GM, Chrysler, credit unions expand loans

updated 4:05 p.m. ET Jan. 7, 2009

NEW YORK - General Motors and Chrysler say they’re both expanding deals that offer low-cost loans and special pricing incentives to credit union members to all 50 states.

The programs started last month as a deal between Detroit-based GM and credit unions in four Midwestern states.

Auburn Hills, Mich.-based Chrysler later followed with a deal with credit unions in 12 states.

Both automakers say the programs helped spur sales in December.

The expansion is expected to give 90 million members of nearly 8,000 credit unions across the country access to low-cost loans for GM and Chrysler vehicles.

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