GrooveCar Direct adds 15 Credit Unions to Car Buying Program in Q3
Platform connects members and increases auto loan portfolios!
It is no secret members are online looking for their next vehicle. In fact, it is the first place they go. With GrooveCar Direct, credit unions can be present during this quest, delivering everything the member needs while keeping them engaged with the credit union. GrooveCar Direct delivers a feature-rich, third-party online product for auto buying, with all the tools necessary for vehicle research, shopping and buying.
Members receive a specialized experience with the GrooveCar program that reacts to the members in real-time with search criteria from type of vehicle to what the member wants to pay each month. This is further enhanced with payment calculators, off-lease vehicle and new vehicle inventory from a comprehensive national database. Credit unions report that members find such tools as comparing and saving vehicle searches, locating a dealer and refinance options important to completing the purchase.
Credit unions continue to experience growth in membership, a trend that is expected to continue through 2019. The GrooveCar Direct program is providing new opportunities for credit unions to be a vital partner to members in the vehicle buying process. Credit unions joining GrooveCar Direct in Q3 2018 include: Academic Federal Credit Union, Briarcliff Manor, NY with assets of $37 million serving 3,127 members; Conservation Employees Credit Union, Jefferson City, MO, with assets of $112 million serving 8,186 members; Education Personnel Federal Credit Union, Danville, IL, with assets of $52 million serving 4,056 members; Evergreen Credit Union, Portland, ME, with assets of $287 million serving 22,451 members; Finger Lakes Federal Credit Union, Geneva, NY, with assets of $124 million serving 15,292 members; Golden Circle Credit Union, Massillon, OH, with assets of $86 million serving 8,781 members; Hopewell Chemical Federal Credit Union, Hopewell, VA, with assets of $38 million serving 3,571 members; LM Federal Credit Union, Baltimore, MD, with assets of $39 million serving 3,601 members; New Dimensions Credit Union, Waterville, ME, with assets of $154 million serving 16,975 members; North Alabama Educators Credit Union, Huntsville, AL, with assets of $96 million serving 10,449 members; North East Welch Federal Credit Union, North East, PA, with assets of $17 million serving 2,777 members; The West Tennessee Credit Union, Memphis, TN, with assets of $17 million serving 1,395 members; United Equity Credit Union, Decatur, IL, with assets of $41 million serving 3,814 members; Virginia Beach Schools Federal Credit Union, Virginia Beach, VA, with assets of $95 million serving 7,614 members; and Western Sun Federal Credit Union, Broken Arrow, OK, with assets of $179 million serving 24,671 members.
The platform is turn-key, taking as little as 24 hours for members to start enjoying a vehicle buying service of their own, through their credit union. GrooveCar Direct also provides credit unions with consulting services, marketing support and help setting up and managing preferred dealer networks.
Founded in 1999, GrooveCar, a Fusion AF company, provides automotive loan growth solutions to credit unions nationwide. The platform serves credit union members, as well as the general public, with the most informative and user-friendly auto search engine. The program is combined with an expansive dealership network surpassing five million vehicles; GrooveCar facilitates the entire car buying process, including shopping, researching, buying, leasing, and financing. Through the national auto-leasing program CU Xpress Lease, credit unions can take advantage of leasing opportunities in the new and pre-owned vehicle markets. CU Xpress Lease is the leading credit union lease program in the nation. Additional information on GrooveCar or CU Xpress Lease can be found at http://www.groovecarinc.com.