GrooveCar Announces Partnership with CAP COM Federal Credit Union

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Albany-based credit union joins auto buying program

GrooveCar, the nation’s leading online auto buying program for credit unions, announces a partnership with CAP COM Federal Credit Union located in Albany, NY. Situated in the Capital Region of New York state, the credit union serves over 128,000 members with assets of more than $1 billion. “CAP COM is one of the largest credit unions in upstate New York serving a robust area with members spread throughout a diverse region. Our approach to serving members included a fully customized platform to meet their auto-buying needs,” explains Robert O’Hara, Vice President of Strategic Alliances, GrooveCar Inc., Hauppauge, NY.

The GrooveCar resource provides credit unions with the ability to serve members with pertinent information needed to complete the car buying process. Industry data has found when it comes to member engagement, 97% of car buying begins online over an average of 4 months. The goal of the program is to capture more loans by connecting with members during the research phase of the car purchasing cycle. The program insures credit unions’ messaging will be present during every step of the car buying journey.

Providing members with a resource specific to their needs with a large selection of regional inventory and leveraging dealership relationships, was a priority for CAP COM. “Over the years, we’ve established great partnerships with local dealers. GrooveCar allows us to leverage those relationships for our members in a way that is more convenient. They can shop multiple dealers from the comfort of home to find the right vehicle and still take advantage of preferred pricing as well as the guidance of CAP COM’s car buying experts,” said Cliff Carignan, CAP COM Director of Lending.

GrooveCar worked with CAP COM to customize all aspects of the program. This included combining the members’ desire for a new or pre-owned vehicle and matching it with available local inventory, special credit union pricing and offers from the credit union’s preferred dealer network. GrooveCar’s platform combines the power of digital and traditional marketing programs along with sales strategies to optimize the member experience while capturing more loans for their credit union partners.

With CAP COM, the customization of the program went a few steps further to incorporate the synergies present between their preferred dealer network and the credit union. “We took CAP COM’s existing preferred dealer network and added these dealers inventory to the site while removing all inventory we previously had within 250 miles of CAP COM’s central location. CAP COM wants to build stronger relationships with their preferred dealers while eliminating dealers from their auto buying site that do not push business back to CAP COM. We want credit unions to recognize you don’t have to settle for a one size fits all car buying program, GrooveCar can customize the program to match the credit union’s needs and not the other way around. We truly see our role as a partner to their success,” stated O’Hara.

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 and pre-owned 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.
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Karen Johnson
GrooveCar
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