This year may be a turning point for credit union auto loan programs with monthly market shares poised to range from 18% to 24%, which were highs experienced prior to the recession.
After seeing monthly market shares from 18% to 24% just prior to the recession, credit union auto loan programs may be returning to those record levels.
When it comes to five-year, new, indirect auto loans, credit unions and banks are running pretty close with their rates.
In at least one case, banks and credit unions are nearly tied when it comes to the average rate on five-year, indirect new auto loans.
A jury has ruled that Michigan First Credit Union was entitled to $5 million in damages from CUMIS Insurance Society Inc. in a case involving a wrongful denial of a fidelity bond claim.
Detroit court rules credit union is entitled to $5 million in damages and another $2.7 million in interest.