Credit unions have gained ground against other auto finance providers in the last several years. Today, credit unions took another important step forward by securing their second batch of manufacturer pricing incentives directly from an OEM.
In the latest boon for credit unions, Chrysler agreed to offer pricing incentives directly to credit unions, as part of the “Invest in America” discount program for credit union customers. GM also offers credit unions incentives.
Some details on the Chrysler deal:
* Credit union members will receive preferred pricing on all 2009 Chrysler, Jeep, Dodge and Ram Truck vehicles and select 2010 vehicles. The discounts are available regardless of where members gain financing. More than 2,000 credit unions in all 50 states have been promoting “Invest in America” discounts, driving members back to domestic automakers.
* The preferred pricing for credit union members will be 1% below the dealer invoice price. It will be a “no haggling discount.”
* The program is said to “bring savings” to 90 million credit union members.
