CU Xpress Lease Expands into Northern California
PremierOne Credit Union plans on launching their lease program with CU Xpress Lease to its members in Santa Clara county by the beginning of the fourth quarter in 2020.
Belinda Metzler, Vice President of Lending for PremierOne Credit Union stated, "Santa Clara County represents one of the fastest growing lease markets in the United States. As we work our way through the COVID-19 pandemic, we understand that potential car buyers will be even more laser-focused on finding the best monthly payment. Our partnership with the CU Xpress Lease program allows us to offer lease payments that are competitive with the captives, which in turn will result in significant volume we had zero exposure to previously. Most importantly, our partnership allows us to focus on what we do best, which is managing credit risk, without taking on the residual value risk or exposing ourselves to any excess wear and tear or over-mileage associated with leases."
Added Robert O'Hara, Director of Credit Union Relations for GrooveCar, "We are excited to collaborate with a forward-thinking credit union like PremierOne Credit Union by bringing our lease program to their members and consumers in their market. Car shoppers are payment-driven and leasing provides a true medium for credit unions to capture that volume while becoming far more relevant with dealers in their market."
About CU Xpress Lease
CU Xpress Lease, a Fusion Auto Finance lease product, is the nation's premier automotive leasing program for credit unions that generates a solid return on investment, delivers high member satisfaction, and guarantees 100% residual value at lease maturity. Total volume of the program exceeds $5.2 billion and 145,000 vehicles. Additional information can be found at https://www.groovecarinc.com/