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Credit Unions Provide Nearly One-Third of Car Loans

Fed data shows credit unions' share of auto loans tops 32% in June.

Auto lending trends heading up.

Credit unions held record shares of the nation’s loans to consumers for credit cards and automobiles in June, the Fed reported Tuesday.

The Fed’s G-19 Consumer Lending Report showed credit unions held 5.8% of the nation’s credit card debt in June, their highest share since the Fed began tracking the numbers in January 1984. It was essentially unchanged from 5.8% in May and up from 5.6% in June 2017.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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