LIVONIA, Mich. (9/1/15)--CU Solutions Group’s exclusive GM Credit Union Member Discount program will be suspended Oct. 1, announced CU Solutions Group CEO David Adams Monday.
General Motors’ improved financial strength and the strong demand for its products drove the decision, said Adams, noting “it is rare to see things end on such a successful note.”
General Motors’ discount on cars sold to credit union members began in 2008 when the auto industry was experiencing difficulties. CU Solutions Group and its credit union member rewards program approached GM with an opportunity to earn the loyalty of credit union members nationwide.
During the past six and a half years, CU Solutions Group’s credit union member rewards program, Love My Credit Union Rewards (formerly called Invest in America), accounted for more than $20 billion in GM sales revenue and created $9.2 billion in credit union member loans. Credit unions helped GM sell nearly one million vehicles and added 400,000 loans to their loan portfolios.
“As with anything new, there are always doubts. In fact, many within the credit union industry wondered whether our program with GM would even last six months,” Adams said. “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.”