GrooveCar Partners with Insight and Michoud Credit Unions

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New partnerships announced for online credit union automotive buying resource

GrooveCar Direct (http://www.groovecarinc.com), the leading auto buying resource for the nation’s credit union industry, is expanding through new partnerships with Insight Credit Union, Orlando, Fla., and Michoud Credit Union, New Orleans.

“The GrooveCar Direct program is the nation’s leading online credit union automotive product. Credit unions are empowered with the ability to grow their auto loan portfolio from within while serving members with the best data, research and value in the auto buying market,” stated Robert O’Hara, GrooveCar vice president of strategic alliances. “For further consideration, our program effectively communicates with the member, an area of interaction credit unions are seeking to fill as in-branch communications are on the decline.”

As the economy improves, credit unions can take advantage of growth opportunities found in auto lending by providing members with a resource to drive interest and business. Since, 2012 credit unions have increased their auto business nearly 30 percent, with a 16 percent increase over 2014. The GrooveCar program provides an advantage to credit unions in the market for capturing more auto loans from members. The auto buying resource provides members with all the resources and interactive functions expected when shopping for a vehicle online.

Insight Credit Union is a member-owned financial cooperative with assets of over $530 million serving 57,200 members since 1991. Located in Orlando, Insight is considered the 25th largest credit union in Florida. Michoud Credit Union is a member-owned financial cooperative with assets over $4 million, serving 1,106 members. The credit union opened in 1980 with the main office located in New Orleans.

GrooveCar’s auto buying resource is a welcomed addition for auto research and buying services members can take advantage of. The comprehensive auto buying resource serves up everything consumers expect to have access to – research and comparison tools, build out features, car values and history reports – all branded to the credit union client and cross promoting the other related products offered.

The process to go “live” with GrooveCar is very seamless with online and phone support as well as a comprehensive training session that takes place under an hour. GrooveCar provides all the necessary tools for a credit union to succeed in marketing the product including customized marketing materials, regular marketing consultations and branding resources. Clients comment frequently on how a simple a process it is to partner with GrooveCar. Favorable feedback is repeatedly centered on the live technical support and minimal resources required to get started.

About GrooveCar
Founded in 1999, the privately held GrooveCar provides a comprehensive array of automobile and automotive services and products – shopping, buying, leasing, financing, ownership – for credit unions and credit union members, as well as access to motorcycles, recreational vehicles and boats. Additional information may be found at http://www.groovecarinc.com.

About GrooveCar Direct
GrooveCar Direct was created expressly to enable credit unions to develop a revenue generating stream and enhance their ability to secure auto loans. The custom program assists credit unions in realizing quality auto loans through direct and indirect avenues while strengthening member relationships and boosting financial stability. Additional information may be found at http://www.groovecarinc.com/GrooveCar-Direct

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Karen Johnson
GrooveCar
+1 (631) 454-7500 Ext: 135
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