Credit Unions Respond to Car Buyers’ Behaviors

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The Importance of Social Media to Your Auto Loan Portfolio

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New GrooveCar Direct Case Study Now Available!

Learn how one credit union grew their auto loan portfolio by 31%
GrooveCar Direct is pleased to announce the release of a new case study demonstrating best practices in merging its direct and indirect marketing strategies, with incremental loan growth benefits. This study, which was done in cooperation with CAP COM Federal Credit Union (CAP COM FCU), is now available to credit unions nationwide by visiting go.groovecarinc.com/capcom_casestudy
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Have You Hugged Your Auto Dealer Today?

The GrooveCar Direct program is an effective way to reach members during the auto shopping phase, and appeal to them as a guide throughout the entire process before they even reach the dealership. However, it would be wise not to completely ignore the credit union's relationship with local dealers, who play a crucial role in the auto loan process.

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A Shifting Mindset to Auto Loan Engagement

When is an auto loan not about the loan? It’s no riddle, the answer is simple: When it's just about the car. Universally, members have a positive reaction to the car they are buying, and a negative reaction to the loan. Even if the rate is low and the terms are great, the thought of parting with money or getting into debt can be a painful one. However, when a member is wrapped up in the good feelings of buying their dream car, they feel more positive about going through the auto loan process.  Therefore, if a member is fixated on price, it’s best to turn their attention elsewhere.

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