Maximize Auto Lending Through Enhanced Dealer Relationships

Credit unions continue to play a significant role in the auto financing market. The industry maintains 16% market share with it's $140 billion auto loan portfolio. This percentage, as well as the fact that auto loans accounted for 39% of credit union loans at midyear 2003, reflect the industry's rising focus on the auto financing market.

 

By Callahan & Associates, Inc.

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Credit unions continue to play a significant role in the auto financing market. The industry maintains 16% market share with it's $140 billion auto loan portfolio. This percentage, as well as the fact that auto loans accounted for 39% of credit union loans at midyear 2003, reflect the industry's rising focus on the auto financing market.
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As a result of credit unions' increasing impact on the auto market, it is critically important for credit unions to develop and maintain strong relationships with automobile dealers. For this reason, credit unions are exhibiting at the NADA Convention and Exposition, otherwise known as the ''Automotive Industry Event of the Year'', to represent the aggregate strength of the industry's 80 million members. The convention will be held in Las Vegas from January 30 - February 3, 2004.

At this year's convention, 26,000 people attended the event and 35% of those attendees were dealer principals or managers. The upcoming convention for 2004 will mark the first appearance for credit unions at the convention. A 30' x 50' booth will be built around the theme of ''America's Credit Unions…80 million Reasons Why!'' Developing a credit union presence at this event offers a unique opportunity for credit unions to:

  • Demonstrate the cooperative and aggregated strength of the credit union industry's 80 million members
  • Build relationships with top state and local dealers
  • Make a positive statement to all lenders and dealers
  • Generate awareness with manufacturers and new car franchised dealers
  • Maximize exposure at a minimum cost

To register your credit union, or for more information, call Jon Jeffreys at (800) 446-7453 ext. 355.

This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at ads@creditunions.com or 1-800-446-7453.

 

Oct. 13, 2003


Comments

 
 
 
  • GREAT IDEA!!!!
    Anonymous
     
     
     
  • All Credit Unions should look at this as a HUGE Opportunity
    Anonymous
     
     
     
  • From the heading, I was actually hoping to read some suggestions on how to do just that. Didn't expect it to be about an endorsement for an auto show. However, I do agree about our participation being advantageous.
    Anonymous
     
     
     
  • This article might be good for some 100 million dollar CU, but what about us small guys.
    Anonymous
     
     
     
 
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