Wednesday, March 22, 2017

Carvana Partners With Texas Credit Union

Phoenix-based online used car seller Carvana--which is reportedly in the process of filing for an IPO--has signed up a large credit union in Texas as a partner. According to Carvana, the Randolph-Brooks Federal Credit Union (RBFCU), a Texas-based credit union with over $7.5 billion in assets, has partnered with the firm to help with vehicle purchase and financing. RBFCU has over 700,000 members. Financial details of the partnership were not announced. Carvana has a big market presence in Texas, having recently opened its third "car vending machine" in the state.