At 1.59%, the $886 million Andrews Federal Credit Union had the nation's lowest credit union rate on both used and new car loans as of Aug. 13.

According to SNL Financial, a firm that tracks rates at credit unions and banks, new and used car loans accounted for 28.10% and 13.07%, respectively, in the Suitland, Md.-based Andrews FCU's total loan portfolio as of June 30.

Credit unions managed to offer better rates on aggregate new auto loans despite aggressive competition from other lenders, SNL Financial said. Aggregate new auto loans fell by 28.79% to $58.88 billion as of March 31 from $82.68 billion at year-end 2008.

Loans for used autos continue to outpace new car loans, up 14.26% to $109.14 billion from $95.52 billion during the same period.

After Andrews FCU, the rest of the top 10 list of credit unions had the same lowest rates for both new and used car loans:

–$274 million Consumer Credit Union in Greeneville, Tenn., at 1.64%

–$718 million Marine Federal Credit Union in Jacksonville, N.C., at 1.70%.

–$1.6 billion JSC Federal Credit Union in Houston at 1.74%

–$203 million UT Federal Credit Union in Knoxville, Tenn., at 1.74%

–$320 million John Hopkins Federal Credit Union in Baltimore at 1.74%

–$851 million Scott Credit Union in Collinsville, Ill. at 1.74%

–$76 million FedFinancial Federal Credit Union in Rockville, Md., at 1.75%

–$518 million Shell Federal Credit Union in Deer Park, Texas at 1.75%

–$75 million Connects Federal Credit Union in Richmond, Va., at 1.79%

–$80 million Chesterfield Federal Credit Union in Midlothian, Va., at 1.75%