At best, modest loan growth is the most credit unions are experiencing even as auto sales increased by 8% in September.
Data suggests CU still struggle for bigger share of auto loan market.
A robust recovery of vehicle sales may not been seen anytime soon as long as unemployment remains high.
When it comes to loan originations, it appears credit unions are seeing a glimmer of hope in their portfolios.
As the markets continue to roil in the aftermath of the country’s credit rating downgrade, members are likely seeking safe havens for their investment choices.
Newly merged corporate planning economic forum in Atlanta.
As long as unemployment remains high, a robust recovery of vehicle sales may not be seen anytime soon, NAFCU report says.
Sales figures show some members may be waiting it out over the next few months, paying down debt.
If credit unions stick to what they know when it comes to pricing for vehicle lending, it could pay off in the long run in building return and profits.
With members such as NASA scientists, Langley Federal Credit Union started looking at expanding its 16-year-old investment program in ways that would continue to meet the needs of its unique member base.