Tenet Energy Proves Out Lender Network with Service Credit Union to Drive EV Adoption
2024年7月25日 - 10:30PM
ビジネスワイヤ(英語)
Service Credit Union and Tenet Energy Inc.
partner for seamless electric vehicle financing and a reliable
source of new member growth
Tenet Energy Inc. (“Tenet”), a climate financial technology
platform to accelerate America’s sustainable energy transition,
starting with electric vehicles, has partnered with Service Credit
Union (“Service CU”), a leading member-owned financial institution,
to provide more affordable options to accelerate the adoption of
electric vehicles with promising results thus far.
The partnership gives Service Credit Union the ability to
accelerate new member growth with Tenet’s EV purchase and financing
platform. Service CU receives vetted and high-intent EV auto loans,
funded or ready to fund, from Tenet’s EV-specific acquisition
channels and streamlined, 100% digital origination experience. This
modern auto initiative provides credit unions with a unique EV
lending experience without extra overhead or infrastructure
solution and scales origination growth.
“Tenet has been a great partner in the EV space and has helped
us drive new member growth,” said Mark O'Dell, Chief Retail Officer
at Service Credit Union. “The electric vehicle loan portfolio has
had A+ performance.”
Since the start of its partnership with Tenet, Service Credit
Union has experienced significant growth by adding over 700 new
members and avoiding approximately 160 tons of CO2 emissions every
month. This equates to roughly $34.8 million in loan volume sold,
primarily to consumers with high credit scores and majority
homeownership. These impressive metrics highlight the success and
impact of the collaboration, as well as the future growth
projection with strong risk profiles and lower delinquency
rates.
"We are thrilled about our partnership with Service Credit
Union, which makes EV ownership more accessible,” said Bo Kane,
Head of Capital Markets at Tenet. “Together, we are not only
supporting our customers in making environmentally responsible
choices but meeting them where they are in digitally native
channels. Partnering with Service Credit Union and broadening our
lender network with additional credit unions is a key step in our
mission to accelerate the transition to sustainable energy."
Service Credit Union and Tenet Energy are committed to
continuing their efforts to grow sustainably, ensuring that members
can benefit from the latest advancements in clean energy
technology. By making EV ownership more affordable, they aim to
create a positive environmental impact while enhancing the
financial well-being of their members.
About Tenet
Tenet makes it easier than ever to finance renewable energy
products, starting with EVs. Through its innovative,
climate-friendly financial technology designed to accelerate the
mainstream adoption of sustainable energy, Tenet connects EV
drivers and fleet owners with better loan terms from
sustainability-focused financial institutions. In addition to EV
affordability, Tenet offers free software services to reduce
charging costs and share personalized carbon emissions impacts. For
more information, visit www.tenet.com/credit-unions. Join the
conversation on X (formerly Twitter), Facebook, LinkedIn,
Instagram, and TikTok.
About Service Credit Union
Service Credit Union is dedicated to providing a banking
experience that improves our members’ lives and the communities in
which they live. Established in 1957 to provide affordable credit
to the Pease Air Force Base community, and now the largest credit
union in New Hampshire, with over $5 billion in assets and 50
branch locations in the New England region and Germany, we continue
to provide a better future to our members all over the world. To
learn more about Service Credit Union, please visit
servicecu.org.
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version on businesswire.com: https://www.businesswire.com/news/home/20240725394225/en/
Investor contact: Bo Kane Head of Capital Markets
bo.kane@tenet.com Tel: (+1) 336-745-5619
Media contact: Melissa Dayton Head of Marketing
melissa.dayton@tenet.com Tel: (+1) 757-285-8213