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The sharp downturn in the nation’s economy over the last year has allowed credit unions to further establish the important role they play in members’ lives. Through this period, credit unions grew auto lending market share from 14.7% in March 2008 to 24% in December 2008.

This trend has continued through the first half of 2009. Credit unions are playing an increasingly vital role in the marketplace by remaining an important lending resource for members as many banks and captives continue to shy away from auto loans. At the mid-way point of 2009, credit unions maintain a 22.5% market share.

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Peter Westerman


Credit Union Times

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