GrooveCar Direct is pleased to announce the release of a new case study demonstrating best practices in merging its direct and indirect marketing strategies, with incremental loan growth benefits. This study, which was done in cooperation with CAP COM Federal Credit Union (CAP COM FCU), is now available to credit unions nationwide by visiting: go.groovecarinc.com/
The GrooveCar Direct program adds significant value to any credit union’s auto loan strategy by creating a world for the credit union member to research for a vehicle, see it at a local dealership, and to apply for credit union pre-approval and financing. “It is our hope that this case study can serve as a valuable resource on how our credit union partners can integrate the GrooveCar Direct program into their dealership relationships, allowing the credit union to engage the member at every step of the car buying process,” states Robert O’Hara, Vice President of Strategic Alliances, GrooveCar Direct.
This study demonstrates the advantages of the services that we provide to our credit union partners. In this instance, CAP COM FCU was able to utilize our partnership to grow its auto loan portfolio by 31%. CAP COM FCU is now able to leverage additional best practices, including:
- Member engagement of all generations
- Leveraging partnerships with local dealerships
- Promotion its other loans, products, and services
- Relevance during the car-buying process
- Maintaining its branding
- Offering preferred pricing to its members
By partnering with GrooveCar Direct, CAP COM FCU has been able to save time and money by not having to build its own site; thereby avoiding extensive costs for IT and marketing support. Instead, they enjoy all the advantages of the comprehensive and robust GrooveCar Direct program.
CAP COM FCU members also benefit as they are provided with top-notch service levels from dealerships within the network while increasing member product penetration and retention.
GrooveCar Direct would like to thank CAP COM FCU for its cooperation in this joint study and are extremely pleased with the positive results that they have enjoyed.