CU Direct Launches Next Generation AutoSMART Program for Credit Unions and their Members
Ontario, CA | October 23, 2014
CU Direct (www.cudirect.com), the credit union industry’s leading provider of lending, automotive and strategic solutions, has launched the next generation of its online auto shopping program, CUDL AutoSMART. The industry’s premier auto shopping site, with more than 1.5 million vehicles in dealer inventory, has a host of new features to dramatically transform members’ experience and engagement with credit unions.
The new CUDL AutoSMART enables credit unions to create top-of-mind awareness with their members by providing dynamic features, such as white-label branding, and customizable homepage images and content. The vehicle shopping platform’s new design also includes robust ad space and custom content capabilities, providing additional opportunities for credit unions to market and promote products and services to members.
Members have the ability to shop online and across multiple devices, including Smart Phones and tablets, through the new, mobile optimized/responsive design experience. The site provides members a streamlined user experience with a “walk the lot” feel, the ability to apply for a credit union loan, a dynamic research hub and a soft touch log-in that allows members to save search results and connect with the credit unions.
Currently more than 1,000 credit unions are using AutoSMART to drive member engagement and loyalty, and to help grow auto loans.
Credit unions face an increasingly more competitive landscape for the acquisition of auto loans. While credit unions captured 23% of all auto loan originations in Q1’14 and continue to increase their market share, it still rests at only 18.3% of the total portfolio, while leasing and other finance segments threaten to capture market share. Credit unions need a vehicle research program that helps retain member financing.
“Credit unions need a consolidated, best of breed auto shopping site which promotes their brand, enhances the value of membership, harnesses that power to aggregate influence on behalf of the consumer, and builds and protects auto loan volume,” notes Marci Francisco, VP, Automotive Marketing & Business Development at CU Direct. “AutoSMART successfully fills this need for credit unions looking to advance their auto lending programs.”
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