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Alliant Credit Union Defies Trends & Expands Automotive Leasing

With heavy growth in 2020, the Chicago-area credit union is expanding its reach into Pennsylvania.

Chart showing that auto leasing has slowed for credit unions nationwide.

Last year was not a good one for automotive leasing. More deals among all financial institutions went to loans, and leases at credit union leases grew less than 2%.

One exception was Alliant Credit Union of Chicago ($13.5 billion in assets, 550,400 members). It was the nation’s 14th largest leaser at the end of last year with $70.3 million in leases as of Dec. 31, more than double its leases a year earlier.

Only 88 credit unions held leases on their balance sheets in December. Total leases at Dec. 31 were $4.7 billion, up 1.7% from a year earlier. That’s down from growth rates of 13% in 2019 and 17% in 2018 and 62% in 2017.

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Jim DuPlessis

Jim DuPlessis

A journalist for decades.

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