Bay Ridge FCU Selects GrooveCar Platform To Provide Members Auto Services

BROOKLYN, N.Y.–Bay Ridge FCU here said it has selected GrooveCar’s online platform to give itsmembers the ability to finance their loan directly at the dealership while researching and shopping for new and pre-owned vehicles.

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Leasing programs look to get a boost in 2018…time to review strategies!

Now is the time to review strategies for growth. What worked, and what didn’t, as we approach 2018. What will serve members with what they want?  How does all of this benefit the member and the credit union? What’s the big picture?

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9 Things to Consider Before Developing an Indirect Lending Program

While there are many avenues to capturing auto loan growth, one of the best places to look for expansion is an indirect auto lending program. This channel can produce major results for credit unions looking to drive auto loan growth. One of the benefits of an indirect program is it will help the credit union reach new levels of success. Keep in mind credit union indirect auto loans reached a new high of $282.9 billion in the second quarter of 2016, according to Callahan & Associates, up 14% over year-to-date 2015. Indirect loans financed through credit unions accounted for nearly 54% of total auto loans as of June 30, 2016, up 3% from mid-year 2015. These are impressive numbers and represent a 3% increase over the previous year. Are these numbers enough to motivate greater engagement when it comes to indirect lending? It should.  

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Why There Is More Leasing Opportunities In 2018

HAUPPAUGE, N.Y.—Credit unions offering leasing programs should expect to compete on more vehicles in 2018, according to a forecast from GrooveCar.

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GrooveCar Adds 43 New CUs

Forty-three credit unions have signed on with GrooveCar's auto financing platform since July.

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