CLINTON, Township, Mich. — The numbers at Central Macomb Community CU are a microcosm of the broader growth at the state level.
Heather Bade of the $150-million CMCCU, agreed that the absence of automaker financing has opened the door for her credit union. "The dealers know we are here to provide them with a financing resource," said Bade, VP-marketing/human resources.
The Invest in America program, offered through CUCorp, also played a part in the credit union's auto loan business jumping by 57% in the first quarter and 8% in the second quarter, compared with the same times last year, she added. For members who are pre-approved for a loan and use Invest in America, CMCCU delivers an additional 50-basis-point discount on its car loans, which at press time returned a rate of 4.5% for terms up to 60 months. "We are helping members and the auto industry at the same time."