In at least one case, banks and credit unions are nearly tied when it comes to the average rate on five-year, indirect new auto loans.

According to rate tracking firm Informa Research Services, credit unions had an average rate of 8.37% compared to 8.38% for banks as of Nov. 13. The indirect loan average applies to those who have credit scores between 625 and 640.

Credit unions are ahead of banks by a few points in other five-year, indirect loan categories. The average rate for those with credit scores between 680 and 719 was 4.38% at credit unions and 4.71% at banks for the period tracked.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Management
Lending
Marketing