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 enabled Fusion to increase efficiencies, collaboration, and competitiveness of the leasing program.