CU Direct says car sales will fall this year, providing new opportunities and challenges for credit unions.
Price alone won’t be enough to gain share in a tightening market, CU Direct analyst warns.
Organic loan growth is the most profitable loan revenue source because it comes from existing memberships.
CU Direct reports leases accounted for 32% of new vehicles so far this year, compared to 27% in 2015.
A preferred dealer network is critical to driving your auto loan business to the next level.
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New car sales are expected to reach 17.7 million in 2016.
During the past year, memberships grew 4.2%. CUNA Mutual projects that membership should grow more than 3% this year.
One in four vehicles sold is financed by a credit union – a 20% jump compared to 2015.