Alliant Credit Union, which partnered with an online automotive marketplace TrueCar in 2015, said as of December 2018 that it has originated 3,000 auto loans worth $80 million through the platform and that Alliant members have saved $4 million off manufacturers’ suggested retail prices.
TrueCar allows Alliant members to access certified-dealer inventory, check vehicle prices, apply discounts, and secure loans.
The $80 million originated through TrueCar over three years represents just a portion of the credit union’s growing auto lending business. Overall, the Chicago-based credit union originated $900 million on auto loans this year, a 20% year-over-year increase.
Alliant continues to seek out third-party partnerships to enhance the credit union’s auto loan program, Brian Sharapata, Alliant Credit Union manager of consumer loans and credit product strategy, told Auto Finance News.