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CU System
ITimeI notes CUs program in Chrysler story
NEW YORK (11/11/09)--Credit unions’ participation in “Invest in America” was noted in a Time magazine article Nov. 4. The article, “Amid tumbling sales, Chrysler looks to future,” examined Chrysler’s future amidst an economic downturn. Chrysler, which declared bankruptcy in June, reported a 30% drop in October sales on Tuesday. However, Time noted that Chrysler has been supported by the “Invest in America” program, which provides discounts to Chrysler vehicle buyers who receive financing through a credit union. More than 2,000 credit unions nationwide have promoted the “Invest in America” program and discounts on Chrysler products, the magazine said. “Invest in America” also offers discounts on General Motors vehicles. Chrysler’s financial position has improved, Sergio Marchionne, Chrysler’s CEO, told Time. Chrysler’s cash reserves increased to $5.7 billion from $4 billion since the company came out of bankruptcy, he added. To read the article, use the link.
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