Credit Unions Expand Car Loan Program To Chrysler

LANSING, Mich. (AP) - A group of credit unions in the Midwest and South is expanding a discount program for car buyers to include vehicles made by Chrysler LLC.

The credit unions said Tuesday they will offer their 14 million members in 12 states rebates of $500 to $1,000 on eligible Chrysler, Jeep and Dodge vehicles.

The group is also pledging another $12 billion in auto loans. The Michigan Credit Union League says the loan rates average about 1.5 percentage points less than average bank rates.

Last week the group started a pilot version of the program with $10 billion in financing for people buying cars from General Motors Corp. in Michigan, Ohio, Indiana and Illinois.

The expansion adds credit unions in Oklahoma, Texas, Kentucky, Arkansas, Tennessee, Louisiana, New Mexico and Mississippi.

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On the Net:
Credit unions' "Invest in America" program: http://www.lovemycreditunion.org

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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