Credit Unions are on a Roll Picking up Auto Loans

May, credit unions originated 17.6% of all auto loans, tying a record for auto lending market share. Recent slow sales have brought another round of sweet incentives that should bring consumers to the dealer lots and hopefully to your credit union.

 
 

With a new round of vehicle incentives now hitting the nation, credit unions are looking to again boost their auto lending market share from their recent high levels.

For the first time since Callahan & Associates started tracking credit union auto lending market share in 2002, the nation’s credit unions originated over 17.5% of all auto loans for two consecutive months (April and May).

 

 

 

July 12, 2004


Comments

 
 
 
  • Can these statistics be broken down by CU asset size? What is the breakdown of the other 82.4% (Captives, Commercial banks, etc.) How are CUSO's adding to this market share percent?
    Anonymous
     
     
     
  • One big change in the rebates may end up hurting CU's. Many of the captives have finally wised up and tied the rebate to financing by the captive. So instead of getting $5,000 to put toward that big ol' truck you are now getting that $5,000 so long as you finance with GMAC, FMC etc.
    Anonymous