Credit Unions Are at a Crossroads With Auto Loans

While credit unions' auto loan business will rebound, they need to make big changes to do so.

By William Ely | July 15, 2024 at 09:00 AM

Credit unions have traditionally been significant players in the auto loan market, offering competitive rates and personalized service. Throughout 2021 and 2022, they leveraged aggressive prices and strong member-focused strategies to make significant gains in vehicle financing market share.

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The pairing is paramount to effectively managing risks, ensuring robust security and paving a road to growth.

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Implement real-time payments, a subscription management tool and a financial advisor tool into digital banking.

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