LOWER POTTSGROVE PA – A national program that allows members of credit unions to buy new cars at a discount was adopted last week (Jan. 13, 2009) by Diamond Credit Union, 1600 Medical Dr.
The nationwide “Invest In America” program, of which Diamond is now a part, allows its members to save on the purchase of a General Motors or Chrysler vehicle and also offers access to affordable financing. More than 8,000 credit unions are participating, with more than $80 billion low-cost auto loans for purchases. However, the promotion is scheduled to end June 30.
It provides rebates of $500 or $1,000 on eligible Chrysler, Jeep and Dodge vehicles, in addition to most existing cash incentives that Chrysler offers on its vehicles; or it allows enhanced discounts under the GM Credit Union Member Discount Program.
Historically, credit unions offer lower loan rates than other financial institutions. According to a Datatrac survey of more than 17,000 financial institutions, the average credit union loan rate during the past two months was 5.4 percent, compared to 6.9 percent for the average bank rate.
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