GrooveCar’s New Auto Buying Platform Delivers

Partnerships are up over 165% since new release

GrooveCar’s credit union specific, auto-buying resource has been receiving tremendous praise for its innovation, performance, value and relevance. The enhanced and forward thinking platform was launched in early 2016 and was preceded by over a year of planning and design. “With over 97 percent of car buying originating online we wanted to provide an information rich and mobile friendly resource for members. Designed to drive faster results, credit unions have been utilizing the new features and updates to increase auto-lending activity. The new look has also improved the member experience,” explained Frank Rinaudo, Sr. Vice President, GrooveCar.

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GrooveCar Webinar To Assist Partner CUs In Increasing Loans

HAUPPAUGE, N.Y.—GrooveCar has developed a webinar series to assist its partners with targeting key demographics to increase loan portfolios.

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Connect with Millennials to Ensure Auto Loan Growth

GrooveCar announces next webinar for credit unions will be October 5th

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GrooveCar Announces Millennial Auto Buying Webinar for Credit Unions

A step-by-step plan on harnessing the purchasing power of Millennials

GrooveCar, the nation’s leading auto shopping and lending resource for credit unions has developed a webinar series to assist its partners with targeting key demographics to increase loan portfolios. The first webinar in the series starts October 6th, entitled “How to Connect with Millennials to Ensure Auto Loan Growth.” Attendees of the webinar will review a step-by-step approach to reaching and serving their growing millennial membership. 

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Striking the Right Balance Between Growth and Risk

The buzz around the industry has all eyes on collateral values, which are expected to continue to decrease into 2018. Questions remain:  How long will this trend continue?  What percentage of consumers that own a car will now have negative equity and will this negative equity position lead to more credit defaults?  What can credit unions do to protect themselves? As we know, the appraised value of an asset being used as collateral today, may not hold the same value over the course of the loan. While we hope adjustments and decreases do not affect values dramatically, there are checks and balances that can be put in place to mitigate the impact on your auto loan portfolio.

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