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Auto and Indirect Lending Continues Record Climb

Credit unions team up with auto dealers to sell loans.

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Credit unions don’t expect much change in overall automobile sales next year from the current record levels. Yet, credit union officials do expect to make gains by bringing credit unions to new members indirectly through automobile showrooms.

Auto loans remain one of the fastest-growing portions of credit unions’ loan portfolios, and indirect loans are a major reason. Auto loans stood at $296 billion on Sept. 30, up 14% from a year earlier. They accounted for 34.1% of total loans, up from 33% a year earlier and 31.8% two years ago.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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