Invest in America Incentives Target Employee Groups at CUs
Credit union members in specific professions will be able to take advantage of an additional incentive offer through Invest in America.
The "Private Offer" incentive provides members with an additional $750 off a new GM vehicle on top of other incentives. The Private Offer will be available to a different employee group every 60 days.
From March 1 to April 30, the offer will be extended to health care professionals, May tand June will be for education professionals, July and August will be for public service professionals, September and October will be for labor and trade professionals and November and December will be for military professionals.
In order to offer the incentive to members credit unions should sign up with CUcorp 45 days prior to when the offer is slated to start. Participating credit unions will receive a marketing mailer they can send out to eligible members that has a special code embedded in it so the member can come specifically to that credit union for financing to receive the discount.
The incentive is available to credit unions on a first-come first-serve basis. Participating creidt unions tell CUcorp how many authorization codes they will need and CUcorp provides the marketing promotional piece with the code for credit unions to mail out to members.
"The key piece to this is that with credit unions expanding to broader membership original SEG's may feel neglected or that they're not getting anything special," said Kim Irwin, vice president of Invest in America.
Dave Adams, CUcorp president, added that the groups are very broadly defined so that virtually all credit unions have members that fit into one of the categories.
"We're asking credit unions to do something different and to get creative and aggressive. Credit unions can continue to carve out opportunities if they take advantage of opportunities like this," Adams said.
Invest in America worked with Navy Federal Credit Union and Pentagon Federal Credit Union to design and structure the Private Offer incentive. Irwin said they are working with Chrysler to develop a similar type of incentive with exclusivity on financing.
If the program is successful Irwin said that it could lead to increases in credit union member discounts going forward.