Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Experian: CUs made up 124% of new-auto loans
MADISON, Wis. (1/4/13)--Credit unions accounted for 12.4% of new-vehicle loans in the third quarter, an increase from 10.5% in same period last year, said Experian Automotive.

It was the fourth consecutive quarter of market share gains for credit unions (Automotive News Jan. 2)

Credit Union Direct Lending (CUDL) Ontario, Calif., passed one million new and used cars and trucks in the dealer inventory listed on its site. That is an increase of more than 50% from a year earlier. CUDL increased its dealerships by 1,000 to 7,000 during 2012, said Phil Maniaci, senior vice president of CUDL Automotive.  

Bill Paschen, finance director for Jim Click Auto Group, Tucson, Ariz., told Automotive News he values the relative small size and local focus of credit unions. Credit unions also can be more flexible on loans, Paschen said.

Also, members are loyal to their credit unions, said Ralph Larson, finance and insurance director for Dick Hannah Dealerships in Vancouver, Wash. When a member's credit union found out the member was financing a car with someone else, it would often beat the offer. So, Larson started a policy of giving the credit union that financed the member's trade-in the chance to match other offers.
RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
13 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
14 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
16 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
18 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
18 hours ago