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Michigan Credit Union League

CU Publications Report on Success of GM Credit Union Member Discount

The success of the sun setting GM Credit Union Member Discount program is receiving positive media coverage throughout the industry.
On Monday, CU Solutions Group CEO Dave Adams announced the GM Credit Union Member Discount program which offered exclusive savings on GM vehicles to credit union members will sunset on Oct. 1.
The CU Journal, The CU TimesCU Today and CUNA reported on the success of the program which included $20 billion in GM sales revenue and the sale of nearly 1 million vehicles while creating 400,000 loans worth $9.2 billion to credit unions.
The innovative program started 6 and half years ago during a difficult time for the automotive industry.
"We were confident that bringing this great value and brand to credit union members would drive growth for both GM and credit unions, but had no idea of the success that this partnership would bring,” Adams said.
Adams cited GM’s improved financial strength and the strong demand for its products as the driving forces behind the decision.
GM reported on Tuesday that Chevrolet, Buick, GMC and Cadillac brands sold more than 270,000 vehicles in the United States in August of this year. Retail deliveries jumped 6 percent compared to a year ago, when results included the Labor Day holiday, according to GM.
"Partnerships change for a variety of reasons,” Adams said. “However, it is rare to see things end on such a successful note.”
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2015-09-08 00:00:00