GrooveCar recently highlighted credit unions from 14 different states joined its online vehicle buying program during the fourth quarter.
GrooveCar, which provides credit union partners with continuous support services, market consulting, marketing collateral support to optimize communications with members and more, indicated that 17 credit unions joined during Q4, raising the 2017 total to 84.
The company added that it has forged more than 250 credit union partnerships since 2015.
“This has been an exceptional year for helping credit unions reach new levels in auto loan growth,” said Robert O’Hara, vice president of strategic alliances at GrooveCar.
“It’s always gratifying to deliver a service that meets the members’ desire to shop for all their vehicle needs online,” O’Hara continued.
“Credit unions are steeped in member resources, an auto resource is another way to serve the member with what they are looking for,” he went on say.
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 can help credit unions close the sales and shopping loop between the member, the credit union and the dealership. When the credit union is in the initial sales space with the member, GrooveCar believes there is a distinct advantage for the credit union to maintain their relevance from the beginning.
Joining the program during Q4 were:
Abilene Teachers Federal Credit Union, serving 46,470 members with assets of $428 million
WesTex Community Credit Union, serving 11,003 members with assets of $80 million
Antioch Community Federal Credit Union, serving 1,572 members with assets of $27 million
Arsenal Credit Union, serving 25,548 members with assets of $227.2 million
Central Oklahoma Federal Credit Union, serving 2,839 members with assets of $29 million
Family Focus, serving 2,820 members with assets of $32 million
Georgia Power Valdosta Federal Credit Union, serving 3,579 members with assets of $24 million
Habersham Federal Credit Union, serving 3,724 members with assets of $20 million
Memorial Health Credit Union, serving 4,151 members with assets of $19 million
Hope Credit Union, serving 34,079 members with assets of $201 million
Lake Trust Credit Union, serving 180,000 members with assets of $1.8 billion
Merrimack Valley Federal Credit Union, serving 47,883 members with assets of $598 million
N.E.W. Credit Union, serving 10,120 members with assets of $87 million
Tobacco Valley Teachers Federal Credit Union, serving 3,873 members with assets of $47 million
University Credit Union, serving 17,212 members with assets of $206 million
Wauna Federal Credit Union, serving 24,222 members with assets of $232 million
West Metro Schools Credit Union, serving 2,500 members with assets of $28 million
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.
“Our responsive technology delivers all the features the member enjoys when starting the process, just curious or full-on ready to buy,” O’Hara said. “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."
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