New & Used Auto Loan Growth

These 10 credit unions turned in dramatic growth in their auto loan portfolio despite renewed competition.

By Alix Patterson

At June 30, auto sales year-to-date were up 16.7%, according to Motor Intelligence. Captive financers are getting more aggressive with 0% rate deals and other promotions to capture a greater share of the auto market.

According to Experian Automotive, credit unions, in aggregate, hold 15.2% of the total auto market. This is down from a peak of 22.7% in January of 2009. But this weighted average hides variations at the state level. New Jersey credit unions holds jus 2.7% of their auto market share while credit unions in Utah have captured 42.0% of their market, according to the 2Q 2010 edition of Credit Union Strategy & Performance.

Below are the top 10 credit unions in total auto loan growth that also had growth in both new and used autos. Seven of these 10 participate in indirect auto lending networks; only Realtors (MD), Benchmark (TX) and Kunia (HI) do not, according to 5300 filings.

Top 10 Credit Unions in Overall Auto Loan Growth
Credit Unions $10M+ in assets \| new and used auto growth > 0%
Rk	St	Name	Overall Auto Growth	New Auto Growth	Used Auto Growth	Auto Loans / Total Loans	Total Assets
1	MD	REALTORS	382.20%	204.70%	429.71%	18.25%	$72,709,038
2	MI	FIRST GENERAL	228.38%	88.77%	262.23%	76.12%	$56,309,205
3	PA	SUPERIOR	201.21%	11.98%	270.88%	40.50%	$36,729,108
4	MN	FINANCIAL ONE	196.91%	182.01%	205.50%	53.67%	$63,478,758
5	CT	FIRST CONNECTICUT	153.78%	136.01%	159.39%	60.84%	$36,027,277
6	TX	BENCHMARK	139.95%	3.52%	199.44%	82.65%	$16,797,774
7	CT	LEDGE LIGHT	132.86%	29.15%	339.50%	18.23%	$206,603,785
8	MI	COMMUNITY ALLIANCE	92.78%	42.27%	139.17%	31.23%	$70,796,404
9	HI	KUNIA	90.13%	66.05%	109.52%	76.36%	$16,369,824
10	WI	A-B	86.44%	96.41%	83.28%	17.17%	$53,938,893
Source: Callahan & Associates’ Peer-to-Peer.
For more information on how to identify other leaders, call the Callahan Analytics Team at (800) 446-7453.