RANCHO CUCAMONGA, Calif. — Bill Meyer, communications coordinator for CUDL, said that one important trend it is seeing in auto lending is the correlation between the slumping auto leasing segment, where banks and captives are leaving the market and credit unions ability to capitalize on this to increase overall market share. Other trends Meyers said he is watching are: the increased credit union auto lending market share, auto loans now account for one-third of the total credit union loan portfolio, and vehicle loan amounts have decreased as members seek smaller vehicles.
Tony Boutelle, president of CUDL, said that one of the reasons why credit unions are extending their market share is because they do a great job with used cars. "As the competition is pulling back, more credit unions are becoming lending partners with auto dealers. It's a great opportunity for credit unions to get back in the market," Boutelle said.
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