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Welcome to the Love My Credit Union Rewards Blog!

Love My Credit Union Rewards is an exclusive discount program that was created (as Invest in America) in 2008 to help credit union members save on the products and services they use every day.

We began with the Credit Union Member Discount from GM and soon grew to include the Sprint Credit Union Member Discount as well as savings programs from TurboTax, DIRECTV, Allied Van Lines and ADT. Plus, we offer our own discount partners Love to Shop and the Credit Union Auto Club.

Our blog is to give you insider info on the latest discounts and share other ways to help you save. We hope you enjoy our blog and saving at LoveMyCreditUnion.org!

Tuesday, June 9, 2009

Why Buy an American Made Vehicle

There's a lot of talk these days about the American auto industry. One conversation that generates a lot of discussion is what defines an American made vehicle. Is it where it's made, where it comes from or where the profits go? For the sake of argument (and believe us there is a lot around this issue) we are defining an American made vehicle as one that is built by an American based company whose profits are returned to the United States, regardless of where its parts are made or where it is assembled. Why are we defining it this way? When you purchase a vehicle made by a company whose profits return to the U.S., the money you spent on that vehicle is re-invested in America and directly impacts the community services we all depend on. What could be more American than that?

So, why should you buy an American made vehicle? Let's look at some of the myths about the Big Three and the auto industry as a whole.
  • What happens to Detroit won't affect me. Not true. According to the Commerce Department, every job in auto assembly and parts production supports 2.4 additional jobs in the country. Based on this, three separate studies have reported that a major loss at the Big Three could result in up to 3 million jobs lost in the United States. American owned auto companies are one of our country's largest exporters and one of the largest buyers of raw materials. What happens to the Big Three impacts almost every industry in our country.

  • The dependability of the Big Three vehicles just isn't there. Again, not true. In the J.D. Power and Associates 2009 Vehicle Dependability Study, Buick tied Jaguar as the most dependable brand while GM ranked in the top 3 in 8 categories. U.S. News and World Reports ranked the 2010 Ford Fusion Hybrid, 2010 Chevrolet Malibu and 2010 Ford Fusion as the top 3 affordable midsized cars. GM and Ford have both rolled out payment protection plans that cover your payments for a certain period of time if you lose your job and GM has a plan to help consumers who purchase a GM vehicle now, but won't be able to trade it in because they owe more than it is worth. What's more dependable than that?

  • Foreign auto companies employ American workers so they help our economy. Yes, foreign owned car companies employ American workers - but not as many as American owned car companies. A research study by the Center for Automotive Research showed that at the end of 2007, international producers employed roughly 113,000 people in the United States, compared to the Big Three who employed 239,341. And, even though the foreign cars are made in America, the profits don't stay here, they go back to that auto company's country and support their economy, not ours.

  • The foreign automakers haven't asked for a bailout. Not yet, but three - Toyota, Honda and Mazda - may soon.

140,000 GM and Chrysler vehicles have been sold through the Invest in America program. This has helped reinvest $2.8 billion back into the U.S. economy. This is money that is returned to our communities and directly impacts our schools, roads, community services and economy as a whole. What your spend your money on really does make a difference. Do some research before you buy - seek out a high quality American made vehicle, and you won't regret it.

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