TEACHERS FEDERAL CREDIT UNION JOINS CARSAVER'S MARKETPLACE WITH AUTOMATED UPGRADES TO HELP MEMBERS BUY, FINANCE, AND UPGRADE CARS ONLINE

NASHVILLE, Tenn., Aug. 25, 2022 /PRNewswire/ -- 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 purchase, 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 is one of the largest credit unions in the country and is dedicated to helping their members save money and be on the best financial path. Now, with CarSaver, it's easier than ever for qualified Teachers members to upgrade their car to a new one. Not only does our partnership further develop Teachers' lending technology, it will 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."

The marketplace will include new and used cars from a variety of brands available at local certified dealer partners. Members eligible for the upgrade will receive a notification via email and instructions to visit their personalized portal to see their upgrade offers. Dealers can enroll or get more information at: https://www.carsavercommerce.com/teachersfcu.

CarSaver is the leading online automotive marketplace for new and used cars helping buyers and sellers save time and money by automating the entire process from first click to home delivery. CarSaver makes it easy for consumers to do everything 100% entirely online. Buy, finance, lease, sell and trade all the top brands of new and used vehicles in a simple and seamless online experience that is personalized to each customer.

CarSaver's marketplace is used by some of the most trusted brands in the world, including Walmart, Nissan, iHeartMedia and SHOP.com, to automate the entire online buying process, making it faster and easier for buyers and sellers to conduct contactless commerce completely online. CarSaver licenses its enterprise platform to car companies, EV distributors, banks and credit unions who white label CarSaver's e-commerce platform to power their online transactions.

CarSaver has established a nationwide network of certified dealers who provide hundreds of thousands of new and used cars from all the top brands available in one marketplace. In addition, certified dealers perform maintenance and warranty repairs for CarSaver's lifetime warranty that comes standard at no cost, not even a deductible on every car.

CarSaver was recently named a 2021 Automotive News PACE Award winner. The prestigious award honors automotive suppliers for superior innovation and technological advancement. CarSaver was recognized for launching the first end-to-end, 100% online car buying platform for new, used and certified pre-owned (CPO) vehicles, and its work with Nissan to power the Nissan@Home experience.

For more information visit CarSaverCommerce.com, follow CarSaver on Facebook, Twitter, Instagram, YouTube and LinkedIn.

Dealers visit CarSaverCommerce.com/teachersfcu

Teachers Federal Credit Union (Teachers) is one of the country's largest credit unions with $8.8 billion in assets and more than 420,000 members across all 50 states. Founded on Long Island in 1952, Teachers is a full-service, not-for-profit financial institution that provides members with 32 full-service branches throughout Long Island, Queens, and Manhattan, as well as access to services at more than 5,000 shared service centers located across the country. Over the years and through various partnerships, Teachers has been proud of its role as a key supporter of the communities it serves. Teachers offers a range of member-focused products with competitive rates and low fees that started as a smart solution for teachers - now smart for all.

For more information, visit www.teachersfcu.org, follow Teachers on Facebook, Twitter, Instagram, YouTube, LinkedIn and TikTok.

Press Contacts for CarSaver
Erin Haworth
High10 Media for CarSaver
[email protected]

Press Contact for Teachers
Sophia Schneidman
R\West for Teachers Federal Credit Union
[email protected]

SOURCE CarSaver