With the exception of auto loans, credit unions and banks are competing closely in nearly all loans.

According to rate tracking firm Informa Research Services, credit unions had an average rate of 3.92% on five-year, new auto loans compared to banks at 5.39% as of June 14. With two-year to four-year, used auto loans, credit unions had an average rate 4.05% and banks' average rate was 5.64%.

Meanwhile, the gaps are not as wide in other loans. On a 30-year, fixed conforming mortgage loan, credit unions had an average rate of 4.58% with banks close behind at 4.53%. The same was true with 30-year fixed jumbo loans with credit unions at 5.03% and banks at 5.05%.

The average rate at credit unions on a four-year, $5,000, unsecured personal loan was 10.62% and 10.95% at banks.

Even in indirect lending, credit unions and banks are in close competition. The average rate on a five-year indirect tier A auto loan at credit unions was 4.81% and 4.92% at banks. On five-year indirect tier B auto loans, credit unions had an average rate of 6.65% while banks offered a rate of 6.60%. The pattern is also seen on five-year indirect tier C auto loans with credit unions at 8.65% and 8.60% at banks.

Borrowers are considered to have A credit if their score is between 680 and 719, B for scores between 650 and 679 an C if scores fall between 625 and 649, according to Informa.

Instant Insights /

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