A combination of less-generous rate incentives from new vehiclesellers and aggressive rate pricing is accelerating the growth ofnew car loans at credit unions.
Analysis from CUNA Mutual Group's October Credit Union TrendsReport revealed that those factors contributed to 4.1% annual newvehicle growth as of August.
A reduced rate of payoffs and less competition from home equity loans have also helped grow creditunions' new vehicle loans, the data showed.
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