LANSING, Mich. — The new "Invest in America" auto financing program unveiled by the Michigan Credit Union League and a CUNA-linked CU consortium becomes "all more important now" to CUs in light of the automaker's extraordinary month-long plant shutdown.
That was the message issued Thursday by David Adams, the president/CEO of the Michigan league commenting on what he said are enhanced "opportunities for credit unions to help domestic automakers survive" based on urgent need for low-cost borrowing capacity.
"All auto companies, including foreign automakers have lots of inventory right now and thus the importance of low-cost and available" financing becomes paramount, he said.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.