Invest in America Adds Partners, Is Optimistic
In 2009, approximately 229,000 GM and Chrysler cars and trucks were sold through Invest in America for a total of $3.5 billion in new auto loans.
For the month of December, credit union members purchased more than 14,000 GM and Chrysler vehicles through Invest in America, a jump of 40% over November.
"The 2009 numbers show that we were able to achieve great results in a very difficult environment. I think we can increase those numbers in 2010. Analysts are predicting a 20% boost in new auto sales in 2010, and credit unions should be able to grab market share through these promotions," Adams said.
Chrysler expanded its Invest in America credit union-preferred pricing program to include all 2010 model vehicles.
There are 2,125 credit unions, representing 56% of credit union members, that participate in the auto benefits side of Invest in America. Forty-six out of the 50 state league and associations participate as well.
"Invest in America is going to continue to have an impact on and be an important program for GM and Chrysler," Adams said.
The 2010 new partners for Invest in American include Complete Tax and Equity LifeStyle Properties.
Complete Tax is a state and federal tax preparation software program that includes free federal e-filing. Credit union members can receive a 30% discount on the product.
Equity LifeStyle Properties has 300 resort destinations across the country and will offer credit union members discounts on vacation homes and American-built RVs.
"As more products and services are added to the portfolio of benefits and savings offered by credit unions, a continuing cycle of reinvestment and economic recovery is created," said Adams. "Even in these tough economic times, the unique strength of credit unions has been an engine of success at the local level as more and more consumers recognize the value and rewards of buying American-made products."
Invest in America's other partners include Sprint, FTD, CU Benefits Express and Allied Moving and Storage.