For some credit unions, the recipe for high auto loan volumes is a mix of strong relationships with dealers, fast response times and a dedicated staff.
According to a new survey from TransUnion, credit union executives believe auto loans will be their biggest opportunity to grow their loan portfolios this year.
Survey at GAC finds more than half of respondents saying auto presents greatest loan growth potential.
Thanks to increasing competion among data analytic firms, more consumers than ever before will have credit scores.
When it comes to underwriting consumer loans, some community development credit unions have found success by looking at other factors besides credit scores.
The ratio of borrowers that are 60 more days past due on their auto loans continue to remain at near historic low levels, TransUnion says.
TransUnion says rate of mortgage holders more than 60 days behind now at 5.19%, primarily driven by older loans.
Forget that jobless claims were revised upward, even higher than initial projections. The New Year is a time for optimism. As California CU League Economist Dwight Johnston wrote in his commentary in the Trust for Credit Unions e-newsletter, “This was the fifth year in a row of triple-digit gains on...
Last year was not the most glowing year for student loans, reputation-wise. The Consumer Financial Protection Bureau’s release of numerous negative comments from the public on their experiences as private student loan borrowers, comparisons of student loans to the burst mortgage bubble and the fact that national student loan debt...
With a combination of used vehicles reaching their maturity mark for some car drivers and record financials from manufacturers that have emerged from a dismal scene, 2013 may shape up to be a solid year for auto lending growth.