In an effort to stabilize the unsteady status of the American auto industry, the Invest in America Program was launched nationally in January. The program gives Americans the opportunity to "invest in America" while saving thousands of dollars in the process. Local credit unions are excited about the benefits.

Under this program, credit union members may purchase new Chrysler and General Motors vehicles at discounted rates. Sometimes, the prices are lower than employee pricing.

If the car is financed through the credit union, they may save even more because credit unions traditionally offer lower rates than bank financing.

The Invest in America Program was launched in January and most area credit unions are buzzing about its success. According to Judy Harris, marketing coordinator of Horizon Federal Credit Union in Williamsport, nationwide, more than 1,200 credit unions have jumped on board. The program has generated about $2.1 billion in sales to GM and Chrysler companies.

"We are seeing some result here. Pennsylvania credit union members have bought a total of 1,767 vehicles from Chrysler (with the program). They have bought 2,226 GM vehicles (with the program). That is from January through March," Harris said.

According to Jeff Balestrimi, vice president of Service First, Chrysler offers $500 rebates on top of the employee pricing. General Motors offers their vehicles at supplier pricing, which, according to Balestrimi, is lower than employee pricing.

"It's been a great success for us right now. We all know the difficulty the car industry is having right now. This program offers double rewards. People get to help fellow Americans while saving for themselves," Balestrimi said. "$1.27 billion has been generated in new auto loans."

According to Barbara Vitolo, president of Wyrope in South Williamsport, there is money to lend.

"The car making industry affects so many people. The industry is intertwined through our entire economy," Vitolo said.

"One auto worker supports nine other Americans, whether it is through the police, schools or grocery stores. They each support nine other Americans. So, if we lose those automakers, it will be hurting other people and there will be a rippling effect," Harris said.

Credit unions, which generally are conservatively run, have withstood the economic turmoil with more grace than the banks have, according to proponents.

"We have not undertaken a lot of high-risk loans and in turn sold them, like the banks have. We know our members. We deal locally. Banks, as I see it, are owned by stockholders and in turn need to give a return back to them. They are forced to increase their bottom lines as much as possible," said Robert W. Horner, president of West Branch Valley Federal Credit Union.

According to Horner, General Motors will be adding certified pre-owned vehicles to the program. No date has been indicated when this will happen.

"I believe that the auto industry chose us because the credit unions are known for helping others," said Jeff Balestrimi, vice president of Service First.