Last year was not a good one for automotive leasing. More deals among all financial institutions went to loans, and leases at credit union leases grew less than 2%.
One exception was Alliant Credit Union of Chicago ($13.5 billion in assets, 550,400 members). It was the nation's 14th largest leaser at the end of last year with $70.3 million in leases as of Dec. 31, more than double its leases a year earlier.
Only 88 credit unions held leases on their balance sheets in December. Total leases at Dec. 31 were $4.7 billion, up 1.7% from a year earlier. That's down from growth rates of 13% in 2019 and 17% in 2018 and 62% in 2017.
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