CUNA Mutual partners with CarSaver

TruStage and car buying platform CarSaver have partnered to launch “the industry’s first online marketplace and fintech e-commerce platform for credit unions.” The platform enables members to buy, finance and insure new and used cars online. In addition to the newly formed partnership, CMFG Ventures, the venture capital arm of CUNA Mutual, invested substantial funds to fuel CarSaver’s growth.

Launched in 2016, CarSaver offers an online experience for buying, financing, leasing, insuring, repairing, and selling cars. It also has an enterprise offering for car companies, dealers and brands looking to sell cars online and Nissan, Walmart, and SHOP.COM are clients.

CarSaver’s platform identifies the credit union’s auto loan members who qualify to upgrade to a new car for a lower monthly payment and then links them to a personal portal where they can see their upgrade options. They can complete the entire transaction online and have the car delivered directly to their home or pick up at a local certified dealer.

CUNA Mutual and CarSaver will begin immediately accepting applications for credit unions and dealers to participate.

“The auto finance industry is going through a digital transformation, and it’s important for credit unions to lead in this space. 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. The CarSaver technology is revolutionary, and their leadership team has deep industry experience and a track record of success. We’re excited about this relationship.” – Bob Trunzo, president and CEO of CUNA Mutual.

“CUNA Mutual works with 95% of the credit unions in the U.S. and has been helping them serve their members for 80 years. As they have done in the past, CUNA Mutual is helping credit unions future-proof their business while saving their members time and money, by digitally transforming the entire experience of buying, selling, financing, insuring and upgrading cars, 100% online.” – Chad Collier, co-founder and CEO of CarSaver.