CU auto lending picks up speed.
Credit unions have been gaining auto lending market share for a few years, and 2017 not only continued this trend but proved to be an especially good year.
Credit unions' market strength is reinforced by the 11.3% year-over-year auto loan growth they experienced in 2017, which expanded their market share in both new and used car loans. As a matter of fact, Callahan & Associates reported that Q4 2017 marked 18 consecutive quarters of double-digit growth for credit unions in auto lending. Auto loans in the credit union portfolio reached $335.9 billion in the fourth quarter.
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