CU Xpress Lease announced it’s hosting a webinar on leasing entitled, “Why Lease? Why Now? It’s time for more credit unions to enter the auto lease market,” on Thursday.

The webinar is open to all credit unions who want to learn more about the CU Xpress Lease process and how the program could capture more loan growth.

“It’s important for credit unions to gain a greater market share of this business. This webinar will leave those attending with a better understanding of how to get started and grow, as credit unions have a unique advantage,” said Robert O’Hara, vice president of strategic alliances at GrooveCar.

CU Xpress Lease, now in its 10th year, was first launched by GrooveCar in 2006 and has since provided a seamless process to capture auto loan volume through leasing.

The webinar will cover how the lease program is designed for the credit union to retain the benefits of leasing while also holding control of the credit process.

“The goal is to demonstrate how incremental growth can be achieved through leasing. We will be discussing data including statistical information we have witnessed from credit unions on our program,” said O’Hara. “Credit unions will find the information very beneficial as we enter a new year since leasing could help credit unions reach their loan volume and revenue goals for next year.”

CU Xpress Lease said the webinar also provides information on how leasing has become the finance choice for many throughout key regions of the country.

“In some regions of the U.S., up to 70 percent of new-vehicle purchases are through leasing. Credit unions will learn how to be competitive at all stages instead of competing for just traditional loans. Plus, leasing provides an excellent opportunity to build stronger relationships and relevancy with local dealers since there is far fewer lease options for them to choose from, thereby allowing the credit union to stand out,” said O’Hara.

Included in the webinar will be in-depth information regarding lease statistics and market data, the benefits of credit unions offering a lease program, as well as the risks associated with leasing.

Credit unions can sign up for the webinar at GrooveCarInc.com.