It would probably be a mistake for credit unions to assume their loyal members will likely choose them as their preferred lender when it's time to buy a new vehicle.
That's one of the conclusions coming from a new report from the Filene Research Institute, "Predicting Members' Choice of Auto Lender: Borrowing from Credit Unions or Elsewhere?", authored by Luis G. Dopico.
When it comes to which lender a member will choose to finance a car loan, credit unions should probably not count so much on interest rates but more on how easy and quickly they can respond to that potential borrower.
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