CUs Report Decline in New and Used Auto Loans

The latest results of the Credit Union Times voting poll showed that credit unions have seen an overall decline in auto loans so far this year. The poll results showed that 39% of readers said their credit union has seen both new and used car loans decline in 2009 versus 2008. Twenty-three percent of respondents reported that both new and used car loans were up and another 23% voted that used car loans were up but new car sales were down. Just 1% of participants said that new car loans are up and used car sales are down. Twelve percent of readers reported that overall their car loans are holding steady with 2008 numbers. Will Corporate Fallout Hit CU Rates?

Credit Union Times' current online voting poll asks readers, What is the fallout at your credit union from the economy and NCUA premiums? With the one-two punch of the recession and the NCUA premiums, we want to know what changes in fees and rates credit unions are going to implement. As a result of the economy and the NCUA premiums, my credit union has/will: Increase fees to members Lower savings rates Raise Loan Rates A combination of the above None of the above