Credit union auto lending growth for the 12 months ended in September was 0.7%. At the same time, auto loans held 34.1% of the loan portfolio. To grow, credit unions must increase market share. In a market where change is constant, what can you do to drive growth in your auto lending program?
Start with the basics. You don’t have to wait for “the right time” to grow your portfolio. Deepen member relationships. Have members think of their credit union first. Credit union asset size doesn’t matter. Learn from Callahan and successful credit union programs ways to increase your auto lending market share.
Watch this video excerpted from the Callahan webinar event Re-Strategizing in a Slow Auto Market: Successful Loan Recapture Programs.