GrooveCar Direct, the nation’s leading online auto loan growth partner for credit unions announces 17 new partners have joined the program in Q2 2018. As members continue to perform daily tasks from the palm of their hand while on their phones, or in front of their computers, credit unions find the online buying program a perfect complement to meet members’ needs. Members now spend over 46 percent of their time researching online (1) with third-party sites most used by 78 percent of car shoppers (2). These statistics, along with the delivering of loan growth results to partners, fuels the program’s popularity. Credit unions are eager to find new ways to remain relevant with members during the vehicle buying process, the GrooveCar Direct program accomplishes this. The research and buying trends demonstrate that the need to be online, has never been stronger.
The GrooveCar Direct program delivers the top five activities on-line car shoppers are looking for, and more, when engaging with a site for vehicle shopping. According to online data analytics, shoppers are most interested in: researching prices, locating vehicles listed for sale, comparison shopping of different models, trade-in values and locating a dealer. The GrooveCar Direct program allows the credit union to guide members through these five tasks, while engaging with other features as well. In addition, the program boasts lead generation features such as the Kelley Blue Book® price advisor tool, allowing members to see what others are paying for a particular vehicle. Other means of lead generation include: saving their searches, applying for an auto loan online, finance calculator, Free Carfax reports, auto loan refinancing, access credit union promotions and preferred dealer network price specials while perusing over 4 million vehicles in updated inventory nationwide.
“We recognize that a one-size-fits-
Joining the program in Q2 2018 are: AAA Federal Credit Union, South Bend, IN, with assets of $64 million serving 6,905 members; Allegheny Health Services Employees Federal Credit Union, Pittsburgh, PA, with assets of $13.1 million serving 3,647 members; Bessemer System Federal Credit Union, Greenville, PA, with assets of $38.1 million serving 4,467 members; Central Communications Credit Union, Independence, MO, with assets of $50 million serving 5,998 members; Central Jersey Federal Credit Union, Woodbridge, NJ, with assets of $75 million serving 7,783 members; Chief Financial Federal Credit Union, Rochester Hills, MI, with assets of $154 million serving 26,478 members; Complex Community Federal Credit Union, Odessa, TX, with assets of $495 million serving 38,233 members; CS Credit Union, Catawba, NC, with assets of $31 million serving 2,855 members; Department of Public Safety Federal Credit Union, Oklahoma City, OK, with assets of 26.3 million serving 2,718 members; G.A.P. Federal Credit Union, Johnstown, PA, with assets of $46 million serving 5,163 members; Kingsport Press Credit Union; Kingsport, TN, with assets of $69 million serving 6,641 members; McIntosh Chemical Federal Credit Union, McIntosh, AL, with assets of $24 million serving 2,425 members; Michigan Columbus Federal Credit Union, Livonia, MI, with assets of $46 million serving 4,281 members; None Suffer Lack Federal Credit Union, Suitland, MD, with assets of $23 million serving 2,989 members; Tri-Valley Service Federal Credit Union, Pittsburgh, PA, with assets of $15.9 million serving 4,166 members; Upper Cumberland Federal Credit Union, Crossville, TN, with assets of $64 million serving 7,486 members; and West Texas Credit Union, Odessa, TX, with assets of $57.2 million serving 5,060 members.
References: 1 & 2 Autotrader statistics.