CU Xpress Lease Expands into Florida
FARMINGDALE, NY – CU Xpress Lease, a Fusion Auto Finance lease product, announces their partnership with Tropical Financial Credit Union, which boasts over $873 million in assets while serving over 66,000 members with seven branches in southern Florida.
Tropical Financial Credit Union plans to launch their lease program with CU Xpress Lease to its members by the end of the first quarter of 2021.
Richard Shaw, Chief Operations Officer for Tropical Financial Credit Union, stated, “Southern Florida has traditionally been one of the largest lease markets in the United States. As we work our way through the COVID-19 pandemic, we understand that potential car buyers will be even more laser-focused on finding the best monthly payment. Our partnership with the CU Xpress Lease program allows us to offer competitive lease payments, which will result in significant volume. Most importantly, our partnership allows us to focus on what we do best, which is managing credit risk without taking on the residual value risk or exposing ourselves to any excess wear and tear or over-mileage associated with leases.”
Added Robert O’Hara, Director of Credit Union Relations for GrooveCar, “We are excited to collaborate with an innovative credit union like Tropical Financial Credit Union by bringing our lease program to their members and consumers in their market. Car shoppers are payment-driven and leasing provides a true medium for credit unions to capture that volume while strengthening relationships with dealers in their market.”
About CU Xpress Lease
CU Xpress Lease, a Fusion Auto Finance lease product, is the nation’s premier automotive leasing program for credit unions that generates a solid return on investment, delivers high member satisfaction, and guarantees 100% residual value at lease maturity. Total volume of the program exceeds $5.2 billion and 145,000 vehicles. Additional information can be found at here.