TrueCar, Inc. Powers Car Buying Centers for Top Regional Credit Unions

SANTA MONICA, Calif., Oct. 11, 2011 /PRNewswire/ -- TrueCar, Inc., the only transparent publisher of real-time new (TrueCar.com) and used (ClearBook.com) vehicle transaction data in the US market, has announced that it will power the online car buying programs for several prominent regional credit unions across the United States via its new "Member Showroom" platform designed specifically to meet the needs of these organizations.

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The credit unions launching TrueCar-powered car buying services are: Michigan First (Lathrup Village, MI), Baxter Credit Union (Vernon Hills, IL), Congressional Federal (Oakton, Virginia), FAIRWINDS Credit Union (Orlando, Florida), Pacific Service Credit Union (Walnut Creek, California), Aspire Federal Credit Union (Clark, NJ), Arlington Community Federal (Arlington, VA), Northwest Federal Credit Union (Herndon, VA), Pennsylvania State Employees Credit Union (Harrisburg, PA), Commonwealth One Federal Credit Union (Alexandria, VA).  Together, the ten credit unions represent over a million members across seven states.

Using TrueCar's revolutionary car buying platform, credit union members can locate a great local price for thousands of vehicle makes and models using the customized Member Showroom -- specifically designed to help credit union customers discover what others paid for their car -- and then receive an even better price.  

To date, TrueCar has facilitated the sale of over 350,000 vehicles -- saving consumers over $1 billion off of the Manufacturers Suggested Retail Price (MSRP).

"We are very pleased to be able to help provide such an important service to the customers and employees of these fine organizations," said Scott Painter, Founder and CEO of TrueCar, Inc.  "America's credit unions help provide their hard working members with first-class financial and money-saving services at little or no cost -- and the free Member Showroom program certainly fits into that category."

The credit union partnership announcement comes on the heels of TrueCar's purchase of ALG from DealerTrack Holdings, Inc., the industry-leading source for automotive residual values and the recent securing of over $200 million in debt and equity financing to fund the development of new revenue streams, growth and strategic acquisitions.

About TrueCar, Inc.

TrueCar, Inc. has changed how cars are sold by providing a significantly better customer experience -- helping qualified dealer partners gain incremental market share and reduce costs. As a transparent, visual publisher of new car transaction data, TrueCar price reports help both dealers and consumers to agree on the parameters of a fair deal by providing an accurate, comprehensive and simple understanding of what others actually paid for the identically equipped new car over the last 30 days both locally and nationally.

TrueCar, Inc. works with a national network of over 5,000 Certified Dealers that provide up-front, no-haggle, competitive pricing to assist some of the nation's largest and most well respected membership and service organizations to meet the auto buying needs of their members and customers. These partnerships include American Express, AAA, USAA and more than 60 others. Collectively these audiences represent over 1M in-market customers each month.

TrueCar, Inc. is headquartered in Santa Monica, CA and has offices in San Francisco and Austin. The company was founded in 2005 and has been profitable since 2009. With 131% annual growth since 2006, TrueCar has driven over 350,000 sales and is developing a suite of transaction oriented products and services centered on transparency and radical clarity as a result of comprehensively analyzing market data and information. You can follow TrueCar on Twitter and become a fan of TrueCar on Facebook.

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Jesse Toprak

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SOURCE TrueCar, Inc.