The online platform provides new and efficient ways for credit unions to form new relationships and build on existing, new partners agree!
HAUPPAUGE, N.Y. - July 31, 2017 - PRLog -- It's been an exciting year for GrooveCar's automotive online buying program. Growth in 2Q continues with 22 new credit union partners joining and launching their programs. This is great news as credit unions continue to form relationships with new and existing members and borrowers continue to come back for the same or new products. Providing new and efficient ways for obtaining auto related information keeps member interest high. Credit unions are building up huge auto lending portfolios and members are expected to sell or trade up during 2017, leading to more volume. "GrooveCar provides a resource that can meet the online buying needs of members who look for a new vehicle, research trade-in values or buy a pre-owned vehicle, from one location. It's vital to capture member interest and provide a positive loan and shopping experience. It's a one-stop shop. Credit unions realize they have precious seconds to serve members and direct them to where they need to go in auto buying. The platform delivers on all fronts," explains Robert O'Hara, Vice President of Strategic Alliances, GrooveCar Inc.
The online program continues to provide credit unions with an online advantage through engagement and convenience features, recent upgrades include: Market Value Pricing letting members know what other consumers are paying; Finance Calculator that offers an option for credit unions to include life and disability insurance and GAP products into the monthly payment; and Cloud Storage allowing credit unions to access through a password protected log-in their customized marketing support materials.
Powerful tools that help credit unions connect with members and auto dealerships while harnessing cooperative buying power are some of the key elements of its success. Credit unions joining the program realize the host of options available to them, continuous support and the easy launch process make for a wonderful ongoing relationship with GrooveCar. "In addition to the marketing and online tools, GrooveCar also provides IT and dealer representatives to increase success," explains O'Hara.
Joining the program include: Alcon Employees FCU, TX, with assets of $27 million, serving 2,918 members; Bay Ridge FCU, NY, with assets of $204 million, serving 8,107 members; Belen Railway Employees CU, NM, with assets of $28 million, serving 1,995 members; Corner Stone CU, TX, with assets of $21 million, serving 5,096 members; Education First CU, OH, with assets of $98 million, serving 13,758 members; Educators CU, TX, with assets of $372 million, serving 30,201 members; Embarrass Vermillion FCU, MN, with assets of $31 million, serving 3,628 members; Employees FCU, OK, with assets of $21 million, serving 2,710 members; Green Country FCU, OK, with assets of $60 million, serving 7,792 members; Justice FCU, VA, with assets of $706 million, serving 57,793 members; Kerr County FCU, TX, with assets of $60 million, serving 9,591 members; Lufkin FCU, TX, with assets of $33 million, serving 4,431 members; Money One FCU, MD, with assets of $123 million, serving 12,471 members; Mosaic FCU, VA, with assets of $13 million, serving 4,213 members; Northern States Power CU, MN, with assets of $47 million, serving 3,598 members; One Community FCU, WV, with assets of $72 million, serving 7,164 members; Rancho FCU, CA, with assets of $90 million, serving 10,396 members; Sacred Heart FCU, TX, with assets of $39 million, serving 2,520 members; SEFCU, NY, with assets of $3 billion, serving 243,505 members*; St. Columbkille FCU, OH, with assets of $23 million, serving 2,194 members; Taylor CU, WI, with assets of $54 million, serving 7,930 members; and Victoria FCU, TX, with assets of $10 million, serving 1,492 members.
*SEFCU headquartered in Albany, NY, is among the 50 largest credit unions in the U.S. with more than $3 billion in assets and serving 330,00 members at over 47 branches in the Capital Region, Binghamton, Syracuse and Buffalo.
Founded in 1999, GrooveCar provides automotive loan growth solutions to credit unions nationwide while providing their members, as well as the general-public, with the most informative and user-friendly auto search engine. With its 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 market. CU Xpress is the leading credit union lease program in the nation. Additional information on GrooveCar or CU Xpress Lease may be found at http://www.groovecarinc.com.
Director of Public Relations
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GrooveCar Announces Partnership Growth Q2 2017 with 22 Credit Unions Joining the Program
July 31, 2017 at 10:00 AM EDT