LAUREL, Md.–Tower Federal Credit Union has been named “Credit Union Partner of the Year” by Frost Financial Services for the third year in a row. The recognition is due to the continued success of the Tower Car Buying Service, an online car buying service powered by TrueCar that is offered to members.
In 2017, 1,871 Tower members purchased a vehicle using the Tower Car Buying Service, and of those, 1,088 financed auto loans with Tower. Tower also received a second award from Frost for having over 100 auto sales in at least one month during 2017. Tower had over 100 auto sales in 10 out of 12 months last year.
“The Tower Car Buying Service fits in well with Tower's mission to provide value to our members and offer convenient services that help members save money”, says Barry Stricklin, Tower's SVP and CLO. “The Tower Car Buying Service is a stress-free, one-stop car buying experience for our members. They can research new or used vehicles online to find the best option for them, get upfront, discounted member pricing from TrueCar Certified Dealers, and take advantage of Tower’s low cost auto loan rates.
Tower members get discounted member pricing when purchasing with the Tower Car Buying Service, Stricklin said. New car buyers have saved an average of $3,383 off the Manufacturer's Suggested Retail Price (MSRP).*
At right, David Mercer (right) and Sean Mercer (left), of Frost Financial, presented the award to Tower’s Senior Vice President, Chief Lending Officer Barry Stricklin (center); Manager of Consumer E-Lending Erica Thomas (far left); and E- Lending Specialist Linda Basdeo, (far right).