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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Fusion Auto Finance Acquires GrooveCar

Bedford, TX (August 10, 2017) – Fusion Auto Finance, the leader in credit union leasing, announced today that it has acquired the GrooveCar Family of Brands, the industry’s premier auto buying program for organic loan growth, for an undisclosed sum. 

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GrooveCar Introduces the Auto Refinance Calculator

Credit union members can see immediate savings!

GrooveCar has added an auto refinance calculator to its vehicle buying resource. With low auto loan rates in abundance, credit union members can now calculate their savings in an easy to use refinance tool found on the website. “This is a great feature for members to witness savings instantly by inputting information on their current loan. Fast results and easy to use instructions allow members to see a calculated lower monthly payment. In some instances this may save thousands over the life of the loan,” explains Robert O’Hara, Vice President of Strategic Alliances at GrooveCar.

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GrooveCar Announces Partnership Growth Q2 2017 with 22 Credit Unions Joining the Program

The online platform provides new and efficient ways for credit unions to form new relationships and build on existing, new partners agree!

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GrooveCar joins the Dealertrack Credit Application Network

Partnership simplifies real-time credit application submissions for credit unions

HAUPPAUGE, NY (July 28, 2016) — GrooveCar, the nation’s leading online automotive buying resource for credit unions, announced that GrooveCar dealership clients will be able to submit credit applications to their connected credit unions via the Dealertrack Credit Application Network.

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