A combination of increasing consumer confidence and less-aggressive financing incentives from manufacturers continue to help credit unions grow their vehicle loan portfolios.

According to CUNA Mutual Group's October Credit Union Trends Report, at $197 billion, credit union-held member vehicle loans were up 19% from their low point in March 2011 and were up 10.8% during the past 12 months. The report tracked data through August.

A combination of factors is propelling this remarkable reversal of trend, wrote Dave Colby, CUNA Mutual chief economist, in the report.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.