CUNA Mutual Group and CarSaver, an automotive e-commerce marketplace and fintech platform, have announced a partnership to launch the industry’s first online marketplace and fintech e-commerce platform for credit unions.
The platform will enable credit union members to buy, finance and insure new and used cars entirely online. Members will save time and money on their purchase and every vehicle comes with a lifetime warranty, covering major repairs for unlimited miles, at no cost to the customer, not even a deductible, according to CUNA Mutual Group.
Further, CarSaver’s proprietary automated upgrade platform identifies the credit union’s auto loan members who qualify to upgrade to a new car for a lower monthly payment then links them to a personal portal where they can see their upgrade options.
In addition to the newly formed partnership, CMFG Ventures, the venture capital arm of CUNA Mutual Group, has invested substantial funds to fuel CarSaver’s growth.
“The auto finance industry is going through a digital transformation, and it’s important for credit unions to lead in this space,” said Bob Trunzo, president/CEO of CUNA Mutual Group. “CUNA Mutual’s commitment to driving digital innovation that enables seamless customer experiences has never been stronger. We believe that CarSaver’s technology can help give more members the opportunity to find the car and loan that will work best for their situation.”