Enterprise Car Sales helped rev up auto lending among its credit union partners, generating roughly $500 million in auto loans during 2015.
The loans were made to nearly 28,000 credit union members in 2015. Altogether, Enterprise now boasts more than 1,000 partnerships with credit unions across the country and has generated nearly $10 billion in loan volume in the past three decades, the company said in a news release Wednesday.
The St. Louis, Mo.-based company said that its partnerships with credit unions has helped it grow its own network, opening three new locations in in Burnsville, Minn., East Syracuse, N.Y. and Cranberry Township, Penn., during 2015. Enterprise relocated a further six locations to enhanced facilities.
Enterprise also noted that credit unions have made gains in the auto financing space, with a 14% increase from 2014 in used-vehicle auto loans from credit unions.
"We gain increased exposure to new customers through their referrals, and in return, we refer their members back to them for financing," Enterprise Car Sales corporate director of business development Beth Wheeler said in the release. "With more consumers turning to credit unions for their auto loans, we expect these partnerships to continue to flourish in the coming year."
Enterprise Car Sales is a division of car rental brand Enterprise Rent-A-Car.
