Over 420,000 new credit union members added to program in Q4
GrooveCar announces 17 credit union partners have joined the online vehicle buying program in Q4 2017, 84 in total for the year, and over 250 credit union partnerships since 2015. "This has been an exceptional year for helping credit unions reach new levels in auto loan growth. It's always gratifying to deliver a service that meets the members' desire to shop for all their vehicle needs online. Credit unions are steeped in member resources, an auto resource is another way to serve the member with what they are looking for," states Robert O'Hara, Vice President of Strategic Alliances, GrooveCar.
The GrooveCar platform helps credit unions capitalize on the desire of members to research and purchase a vehicle. The program works to engage members at all stages, especially as the process begins. GrooveCar helps credit unions close the sales and shopping loop between the member, the CU and the auto dealership. When the credit union is in the initial sales space with the member, there is a distinct advantage for the credit union to maintain their relevance from the beginning.
With the number of vehicles on the road continuing to climb, vehicle ownership and financing remains a priority for a member at all stages of life. It's important for credit unions to provide a resource that can serve members' needs, with the latest digital shopping tools. On-the-go, or anywhere the member may be, shopping for vehicles through their credit union has never been easier. "Our responsive technology delivers all the features the member enjoys when starting the process, just curious or full-on ready to buy. We help keep the credit union connected at all stages with lead generation tools built into such features as; vehicle searches and saves, loan calculation, trade-in values, Free CarFax reports and other valuable interactive features," explains O'Hara.
Joining the program: Abilene Teachers FCU, TX, serving 46,470 members with assets of $428 million; Antioch Community FCU, CA, serving 1,572 members with assets of $27 million; Arsenal CU, MO, serving 25,548 members with assets of $227.2 million; Central Oklahoma FCU, OK, serving 2,839 members with assets of $29 million; Family Focus, NE, serving 2,820 members with assets of $32 million; Georgia Power Valdosta FCU, GA, serving 3,579 members with assets of $24 million; Habersham FCU, GA, serving 3,724 members with assets of $20 million; Hope CU, MS, serving 34,079 members with assets of $201 million; Lake Trust CU, MI, serving 180,000 members with assets of $1.8 billion; Memorial Health CU, GA, serving 4,151 members with assets of $19 million; Merrimack Valley FCU, MA, serving 47,883 members with assets of $598 million; N.E.W. Credit Union, WI, serving 10,120 members with assets of $87 million; Tobacco Valley Teachers FCU, CT, serving 3,873 members with assets of $47 million; University CU, FL, serving 17,212 members with assets of $206 million; Wauna FCU, OR, serving 24,222 members with assets of $232 million; West Metro Schools CU, MN, serving 2,500 members with assets of $28 million; and WesTex Community CU, TX, serving 11,003 members with assets of $80 million.
GrooveCar works with credit union to ensure a seamless transition during the launch phase of the program. Once deployed, the partners are provided with continuous support services, market consulting, marketing collateral support to optimize communications with member and all other services to assist the CU reach success.