Invest in America brand with General Motors, Chrylser, Ford and Sprint, the mobile carrier, allowing members of participating CUs to receive discounts and loan benefits.
The contract with Thor, the Ohio-based RV manufacturer, represents the latest CUCorp effort to expand the program beyond the Big Three and Sprint.
Under the Thor agreement, CU members can receive up to $300-$1,000 in discounts when purchasing specified vehicles through dealers.
In a conference call with reporters, David Adams, president/CEO of CUCorp and the Michigan League, said the "demographics of RV buyers" fits well into the CU mix as it bringsin loan business, but more importantly demonstrates the industry's push to help struggling sectors of the economy.
Thor executives, also on the conference call, lauded CUcorp and the industry for its role in supporting the RV market which "also took a large hit" during 2008-9 but is now seeing good signs of a 2010 recovery with sales set to climb nearly 25%.