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CU System
CUDL CUcorp partner in marketing Invest in America
RANCHO CUCAMONGA, Calif. (1/22/09)--CUDL, a point-of-sale and indirect lending network for credit unions, has partnered with Livonia, Mich.-based CUcorp to promote "Invest in America," credit unions' nationwide auto lending program with General Motors (GM) and Chrysler. CUDL will promote the program to its 700 credit union partners, 20 million members, and 9,000 dealers nationwide. It also will facilitate credit unions' ability to provide member financing at more than 1,800 participating GM and Chrysler dealerships nationwide. In 2008, the CUDL Auto Lending platform generated $12 billion in credit union auto loans, said the Rancho Cucamonga, Calif.-based company. "Our goal is to help the program through CUDL's ability to facilitate member loans at the dealership and to further advance credit union auto lending growth and market share," said Tony Boutelle, CUDL president/CEO. The Invest in America partnership, which encompasses nearly 8,000 credit unions nationwide and GM and Chrysler dealers, aims to boost auto sales by making $80 billion of low-rate auto financing pledged by credit unions available to 90 million credit union members. The financing is added to purchase incentives provided by GM and Chrysler. So far, more than 8,000 new vehicles have been purchased through Invest in America since the program opened Dec. 8. David Adams, president/CEO of CUcorp and the Michigan Credit Union League, noted the partnership with CUDL will continue to push the discounts out to consumers. "It also expands GM and Chrysler dealership awareness and support for this important program. The bottom line is increased auto sales and more affordable financing through this partnership. This is meeting a critically important need for automakers." CUDL will increase member awareness and access to the discounts via its CUDL AutoSMART program. Participating credit unions can promote the program through their co-branded AutoSMART websites, where members can research automobiles and find deals through CUDL's inventory of 500,000 vehicles. In tandem with the CUDL partnership, CUcorp is working with GM and Chrysler to more effectively promote Invest in America through the dealership network nationwide.
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