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2005 Expected to be Bleak Year for Big Three Automakers

By Staff Writer

DETROIT - The U.S. economy may be showing signs of slowly recovering, but based on experts' estimates that's not reaching U.S. automakers' projections for 2005. Facing increased and aggressive competition from automakers in Asia and Europe, experts say U.S. automakers overall sales will continue their downward trend in 2005 from...

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Americans Spend More on Cars in Lifetime than Social Security

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Internet Use by New Car Dealers at All-time High

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January 11, 2005

CUs Continue as Popular Source for Auto Loans for Members

WASHINGTON -Auto loans historically have been many members' first lending relationship with their credit unions, and that trend doesn't show any signs of changing. Despite dealing with continuing competition from manufacturers' rebate and incentive offers and an overall more intense auto loan market, credit unions continue to hold their own...

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January 11, 2005

Aimbridge's New Subprime Auto Lending Division Lets CUs, Dealers Serve Credit Challenged Members

DENVER - By entering the subprime auto lending market, Aimbridge Lending wants credit unions to be able to offer auto loans to those members who fall outside the prime lending market. Aimbridge Lending COO Ann Schmitt said she didn't have estimates on the number of auto loan applications that are...

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January 11, 2005

Redstone FCU Makes Four Members Happy in Giant SUV Giveback Promotion

HUNTSVILLE, Ala. - Four members of Redstone FCU drove home with early Christmas gifts from the credit union in the form of brand new 2005 SUVs. The four were winners of Redstone's Giant SUV Giveback promotion the credit union ran for four months starting September 1. More than 30,000 members...

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January 11, 2005

Though Few U.S. Credit Unions Have Experienced Any Direct Effects From Tsunamis, Many are Rallying to Help Victims

WEST PALM BEACH, Fla. - Living the "people helping people" philosophy, credit unions are stepping up to help victims devastated by the tsunami that affected 11 nations bordering the Indian Ocean. Many credit unions, such as Lake Michigan CU and Security Service FCU, have already established accounts to accept donations...

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January 11, 2005

New Markets, New CU Clients Made 2004 a Good Year for CUAC

HOUSTON - In retrospect, 2004 was a good year for Credit Union Acceptance Corp. But several of the factors that made it successful for the indirect lending CUSO may get 2005 off to a slow start for the company. CUAC, which was founded in 1998 by eight Houston-based CUs, added...

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January 04, 2005