CarSaver, the leading automotive e-commerce marketplace, and fintech platform announced today that Teachers Federal Credit Union (Teachers) – one of the largest credit unions in the United States with $8.8 billion in assets and more than 420,000 members – has joined its industry-first Marketplace and Automated Upgrade Platform. CarSaver’s e-commerce platform was built to help auto lenders increase member satisfaction, loan retention, and dealer satisfaction, while enabling members to buy, finance, and insure new and used cars entirely online.
By implementing CarSaver’s Marketplace and Automated Upgrades, Teachers will help make it easier for members to purchase a new vehicle and avoid issues like costly repairs in the later years of a vehicle’s life. CarSaver’s proprietary automated upgrade platform identifies members with an auto loan who qualify to upgrade to a new car for a lower monthly payment, then links them to a personal portal where they can see their upgrade options. With a click of a button, members can complete the entire transaction online and have the car delivered directly to their home or for pick up at a local certified dealer. Teachers’ members will save time and money on their purchases, and every new and used vehicle in the marketplace comes with a lifetime warranty covering major repairs for unlimited miles at no cost to the member, not even a deductible.
“We are thrilled to have Teachers Federal Credit Union join our network to offer their members unrivaled benefits for their car purchasing needs. Teachers are one of the largest credit unions in the country and are dedicated to helping their members save money and be on the best financial path. Now, with CarSaver, it’s easier than ever for qualified Teacher members to upgrade their car to a new one. Not only does our partnership further develop Teachers’ lending technology, but it will also lead to the ability for our dealer partners to sell more cars and take more trade-ins,” said Chad Collier, co-founder, and CEO of CarSaver.
“Product innovation and partnerships that bring elevated service to our members are critical to Teachers’ guiding principle of being the best place to bank. We are excited to offer CarSaver’s industry-first Marketplace and Automated Upgrade Platform to our members, helping to make their car buying experience more convenient,” said Francis Collins, SVP, Credit, Teachers Federal Credit Union. “CarSaver’s proprietary technology combined with Teachers’ low rates gives members a best-in-class experience for upgrading their vehicle for less than their current monthly payment.”
