Auto Loans Propels Security Service FCU’s Portfolio Growth Past $6 Billion
Thanks in part to auto loans, Security Service Federal Credit Union’s total loans have surpassed the $6 billion mark.
The $6.7 billion credit union in San Antonio said business and consumer loans have also increased.
Only 23 out of more than 2,200 U.S. credit unions larger than $50 million grew their new and used auto loan portfolios by more than 5% each year between 2008 and 2010, according to Filene.
Security Service serves more than 900,000 members.