Auto loan penetration measures the number of members having auto loans at the credit union. As of June 2013, 16.25% of credit union members held auto loan accounts at the credit unions on average, up from 15.85% reported a year ago.
Citizens Community ($172.7M, Ft Dodge, IA) boasted the highest auto loan penetration among all credit unions over $20 million in assets. It reported that more than 96% of its total 14,956 members are having auto loans at the credit union as of June 2013. The credit union specializes in auto lending (its auto loan concentration stands at 91.9% as of second quarter 2013) and participates in indirect lending, which amounts to over $106.3 million in total. Consolidated ($180.5M, Portland, OR) was the next leading credit union in auto loan penetration, with 70.4% of its members having auto loans at the credit union.
LEADERS IN AUTO LOAN PENETRATION
Data as of June 30, 2013 For Credit Unions Over $20M In Assets
© Callahan & Associates | www.creditunions.com
|
|
Credit Union |
State |
Auto Loan Penetration |
Auto Loan Concentration |
Total Auto Loans |
Total Assets |
|
1 |
CITIZENS COMMUNITY |
IA |
96.37% |
91.87% |
$120,468,703 |
$172,662,816 |
|
2 |
CONSOLIDATED |
OR |
70.40% |
26.13% |
$31,282,986 |
$180,538,088 |
|
3 |
HANIN |
CA |
67.74% |
79.45% |
$11,795,895 |
$21,344,291 |
|
4 |
ATLANTA POSTAL |
GA |
61.72% |
49.14% |
$452,304,639 |
$2,045,917,954 |
|
5 |
MCGRAW-HILL |
NJ |
59.85% |
13.19% |
$24,855,945 |
$325,075,837 |
|
6 |
COASTHILLS |
CA |
54.78% |
34.22% |
$208,803,813 |
$718,055,041 |
|
7 |
MERITRUST |
KS |
53.77% |
68.80% |
$518,686,887 |
$889,884,868 |
|
8 |
GENERAL ELECTRIC |
OH |
53.62% |
64.44% |
$1,038,425,073 |
$1,782,122,325 |
|
9 |
COMMUNITYWIDE |
IN |
51.99% |
74.84% |
$194,110,889 |
$315,341,999 |
|
10 |
GEORGIA'S OWN |
GA |
51.86% |
52.27% |
$694,776,339 |
$1,791,903,692 |
Source: Callahan & Associates’ Peer-to-Peer Analytics
Callahan & Associates’ 2014 Directory