Press

“CUNA Mutual Group is helping credit unions find new ways to support their members’ financial needs, and SpringboardAuto.com represents one of those new ways,” said John Wallace, senior vice president of lending products, CUNA Mutual Group. “Auto loans are a core credit union member service, and we believe SpringboardAuto.com provides a valuable option for members who otherwise might not be able to get vehicle financing through their credit union.”

SpringboardAuto.com uses a sophisticated automated credit engine for real-time responses. The tool offers flexible approval terms that enable approved members to configure their loan preferences, empowering them to see the impact of their decisions throughout the process. After receiving a referral from their credit union, members complete the application online without conventional obstacles that borrowers with below-prime credit sometimes experience. The process minimizes requests for redundant customer information, creating a more streamlined experience. 

“We are excited about the strategic investment and support from CUNA Mutual Group, and we look forward to helping credit unions serve more members with auto lending alternatives,” said Jim Landy, CEO, SpringboardAuto.com. “We believe we have built an attractive path for credit unions to deliver a rewarding member experience with the compliance rigor our partners require.”

CUNA Mutual Group’s minority ownership interest will help SpringboardAuto.com build scale and invest in its technology platform and third-party data sources. 

SpringboardAuto.com will begin offering auto lending services through credit union referrals in selected states later this year, expanding to additional states thereafter.