News

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...

GREAT BARRINGTON, Mass. - The average American spends more than a quarter million dollars on automobiles over the course of their driving lifetime. That figure, reported by the American Institute for Economic Research (AIER) and which includes vehicles, fuel, insurance, maintenance, repairs, and license and registration fees, is twice what...

MCLEAN, Va. - A recently released survey from the National Automobile Dealers Association's Industry Analysis Division shows 94% of new car and light truck dealerships have Web sites - up slightly from 93% in 2003 and 74% in 1999. Of these sites, 98% are interactive with most allowing consumers to...

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...

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...

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...

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...

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...