Credit unions with assets ranging from $404 million to $52.4 billion accounted for 80% of vehicle loan growth in 2012.
According to CUNA Mutual Group's March Credit Union Trends Report, the industry's total vehicle loan portfolio increased in each of the past 12 months and now stands at $15.6 billion or 9.3% above the January 2012 level. As a result, annual growth in January is at its highest level in more than seven years.
Meanwhile, 49% of credit unions reported positive vehicle loan growth and the 510 largest credit unions by asset size accounted for 80% of 2012's gain. The 197 billion-dollar credit unions also accounted for 57.9% of that growth. On the other end, a total of 145 credit unions of the 510 in the large credit union category group reported declines in their auto loan portfolios.
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