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CUDL and Kia Motors America Enter New Partnership

March 25, 2009

ONTARIO, Calif. — CUDL, which administers a point-of-sale and indirect auto-lending network for credit unions, has partnered with Kia Motors America (KMA) to provide credit union members with discounts on new vehicle purchases.

The new partnership between the Credit Union Service Organization (CUSO) and KMA provides members at CUDL’s partnering credit unions access to special manufacturer discounts on the purchase of new Kia vehicles.

The program will be rolled out in the states of Washington and Oregon, providing CUDL credit union members in those two states the opportunity to take advantage of discounts being offered on all 2008 and 2009 new Kia vehicles. Credit union members purchasing a new Kia vehicle will receive either a $500 or $1,000 discount, depending on the vehicle model purchased.

The initial discount program will run now through April 30, 2009, and will be offered to CUDL’s 71 credit unions and 22 partnering Kia dealerships in Washington and Oregon. Executives from CUDL and KMA confirmed that the partnership includes expanding the discount program into other markets across the country, although a time table has not yet been finalized for additional roll-out.

The CUSO’s auto lending network currently includes 700 credit unions and their 20 million members nationwide, and includes more than 260 partnering Kia stores throughout the U.S.

“This is a great opportunity for us to continue to build the Kia brand and provide additional financing options to new and existing customers as well as to our dealers,” said Tom Loveless, vice president sales, KMA. “It also serves to help us strengthen our network of partnerships with various financial institutions and relationships with their members.”

Through the program, CUDL credit union members will save $500 on any new Kia Spectra, Rio, Sportage, Optima, or Rondo models and $1000 on any new Kia Sedona, Sorento, Amanti, or Borrego. The credit union member discount can be used in combination with any other incentives being offered by Kia dealerships, providing members with a deeper discounted price on their new vehicle.

“We are very excited about our partnership with Kia Motors America and the new opportunities it will offer our credit unions, their members and our Kia dealers,” stated Jerry Neemann , CUDL’s executive vice president and CSO. “Our goal through this new partnership is to help our credit unions’ capture loans, offer members discount value on their next Kia purchase, and to provide our Kia dealerships with new customer opportunities to help grow their bottom lines.”

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