GrooveCar Direct is adding fifteen new credit unions as members of their car buying program where they can improve their member connections, grow loans, and generate better leads. Credit Unions using the program report an intense increase in financing since they started the program. The vehicle buying program improves credit union's access to secure loans and provide better advice for their member.
"Credit unions need to cut through the online noise and capture their members' attention with a resource that provides all the features to get members into vehicles," states Robert O'Hara, VP Strategic Alliances, GrooveCar.
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.
Edited by M. Hunt
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