HAUPPAUGE, N.Y. –

CU Xpress Lease, part of the GrooveCar family of brands, recently formed a partnership with Peoples Credit Union, which will be offering vehicle leasing in Broward and Palm Beach counties in south Florida.

Peoples chief executive officer Jeffrey Miller explained how the institution created this alignment with CU Xpress Lease.

“The leasing market in general is very strong right now In fact, 2013 leases were up by 26 percent over 2012, and south Florida has one of the top lease markets in the country,” Miller said. “We knew that by offering leasing we could build loan volume without compromising credit risk.

“After reading an Op-Ed about leasing, I reached out to CU Xpress Lease to find out how Peoples could implement their program,” he continued.

 Established in 1946 and based in Pembroke Pines. Fla, Peoples has assets of approximately $85 million and serves more than 12,500 members.  It is rated by Bauer Financial as a five-star financial institution, a designation given to recognize superior strength, performance and safety. 

“South Florida is one of the premier automotive lease markets in the country,” GrooveCar senior vice president Frank Rinaudo said. “Depending on the brand, upwards of 70 percent of all new vehicle sales are represented by leasing in this region.

“Our organization is excited about our expansion into the south Florida market,” Rinaudo added.