As of September 30, credit unions captured a higher market share of auto loan originations year-to-date in Utah than in any other state in the union. Although the 89 Utah-based credit unions were the primary driver of this success, in total 159 credit unions originated an auto loan in Utah, showing the expanding presence of credit unions beyond their local borders.
Originations for just the month of September were even higher, coming it at 47.5% overall. That month, Utah consumers used a credit union for almost 60% of used auto loans and slightly less than 28% of new auto loans.
The top 10 states are shown on the map below. A complete state map of year-to-date auto origination market share is included in each quarterly edition of Credit Union Strategy & Performance.
TOP 10 STATES FOR CREDIT UNIONS IN YTD AUTO LOAN MARKET SHARE | DATA AS OF SEPTEMBER 30, 2012
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SOURCE: AutoCount Data from Experian Automotive