Press
GrooveCar Direct Expands Its National Footprint; 342,000 New Credit Union Members Added
HAUPPAUGE, NY (August 14, 2013) — GrooveCar, Inc. (www.groovecarinc.com) has signed four new credit unions nationwide to its GrooveCar Direct program. The financial intermediary has seen a growth spurt due to the strong demand for its premier auto buying service that has been customized for the credit union industry.
The new signees include Kinecta FCU in Manhattan Beach, CA, Washington, DC-based HEW Federal Credit Union, New Horizons Credit Union of Mobile, AL and United Services Credit Union in Des Moines, IA.
“We are committed to enhancing and expanding our automotive buying and resource center, which has been streamlined to fit the needs and goals of credit unions, regardless of asset size,” expressed Robert O’Hara, GrooveCar’s vice president-strategic alliances. “It is exciting to have so many credit unions contact us to learn how our program drives auto buying members back to the credit union while generating non-interest income. We know what credit unions want and we tailored our program to match that demand.”
GrooveCar CEO David Jacobson also weighed in on the recent expansion: “These partnerships are important and exciting not just because they drive growth at GrooveCar, but also because they illustrate the importance of auto buying products to credit unions’ portfolio of member services and are a key component to increasing auto loan volume.”
Kinecta FCU (www.kinecta.org) is one of the nation’s largest credit unions with over $3.3 billion in assets serving better than 251,000 members in the Anaheim, Lancaster, Rialto, Santa Ana and Greater Los Angeles area of Southern California
New Horizons Credit Union (www.newhcu.org) with assets exceeding $203 million serves more than 34,000 members across Mobile and Baldwin counties in Alabama.
The $162 million asset HEW Federal Credit Union (www.hewfcu.com) caters to 18,000 members in D.C., Virginia, Maryland and Pennsylvania.
Chartered in 1954, United Services Credit Union (www.us-cu.org) with $39 million in assets services 39,000 members in North Carolina and Virginia.
About GrooveCar
Founded in 1999, the privately held GrooveCar provides a comprehensive array of automobile and automotive services and products – shopping, buying, leasing, financing, ownership – for credit unions and credit union members, as well as access to motorcycles, recreational vehicles and boats. Additional information may be found at www.groovecarinc.com.
About GrooveCar Direct
GrooveCar Direct was created expressly to enable credit unions to develop a revenue generating stream and enhance their ability to secure auto loans. The custom program assists credit unions in realizing quality auto loans through direct and indirect avenues whilst strengthening member relationships and boosting financial stability. Additional information may be found at http://www.groovecarinc.com/GrooveCar-Direct