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National media report CUs deal with GM
MADISON, Wis. (12/12/08)--National media coverage has resulted from Wednesday’s announcement that credit unions in four Midwestern states are teaming up with General Motors Corp. (GM) to offer low-cost auto loans. Articles were published about the “Invest in America” plan in USA Today, The Wall Street Journal, CNN Money, and U.S. News & World Report. Automotive industry publications Automotive News, Automobile Magazine and Cars.com reported the incentive. That’s just for starters. Both the Washington Post and the The New York Times steered articles about other topics—namely GM’s financing company, GMAC, hitting a roadblock in its effort to transition into a bank holding company--to the topic of credit unions and GM’s incentive plan. Some media welcomed the positive news. For example, the “Rankings and Reviews” section of U.S. News & World Report (Dec. 11) reported, “We’ve had nothing but bad news to report about the state of the automotive credit industry for months, but this morning we’ve got something good to report. If you live in the Midwest and need a new car, try joining a credit union. They’ve got new money to lend.” Many had positive headlines about credit unions. “Credit unions come to Aid of Troubled Automakers,” reported Consumer Affairs (Dec. 10). “GM looks to credit unions to help finance new vehicles,” said Automotive News (Dec. 11). “Looking for a new car? Credit unions, GM team up to offer,” wrote The Flint Journal (Dec. 10). “Credit Unions to Offer Deals to Spur Auto Sales” appeared in The Wall Street Journal (Dec. 10). The story also hit newspapers globally. Global Insight Daily Analysis reported on it, as did The Toronto Star in Canada. Newspapers and broadcast media in the four states involved—Michigan, Ohio, Illinois and Indiana—also covered the announcement. News Now spotted articles in The Detroit Free Press, Detroit News, Lansing State Journal, The Flint Journal, Toledo Blade, and Crain’s Cleveland (Ohio) Business. Many picked up the article from Associated Press and Dow Jones Newswire. For more details about the program, use the www.lovemycreditunion.org resource link or refer to the News Now article (Dec. 11).
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