Credit Union Auto Financing

The nation's credit unions boosted their auto financing market share in April up to 14.2% from 13.2% in March, although we are still below the June 2002 high of 15.2%. Again this month, most of the gain was due to a higher number of used auto loans, of which credit unions now hold an 18.1% financing market share. New loans, due to continuing incentives, are more difficult for credit unions to originate, holding only an 11.5% share.

 
 

The nation's credit unions boosted their auto financing market share in April up to 14.2% from 13.2% in March, although we are still below the June 2002 high of 15.2%. Again this month, most of the gain was due to a higher number of used auto loans, of which credit unions now hold an 18.1% financing market share. New loans, due to continuing incentives, are more difficult for credit unions to originate, holding only an 11.5% share.

The figures, from the 29 states covered by AutoCount USA, show Colorado, Minnesota, Montana, Washington, and Iowa as the top 5 credit unions states for auto financing, each holding over 20% market share.

 

 

 

June 17, 2003


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