Fusion Auto Finance develops turn-key auto leasing programs with credit unions that generate a high return on investment as well as high customer satisfaction. Core competencies in residual value analysis and lease end account management help mitigate the two most challenging risks associated with automotive leasing. Remarketing is the foundation for Fusion and handling the customer interaction as well as the vehicle at lease maturity. Fusion has developed a true full-circle business with every detail considered, from origination to servicing to resale and disposition. 

Fusion focuses its business model on providing competitive programs that are financially sound for the company, the credit union partner, and the credit union member. Along with its marketing partner, GrooveCar, Fusion offers credit unions the CU Xpress Lease, the nation’s number one credit union auto leasing program. Members enjoy the benefits of lower monthly payments, gap waiver coverage, flexible lease terms, and a fair wear-and-tear policy. Credit unions devote their efforts to credit risk and servicing members while Fusion manages all residual value risk.

Our Story

1998

EndTrust is Launched

EndTrust is Launched

Jim Calvert launches EndTrust to provide remarketing services to banks and independent leasing companies. Remarketing of lease portfolios is an emerging process and Jim had been an integral manager in developing the world class methods at Mercedes-Benz Financial Services.  

2000

EndTrust Adds Huntington Bank

EndTrust adds Huntington Bank as a client to its managed lease portfolios – over the next five years EndTrust mitigates residual value exposure on over 50,000 lease vehicles resulting in more than $4 million in risk savings to the bank.

2005

Fusion Disrupts the Credit Union Industry

Fusion Disrupts the Credit Union Industry

Fusion Auto Finance, LLC disrupts the credit union industry, formed with a goal to provide dedicated residual value management to credit unions. For the first time credit unions can offer auto leasing to their members through franchised new car dealerships with the confidence that Fusion will guarantee the full residual value on all returned lease vehicle maturities.

2006

Teachers Federal Credit Union Joins CU Xpress Lease Program

Teachers Federal Credit Union Joins CU Xpress Lease Program

Fusion partners with GrooveCar to launch the CU Xpress Lease program for Long Island, NY credit unions. This indirect lease model allows credit unions to offer an auto lease product to their members at point of sale in dealerships with full control of credit approval and rate structures. The first credit union to join the program is Teachers Federal Credit Union (TFCU), a progressive $7 billion credit union based in Hauppauge, NY. TFCU has remained the longest tenured participant in the CU Xpress Lease program.

2009

CU Xpress Lease Program Reaches 10,000 Leased Vehicles

Despite the auto industry being in the midst of a considerable downturn, the CU Xpress Lease program continues to expand its impact – Fusion’s lease program reaches 10,000 leased vehicles comprised of 16 different brands and totaling more than $300 million in new lending business for partnering credit unions.

2010

Fusion Opens First Lease Return & Resale Center

Fusion Opens First Lease Return & Resale Center

Fusion opens the first Lease Return and Resale Center (LRRC) and Novak Motors in Hauppauge, NY – this 30,000 square foot indoor facility is dedicated to credit union members who have leased vehicles through the CU Xpress Lease program. Customers have their vehicle inspected and returned here at the end of their lease term or purchase it with credit union financing. Credit union member sales events are also conducted at the LRRC to provide late model, low mileage, clean Carfax vehicles to consumers at below market prices.

2012

CU Xpress Lease Program Reaches 20,000 Leased Vehicles

CU Xpress Lease Program Reaches 20,000 Leased Vehicles

The CU Xpress Lease program reaches 20,000 new leased vehicles and more than 25 vehicle brands in the Fusion lease portfolio. Novak Motors also opens a second retail dealership in Bedford, Texas.

2014

CU Xpress Lease Program Reaches 45,000 Leased Vehicles

The CU Xpress Lease program reaches 45,000 leased vehicles and $1.35 billion in total volume. Fusion’s “No Surprises” Excess Wear & Tear policy provides lease customers peace of mind that the condition of their vehicle returned at lease-end will be inspected in a fair manner.

2015

Fusion Opens Lease Return & Resale Center in NJ

Fusion Opens Lease Return & Resale Center in NJ

A new Lease Return and Resale Center/Novak Motors location opens in Lebanon, New Jersey to accommodate the tremendous growth in the northern and central New Jersey markets. The largest credit union in New Jersey, Affinity Federal Credit Union, joins the CU Xpress Lease program and experiences considerable growth to its new car lending business. The growth of the lease program reaches 60,000 leased vehicles and more than $1.80 billion in new lending.

2016

Fusion Opens Indoor Lease Return & Resale Center in NY

Fusion Opens Indoor Lease Return & Resale Center in NY

Fusion and Novak Motors open a new 120,000 square foot indoor LRRC and retail center in Farmingdale, NY to replace the outgrown Hauppauge location. The CU Xpress Lease program expands to California. Fusion and Novak Motors reach 100 employees combined in three business locations. In its tenth year, the CU Xpress Lease program reaches more than 85,000 leased vehicles and over $3.1 billion in new vehicle lending.

2017

Fusion Acquires GrooveCar

Fusion Acquires GrooveCar

Fusion acquires its marketing partner, GrooveCar. Prior to the acquisition, CU Xpress Lease was a joint effort between the two companies. GrooveCar provided the indirect lending platform, marketed the program to dealers, acted as a liaison on behalf of the credit union, and managed the dealer relationships. Fusion is the titled owner of each leased vehicle, bears the value risk on all vehicles at lease maturity, and pays full residual value to the credit union at lease maturity. The acquisition has enables Fusion to increase efficiencies, collaboration, and competitiveness of the leasing program.

2019

CU Xpress Lease Program Reaches 125,000 Leased Vehicles

CU Xpress Lease Program Reaches 125,000 Leased Vehicles

The CU Xpress Lease program reaches more than 125,000 leased vehicles and over $4.5 billion in new vehicle lending. Fusion and GrooveCar look forward to continued growth and expansion into new territories!

Our Team

Don Porter

Don Porter

President
Chris Meagher

Chris Meagher

Managing Director
Joe Coreno

Joe Coreno

National Director of Operations

Let’s talk about growing your portfolio today!