Who are the top ten leaders in auto loan growth?

 
 

The U.S. economy has seen an auto sales boom in 2013 as consumers have not slowed down in replacing their old vehicles to new ones. The credit union industry’s auto loan portfolio increased by 9.7% annually to reach $189.5 billion as of June 2013. This was the highest auto loan growth the industry has ever seen since the recession. New auto loans posted the largest turn-around, increasing by 10.7% to top $67.0 billion. Used auto loan balances grew 9.2% annually to $122.5 billion as of June 2013.

Among credit unions over $20 million in assets and whose total auto loan balance as of second quarter 2013 is over $3 million, Dexter ($121.2M, Central Falls, RI) led the way in 12-month auto loan growth. Its auto loan portfolio grew by 474.7% over the past year to reach $12.1 million as of June 2013. Patriots ($84.5M, Aliso Viejo, CA) was the next leading credit union in annual auto loan growth with its outstanding auto loans increasing nearly three-fold from last year.

LEADERS IN 12-MONTH AUTO LOAN GROWTH
Data As of June 30, 2013 for Credit Unions over $20M in Assets & Total Auto Loans over $3M | Excluding Significant Mergers
© Callahan & Associates | www.creditunions.com

  Credit Union State 12-Month Growth Auto Loans Outstanding as of June 2013 Auto Loans Outstanding as of June 2012 Total Assets
1 DEXTER RI 474.66% $12,067,031 $2,099,871 $121,162,277
2 PATRIOTS CA 288.21% $28,731,378 $7,401,064 $84,476,829
3 LAFAYETTE MD 242.26% $18,057,070 $5,275,885 $367,722,014
4 TULSA OK 131.10% $134,873,911 $58,360,929 $632,746,797
5 CONSOLIDATED OR 128.58% $31,282,986 $13,685,730 $180,538,088
6 MILL TOWN WA 128.35% $5,735,963 $2,511,898 $46,369,599
7 ENTERPRISE WI 125.57% $11,651,942 $5,165,451 $28,788,012
8 HONOLULU HI 124.09% $23,682,381 $10,568,016 $238,791,899
9 SOUTHCOAST HEALTH SYSTEM MA 116.14% $3,903,412 $1,805,942 $47,151,344
10 ALDEN MA 113.51% $18,862,518 $8,834,574 $107,790,573


Source: Callahan & Associates’ Peer-to-Peer Analytics
Callahan & Associates’ 2014 Directory

 
 

Oct. 31, 2013


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