LANSING, Mich. — The new "Invest in America" auto financing program unveiled by the Michigan Credit Union League and a CUNA-linked CU consortium becomes "all more important now" to CUs in light of the automaker's extraordinary month-long plant shutdown.
That was the message issued Thursday by David Adams, the president/CEO of the Michigan league commenting on what he said are enhanced "opportunities for credit unions to help domestic automakers survive" based on urgent need for low-cost borrowing capacity.
"All auto companies, including foreign automakers have lots of inventory right now and thus the importance of low-cost and available" financing becomes paramount, he said.
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