HAUPPAUGE, N.Y. -

GrooveCar Direct, an online auto buying resource for credit unions, recently reached partnership with two more institutions.

The two credit unions now a part of the network are as follows:

— Greater Alliance Federal Credit Union of Paramus, N.J., which has a membership of 18,525 with assets exceeding $163 million.

— Dutch Point Credit Union of Wethersfield, Conn., which serves a membership of 21,178 with assets exceeding $239 million.

Greater Alliance vice president-lending Johana Gomera said, “Greater Alliance has experienced rapid membership growth and by adding the GrooveCar program, we are able to deliver more value to our members while serving our mission to deliver high quality financial services and an efficient delivery system.

“GrooveCar’s inventory coupled with our branding and auto product offerings serve our members' best interests while growing our loan portfolio from within,” Gomera added.

GrooveCar vice president of strategic alliances Robert O’Hara explained 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 can assist credit unions in realizing quality auto loans through direct and indirect avenues while strengthening member relationships and boosting financial stability.

“Our product is unique in that it focuses upon growth from within the credit union’s membership,” O’Hara said. “The credit union is able to serve the best interest of its members, while accomplishing a number of goals, notably capturing incremental loan volume, improving their products-per-member ratio, strengthening their ROI while earning additional non-interest income and much more.”