ABA to GM: Offer CU Member Discount to Bank Customers

General Motors’ $750 discount for credit union members buying a new Chevrolet, Buick or GMC car should be extended to bank customers as well, incoming ABA president and CEO Rob Nichols said in a letter to GM CEO Mary Barra today. Nichols emphasized that credit union customers already receive “subsidized credit” through the federal tax exemption for CUs.

“As you develop any future discount programs, ABA encourages you to consider all community-based lenders,” Nichols wrote. “Expanding your promotion to our members’ customers will be a win-win situation — our members will enjoy the opportunity to make more auto loans, and your dealers will be able to move more cars off the lot.”