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Michigan League Cites Invest in Big Auto Loan Gains

Relying on second quarter call reports, the Michigan Credit Union League claimed Invest in America has given "a very real and record breaking" boost to the auto business.

By Jim Rubenstein | Updated on September 09, 2009

Relying on second quarter call reports, the Michigan Credit Union League claimed Thursday its Invest in America discount and financing program has given “a very real and record breaking” boost to the auto business with an 8.5% increase in new auto loans equating to $2.2 billion in auto loan balances as of June 30.

Moreover, the Invest plan with General Motors, Chrysler plus a Ford pilot, demonstrates anew the “buy American” philosophy supported by credit unions and inherent in rebuilding the shattered U.S. economy, said the league.

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