Frost Financial Pact Creates CU Car Shopping Showroom
Frost Financial Services has partnered with TrueCar Inc. to create an online vehicle buying service for credit union members.
The Member Showroom is powered by TrueCar in Santa Monica, Calif., and aims to offer a better buying experience for members while helping to retain the financing relationship between the credit union and their members, said Phil Markwell, a partner at Frost, an insurance service provider and GAP program administrator based in Cincinnati.
The auto buying service is incorporated into Frost’s VisualGAP Web application so that credit union staff can help members search for new and pre-owned vehicles, secure savings from participating dealers and lock in credit union financing terms before going to the dealership, Markell said.
At TrueCar.com, members can compare pricing information on new and used vehicles, view prices that other buyers have paid for the same vehicle, and receive pricing information from nearly 6,200 pre-screened TrueCar certified dealers that participate in the program, according to TrueCar and Frost.
Frost said it serves more than 1,050 credit unions nationwide. Automotive pricing information and analysis company TrueCar said its dealer partners have sold more than 800,000 vehicles nationwide.