GrooveCar Partners with American Broadcast Employees FCU

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ABE FCU will utilize the auto buying and indirect lending program to increase auto loan portfolios

GrooveCar, the leading auto buying resource for the nation’s credit union industry, announces a partnership with American Broadcast Employees FCU, New York ( “The partnership will provide ABE FCU with all the auto-buying tools to service New York members as they begin their quest for a new or pre-owned vehicle. Members in New York will have access to the largest dealership network in the region, personalized customer service and the fastest online means to acquire the vehicle of their dreams,” states Frank Rinaudo, SR Vice President, GrooveCar.

The GrooveCar program provides credit unions with the ability to grow their auto loan portfolio from within while providing members with the best data, research and value in the auto buying market. The auto buying resource provides an interactive platform with advanced technology to assist members often before the spark of desire for a vehicle is ignited. Additionally, the program provides the relevance credit unions so desperately need in order to communicate effectively to their membership while increasing loan growth and product-per-member ratios.

While the GrooveCar program meets the car buying needs of credit union members, it also expands on the synergies present between the automotive dealer and the credit union. The program enlists 90 percent of the dealerships in the region who promote financing through GrooveCar credit union partners. The service oriented program provides credit unions with a member service representative who assists members during car buying. “Credit union members on our program, in New York, are provided concierge service during the purchase process which can cover anything from their choice of seating fabrics, to securing a loan. It’s a very thorough service,” adds Rinaudo.

Credit unions are in a wonderful position to service members looking to purchase a new or pre-owned vehicle. Car ownership continued on an upward trajectory in 2015, signaling a robust return of the economy with new car sales up 68 percent from the Great Recession of 2009. Credit union membership is growing nationally and with it comes the ability to provide additional products and services. “Our New York members will be able to access the largest regional auto inventory utilizing a new auto-buying platform to meet their needs. The new resource is mobile responsive so they can take their car research on-the-go,” adds Efrain Mercado, VP of Business Development, ABE FCU.

ABE FCU is headquartered on Long Island in Rockville Centre, New York and serves members throughout the U.S., at 9 branch locations. GrooveCar will be providing its automotive Indirect program to members in the New York region.

About GrooveCar:
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

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!blank/dzl42

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Karen Johnson
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