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New data on the auto finance market show that credit unions closed out the third quarter of 2016 with the highest percentage of growth among all lender types. For the first time ever, credit unions have surpassed captive auto lenders to become the second largest lender type in the market. Credit unions came in with $269 billion in open loans in Q3, with captive auto lenders at $250 billion. However, banks still lead the market with $358 billion on the books.

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