Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
iOrlando Sentineli reports CUs pursuit of auto loans
ORLANDO, Fla. (8/3/11)--Financing for vehicle loans is rebounding, and credit unions are among the financial institutions seeking loans, according to a July 31 Orlando Sentinel article. Credit unions are becoming more aggressive in pursuing loans outside of their existing memberships, according to the article. Several credit unions have reached out and asked to be considered as a finance source, said Chad Rogers, general manager of Classic Mazda and Holler Hyundai in Orlando. The article also says “credit unions should not be overlooked” and cites a Datatrac survey from March that said the average interest rate on a 60-month new car loan from U.S. credit unions was 4.12% compared to 5.46% from banks. Overall, loan approval rates have increased since the height of financial crisis. In June, the approval rate for new auto loans was 74.7%, up from 46.3% in December 2008. To read the article, use the link.
Other Resources

RSS print
News Now LiveWire
Ala. veterans can get job advice at Friday's career fair hosted by @RedstoneFCU http://t.co/9tf0tEcW4N
4 hours ago
See how one St. Louis-based #creditunion is helping members access transportation; get to work #tomorrow #NewsNow #CUNA
6 hours ago
Matz says no to @CUNA, NAFCU request for 90-day comment period extension on risk-based capital plan. Deadline stays at May 28.
6 hours ago
Sen. Banking Com. schedules April 29 vote on McWatters' @TheNCUA nomination--same day as panel vote on Johnson-Crapo housing finance reform.
6 hours ago
3 Wash. state CUs members were rewarded with $5K checks--the biggest winners yet in the state's prized-linked savings program, #SaveToWin
7 hours ago