With smartphone in hand, members will have another resource toturn as they shop for a new vehicle.

CUNA Mutual Group offered a sneak peek of its AskAutodownloadable smartphone and table application Monday morning atCUNA's Governmental Affairs Conference in Washington.

By scanning the vehicle identification number, the member learnsbasic vehicle information, including average retail cost of thenew or used vehicle and EPA mileage estimates, according toCUNA Mutual.

The application saves this information along with the member'snotes and ranking preferences to allow for a comparison betweenvehicles before deciding to purchase. Once a decision is reached,the member can also submit a credit union loan application throughAskAuto, CUNA Mutual sa

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The comparison feature is really important to members, saidSteve Hoke, director of loan growth products at CUNA Mutual andproduct leader for AskAuto.

“This technology gives members the ability to apply for a loananytime, anywhere using their smartphone,” Hoke said.

Forty-four percent of likely car buyers plan to use a smartphoneto compare prices on the dealer lot, according to CUNA Mutual,citing data from “Mobile Auto Insights,” Greystripe Inc., April2011.

“AskAuto also gives credit unions the ability to send messagesto their members using GPS technology while the member is on a cardealer's lot,” Hoke said.

Hoke explained that AskAuto uses patent-pending technology tohelp credit unions reach their members on the car dealer lot bysending messages to them. These messages are customizable and canprovide members guidance on the best loan available from theircredit union, he added.

“AskAuto informs, empowers and meets the expectations oftech-savvy, younger members just entering their peak borrowingyears,” Hoke said.

The technology uses CUNA Mutual's loanliner.com product, whichis used by more than 500 credit unions nationwide, according to thecompany.

More than $600 million in loan requests have been submitted viaCUNA Mutual's smartphone loan technology since it debuted in June2011, and 45% of smartphone loan applicants express interest inpayment protection products, Hoke said.

Early adopter credit unions will begin using AskAuto in March,and the full release is scheduled for early this summer, accordingto CUNA Mutual.