Origence, the leading credit union lending technology company in the U.S., and Tesla, the largest EV manufacturer in the world, announce a partnership to offer credit union financing to EV buyers through the Tesla website. This partnership will provide Tesla buyers seeking affordable monthly payments with more options through credit union financing.
By making credit union financing available at the point of purchase, EV buyers will have easy access to competitive rates and extended financing terms—both important factors in providing consumers with options to lower their monthly payments.
Consumers shopping for Tesla vehicles are provided financing options when reserving or purchasing a Model Y, Model 3, Model X, Model S, or Cybertruck vehicle through Tesla’s website or mobile app. The addition of credit union financing makes convenient point-of-sale financing available to millions of credit union members and consumers seeking low-rate financing options.
Origence will leverage its new licensed subsidiary, FI Connect, to purchase and place retail contracts with partner credit unions nationwide. When a consumer finances their vehicle through FI Connect on the Tesla website, the contract will be purchased and serviced by a credit union.
“Tesla is making their cars more affordable for credit union members with price adjustments,” said Tony Boutelle, president and CEO of Origence. “With FI Connect and Tesla coming together, EV buyers can receive affordable financing through credit unions.”