ALBANY, N.Y.–CAP COM FCU here has selected GrooveCar to provide its members with vehicle purchasing services. The $1-billion CAP COM has more than 128,000 members.
“CAP COM is one of the largest credit unions in upstate New York serving a robust area with members spread throughout a diverse region. Our approach to serving members included a fully customized platform to meet their auto-buying needs,” explains Robert O’Hara, Vice President of Strategic Alliances, GrooveCar Inc., Hauppauge, NY.
GrooveCar said its resource provides credit unions with the ability to serve members with pertinent information needed to complete the car buying process. Industry data has found when it comes to member engagement, 97% of car buying begins online over an average of four months. The goal of the program is to capture more loans by connecting with members during the research phase of the car purchasing cycle, the company said. GrooveCar said its program insures credit unions’ messaging will be present during every step of the car buying journey.
Providing members with a resource specific to their needs with a large selection of regional inventory and leveraging dealership relationships, was a priority for CAP COM.
“Over the years, we’ve established great partnerships with local dealers. GrooveCar allows us to leverage those relationships for our members in a way that is more convenient. They can shop multiple dealers from the comfort of home to find the right vehicle and still take advantage of preferred pricing as well as the guidance of CAP COM’s car buying experts,” said Cliff Carignan, CAP COM’s director of lending.
GrooveCar sait it worked with CAP COM to customize all aspects of the program. This included combining the members’ desire for a new or pre-owned vehicle and matching it with available local inventory, special credit union pricing and offers from the credit union’s preferred dealer network. GrooveCar’s platform combines the power of digital and traditional marketing programs along with sales strategies to optimize the member experience while capturing more loans for their credit union partners.
According to GrooveCar, with CAP COM, the customization of the program went a few steps further to incorporate the synergies present between their preferred dealer network and the credit union.
“We took CAP COM’s existing preferred dealer network and added these dealers inventory to the site while removing all inventory we previously had within 250 miles of CAP COM’s central location. CAP COM wants to build stronger relationships with their preferred dealers while eliminating dealers from their auto buying site that do not push business back to CAP COM. We want credit unions to recognize you don’t have to settle for a one size fits all car buying program, GrooveCar can customize the program to match the credit union’s needs and not the other way around. We truly see our role as a partner to their success,” stated O’Hara.
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