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CUDL Kia team on auto discounts in Wash. Ore.
ONTARIO, Calif. (3/25/09)--CUDL, which administers a point-of-sale and indirect auto-lending network for credit unions, announced it has entered into a new partnership with auto manufacturer Kia Motors America (KMA) to provide discounts in Washington and Oregon. The partnership between the credit union service organization (CUSO) and KMA provides members at CUDL’s partnering credit unions access to special manufacturer discounts on the purchase of new Kia vehicles. The program will be rolled out in Washington and Oregon. Members in those two states will receive discounts offered on all 2008 and 2009 new Kia vehicles. Credit union members purchasing a new Kia vehicle will receive either a $500 or $1,000 discount, depending on the vehicle model purchased. The initial discount program will run through April 30, and will be offered to CUDL’s 71 credit unions and 22 partnering Kia dealerships in Washington and Oregon. Executives from CUDL and KMA confirmed that the partnership includes expanding the discount program into other markets nationwide, although a timetable has not been finalized. The CUSO’s auto lending network currently includes 700 credit unions and their 20 million members nationwide, and includes more than 260 partnering Kia stores throughout the U.S. “This is a great opportunity for us to continue to build the Kia brand and provide additional financing options to new and existing customers as well as to our dealers,” said Tom Loveless, vice president of sales, KMA. “It also serves to help us strengthen our network of partnerships with various financial institutions and relationships with their members.” CUDL credit union members will save $500 on any new Kia Spectra, Rio, Sportage, Optima or Rondo models, and $1,000 on any new Kia Sedona, Sorento, Amanti or Borrego. The credit union member discount can be used in combination with any other incentives offered by Kia dealerships, providing members with deeper discounts. “Our goal through this new partnership is to help our credit unions capture loans, offer members discount value on their next Kia purchase, and to provide our Kia dealerships with new customer opportunities to help grow their bottom lines,” said Jerry Neemann, CUDL’s executive vice president and chief security officer. CUDL also has partnered with Livonia, Mich.-based CUcorp to promote “Invest in America,” credit unions’ nationwide auto lending program with General Motors and Chrysler.
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