Carvana continued its growth even in 2020, making its online retail platform a bigger threat to traditional dealers.
Credit unions and other lenders have watched Carvana as well, as it becomes an ever larger originator of car loans.
Navy Federal Credit Union of Vienna, Va. ($135.7 billion in assets, 9.9 million members as of Dec. 31) — the largest credit union and the largest car lender among credit unions — will launch a partnership this month with Carvana competitor TrueCar. The Santa Monica, Calif., company launched an online channel last year called TrueCar Military that offers special discounts to active or retired military personnel and their family members.
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