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After Nearly Seven Years and 1 Million Vehicles Sold, GM’s CU Member Discount Sunsets
Friday, September 4, 2015 6:45 AM

On Monday, CU Solutions Group CEO Dave Adams announced that the exclusive GM Credit Union Member Discount program will be suspended on Oct. 1, 2015. The GM discount for credit union members began in 2008 during very tenuous times in the automotive industry. CU Solutions Group and its credit union member rewards program approached General Motors with a unique opportunity to earn the loyalty of credit union members across the country.

According to Adams, few within the credit union industry believed the program would last. “As with anything new, there are always doubts. In fact, many wondered whether our program with GM would even last six months,” he 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 this partnership would bring.”

Over the last 6.5 years, CU Solutions Group’s credit union member rewards program, Love My Credit Union Rewards (formerly Invest in America), drove over $20 billion in GM sales revenue and in turn created $9.2 billion in credit union member loans.

“Partnerships change for a variety of reasons. In this case it was GM’s improved financial strength and the strong demand for its products that drove this decision," says Adams. "However, it is rare to see things end on such a high note.”

The growth of this partnership would not have been possible without the strong support of the credit union industry. Credit union associations promoted the program to their member credit unions. Credit unions marketed it directly to their members, and CU Solutions Group promoted it to the public. Together, Adams said in their press release, we helped GM sell close to 1 million vehicles while helping credit unions add 400,000 loans worth $9 billion to their loan portfolios during these past six and a half years.

The credit union industry was able to deliver great success to one of the best known brands in the country, bring exclusive savings to credit union members, and improve loan growth for credit unions during a time when success was hard to come by. This is the hallmark of the credit union movement—working together to help our members and our communities.

"This program was about cars and loans, but in 2009, it was also about helping to save the domestic auto industry, millions of jobs, and the financial well-being of so many families,” said Adams. “Credit union leaders should pause and be thankful for this unprecedented service opportunity that contributed so much in such a profound way."