Credit union vehicle loans outstanding have dropped 2.2% so far in 2012 but lending activity is still higher than it was a year ago.
That's according to Brian Turner, director and chief strategist at Catalyst Strategic Solutions, a subsidiary of Catalyst Corporate Federal Credit Union in Plano, Texas. New vehicle loans experienced a 8.2% decline, which was offset by a 1% increase in used vehicle loans.
Still, compared to last year, vehicle loans are up 1.1% from one year ago as a 6.6% decline in new vehicle loans has been offset by a 5.8% increase in used vehicle loans, according to Turner.
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