FOM Limit Discounted
When a credit union makes the announcement that it is planning to convert to a bank, it almost always throws the industry into a tizzy.
The controversy often stems from the motivations behind wanting the conversion.
Today, credit union auto lending market share hovers around 17%, up from 13% to 14% a few years ago, Greenwald said. At one point, it was 25%, but that was when no one else was lending, he added.
Still, wherever they are based, credit unions will likely still need to continue building alliance with local dealerships. Greenwald said in some markets, lenders have been aggressive on rates but that can be a good thing for the industry.