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CU auto lending picks up speed.

Credit unions continued to grow their overall share of the automotive finance market in Q2 2018, garnering higher growth than all other lender types combined.

Based on findings from Experian’s latest “State of the Automotive Finance Market” report, credit unions saw the highest growth, both in terms of total dollar volume and percentage increase. From Q2 2017 to Q2 2018, credit unions’ open automotive loan balances jumped from $295 billion to $329 billion, a more than 11% increase. The $34 billion increase was more than that of banks ($1 billion), captives ($8 billion) and finance companies ($5 billion) combined.

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