A new partnership between CarSaver and CUNA Mutual Group allows credit unions to promote auto loans to members by giving borrowers notice of preapproval and a digital means to shop and buy the actual vehicle they'll be financing.
"The enthusiasm has been tremendous," Paul Rindone, CUNA Mutual vice president and product executive, told Automotive News on Friday, a day after the deal was announced.
CUNA Mutual Group is an insurer and financial services provider whose relationships include 95 percent of the nation's credit unions. CarSaver is a first-party and white label online auto retail platform provider that won a 2021 Automotive News PACE Award for its role in the Nissan [email protected] service.
CUNA Mutual Group also said Thursday that its venture capital arm CMFG Ventures "invested substantial funds to fuel CarSaver's growth."
Rindone said credit unions have two ways to direct their members to a CarSaver digital retail platform.
Through CUNA Mutual's CuneXus technology, a credit union can notify consumers of preapproval for a vehicle loan and provide a link to start shopping on the CarSaver marketplace.