GM’s incentive to offer credit union members lower loan rates in addition to new car discounts is now going on a national scale. GM and Chrysler will make more than $80 billion in low-cost loans available through almost 8,000 credit unions nationwide, reports the Detroit News.
GM and Chrysler unveiled the program, named “Invest in America”, a month ago. The automakers joined with about 1,200 credit unions in Michigan, Ohio, Indiana and Illinois to offer buyers loans with low percentage rates. Chrysler expanded the program to 12 states when it joined.
"We’ve had very positive responses from our dealers to the four-state Midwest credit union pilot that is currently running," said Mark LaNeve, GM vice president, North America sales, service and marketing.
Chrysler executives announced Monday the program would be expanded to all 50 states. Check with your local credit union to see if it is participating in the program.