New and used auto lending continued to be a strong activity for credit unions through the third quarter 2005, as these charts from Callahan and Associates show. As of September, the dollar volume of auto loans generated by credit unions was more than in the past five years. In addition, both new and used auto loan penetration among all credit unions continued to climb and were at their highest levels since late 2002. As of September, new and used auto loans accounted for 17.8% and 18.8%, respectively, of credit unions' loan portfolio, ranking just behind first mortgages.
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From the January-11, 2006 issue of Credit Union Times Magazine • Subscribe!
2005 a Good Year for CU Auto Lending
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