New & Used Auto Loan Growth

In the face of renewed competition for consumers' auto loans, these 10 credit unions turned in dramatic growth in their auto loan portfolio.

 
 

At June 30, auto sales year-to-date were up 16.7%, according to Motor Intelligence. Captive financers are getting more aggressive with 0% rate deals and other promotions to capture a greater share of the auto market.

According to Experian Automotive, credit unions, in aggregate, hold 15.2% of the total auto market. This is down from a peak of 22. 7% in January of 2009. But this weighted average hides variations at the state level.  New Jersey credit unions holds jus 2.7% of their auto market share while credit unions in Utah have captured 42.0% of their market, according to the 2Q 2010 edition of Credit Union Strategy & Performance.

Below are the top 10 credit unions in total auto loan growth that also had growth in both new and used autos. Seven of these 10 participate in indirect auto lending networks; only Realtors (MD), Benchmark (TX) and Kunia (HI) do not, according to 5300 filings.

Top 10 Credit Unions In Overall Auto Loan Growth
Credit Unions $10M+ In Assets | New And Used Auto Growth > 0%

Rk

St

Name

Overall Auto Growth

New Auto Growth

Used Auto Growth

Auto Loans / Total Loans

Total
Assets

1

MD

REALTORS 382.20% 204.70% 429.71% 18.25% $72,709,038
2 MI FIRST GENERAL 228.38% 88.77% 262.23% 76.12% $56,309,205
3 PA SUPERIOR 201.21% 11.98% 270.88% 40.50% $36,729,108
4 MN FINANCIAL ONE 196.91% 182.01% 205.50% 53.67% $63,478,758
5 CT FIRST CONNECTICUT 153.78% 136.01% 159.39% 60.84% $36,027,277
6 TX BENCHMARK 139.95% 3.52% 199.44% 82.65% $16,797,774
7 CT LEDGE LIGHT 132.86% 29.15% 339.50% 18.23% $206,603,785
8 MI COMMUNITY ALLIANCE 92.78% 42.27% 139.17% 31.23% $70,796,404
9 HI KUNIA 90.13% 66.05% 109.52% 76.36% $16,369,824
10 WI A-B 86.44% 96.41% 83.28% 17.17% $53,938,893

Source: Callahan & Associates’ Peer-to-Peer. For more information on how to identify other leaders, call the Callahan Analytics Team at (800) 446-7453.

 

 

 

Sept. 13, 2010


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