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After nearly seven years and one million vehicles sold, including thousands in Maine, General Motors announced that it will suspend the credit union member discount offered through CU Solutions Group's credit union member rewards program effective October 1st. Since it was first introduced just a few months after the financial crisis in 2008, Maine CU members have saved more than $1.5 million through this program.
"When it was introduced, the GM discount program was a great opportunity to help credit unions and members support the U.S. auto industry and receive significant savings. The program was popular with Maine credit unions, and we appreciate the value it provided to consumers. We recognize that the economic landscape is much different than it was seven years ago, so understand the decision to discountinue the program at this time," stated your League's President John Murphy.
According to your League, at least one member at every Maine credit union saved money through this program. "It certainly provided a boost to auto lending at a time when the economy and consumers were struggling," added Murphy.
Starting Sept. 1, 2015 (for the last month of the program), members will need to verify to the dealer that they have been a member of the credit union for at least 60 days in order to qualify for the credit union member discount. Participating credit unions are asked to discontinue marketing the program to their members.
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