David Adams, president/CEO of the Michigan Credit Union League and Affiliates, said he is proud of the Invest in America program's progress.
The National Credit Union Foundation announced this week that Invest in America is the recipient of the 2012 Herb Wegner Memorial Award for Outstanding Program.
“Invest in America was born during the credit crisis in the fall of 2008 when U.S automakers could not sell vehicles, in part due to a lack of consumer credit,” Adams said. “Credit unions stepped in to help fill the void and Invest in America partnerships helped GM and Chrysler weather the storm as credit unions gained market share in new vehicle financing for GM and Chrysler products.”
IIA was launched by CUcorp, a wholly owned subsidiary of the Michigan league. It later became CU Solutions Group, a national marketing company that currently manages the program.
Adams said IIA has secured several partnerships including one with Intuit, which offer members TurboTax tax filing discounts.
He noted the program's three-prong strategy is to help CUs make vehicle loans, generate noninterest income and enhance their card solutions with a broad suite of member discounts on thousands of products through Shop America, an online mall.
“IIA's success though is a direct result of the support of our 46 state association partners and the thousands of credit unions that promote these offers to their members,” Adams said.
Invest in America will be presented with the Wegner award at a dinner hosted by the NCUF at the Grand Hyatt Washington on March 19, 2012 during CUNA's Governmental Affairs Conference.
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