Hauppauge, New York (PRWEB) March 31, 2016
GrooveCar, the nation’s leading auto buying resource for credit unions and their members, has added 40 new partners expanding into 19 states.
“Auto buying is hitting historic heights and the competition for members’ auto loan dollars is stiff. Our platform is known for delivering a car buying experience to members with all the resources necessary for credit unions to compete at the highest level. The website is loaded with features to capture a member’s interest and generate auto loan leads,” explains Rob O’Hara, Vice President of Strategic Alliances, GrooveCar.
In 2015, U.S. light-vehicle sales hit a record 17.5 million units, generating $987 billion in outstanding auto loan balances. Credit unions earned a 17.6 percent market share of the overall automotive loan market as reported by Experian Automotive. The credit union industry realizes how competitive they can be when they apply the right tools to meet a member’s car buying needs.
“Auto loans are the credit unions’ bread and butter. For many credit unions they recognize a plug and play program is the only way to go. Why try to piece together a product with local dealers, manage it and at the end of the day still not be able to fully provide the resources necessary to run a program of this caliber?” explains O’Hara. GrooveCar works with credit unions to provide a strong local inventory while also utilizing existing relationships a credit union may have with dealerships. Nationally, the program boasts over 4 million in inventory.
GrooveCar launched its new mobile responsive, auto buying website, earlier this year. Credit unions and their members are enjoying next generation design elements, ease of use and the newest enhancements to increase the car shopping experience online. “SUPRtec (Smart User Preference Resource Technology) is the horse power behind the site, making it unique to the online buying community. This next generation technology streamlines the user’s preferences, getting them to the car of their dreams,” states O’Hara.
The GrooveCar program comes with technical and marketing support to ensure all aspects of the program are easily deployed, usually within a week. Once the decision is made to join, implementation and onboarding includes a tutorial covering all aspects of the drop and drag format and then a marketing meeting to discuss goals and collateral support materials. On-going support, marketing consultations, co-branded materials and guidance are included with most of the packages.
New credit union partners include: American Broadcast Employees, NY; Aurora Policemen, IL; Bayou City, TX; Beacon Mutual, OH; Bloomington Postal Employees, IL; CAP COM, NY; Champaign County School Employees, IL; Cincinnati Employee, OH; Community Resource, NY; Credit Union of New Jersey, NJ; Danville Bell Credit Union, IL; Ecusta, NC; Encompass Niagara, NY; Fannin, TX; FASNY, NY; First Choice Community, TN; Health Employees, NY; HEB Federal, TX; Landmark, IL; Lubbock Teachers, TX; Members Trust of the Southwest, TX; Miami FCU, FL; Motor City Co-op, MI; Northeast Alliance, NY; Northeast Panhandle Teachers, TX; Patent & Trademark Office, VA; PEPCO, DC; Pittsburgh Central, IL; Planites, IL; Polish-American, MI; Postel Family, TX; Rochester Area State Employees, NY; Santa Rosa County, FL; School Systems, NY; Tee-Pak Credit Union, IL; Texhillco School Employees, TX; TLC Community Credit Union, MI; United Teletech Financial, NJ; Utica Gas & Electric, NY; and Western Districts Members CU, MI.
Founded in 1999, GrooveCar provides automotive loan growth solutions to credit unions nationwide while providing their members, as well as the general public, with the most informative and user friendly auto search engine. With its expansive dealership network surpassing five million vehicles, GrooveCar facilitates the entire car buying process, including shopping, researching, buying, leasing, and financing. Through the national auto leasing program CU Xpress Lease, credit unions can take advantage of leasing opportunities in the new vehicle market. CU Xpress is the leading credit union lease program in the nation. Additional information on GrooveCar or CU Xpress Lease may be found at http://www.groovecarinc.com.