CU LIFT Bridges the Gap Between Dealership and CU Auto Financing

Like all consumers today, credit union members enjoy the convenience of digital car shopping. However, when it comes to using a credit union loan to pay for that dream vehicle, the road to new car happiness can get a little rocky. That’s about to change.

As part of its FastPass auto financing enablement platform, CU LIFT Fund LLC, the CUSO committed to helping credit unions grow their auto loan portfolios, offers credit unions a white-label solution that lets credit union members shop local vehicle inventories using an advanced, credit union-branded shopping experience. FastPass problem-solving features include:

• “Capacity to Purchase” built into the platform. LIFT’s proprietary algorithms estimate the “drive-off price” for every vehicle, ensuring that members view vehicles they can actually afford with their loan.
• Anonymous communication with the dealer. Unlike other online shopping tools that sell your members’ data to multiple dealers, FastPass lets your members communicate directly and anonymously with the dealers of their choice. This means your members aren’t bombarded with calls, texts and emails from who knows how many dealers all vying for the same deal.
• Member control. The FastPass tools combine to create an auto-buying experience that keeps members in control every step of the way.

“Credit union members like car-shopping online, and they like getting loans from their credit unions. Unfortunately, there’s a disconnect between the two,” LIFT President Paul Rindone said. “With our FastPass program, we’ve created a technologically advanced online shopping solution that keeps the focus on credit union financing.”

The FastPass web app works similar to popular dating apps, allowing members to swipe right for the vehicles they like and swipe left for the ones they don’t. The FastPass experience is available from a growing number of LIFT credit unions and auto dealers nationwide.