Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CUs Fewer borrowing to buy cars
TACOMA, Wash. (10/10/08)--Fewer people are looking to borrow money to buy cars, two Tacoma, Wash.-based credit unions told The News Tribune recently. Although the $397-million asset Sound CU has plenty of capital to lend, borrowing has changed. Loan growth is “positive, but it is slower than it has been,” Carl Roer, Sound CU vice president of lending, told the newspaper. Members are being more careful because of higher gas prices and lower home values, he added. The $234 million asset Tapco CU has left its loan rates unchanged, but is not making as many exceptions to members because of the economy, Tom Shafar, Tapco loan manager, told The News Tribute. Consumers need to understand their credit and check availability. Dealerships have large inventories, so they can negotiate. But demand has lessened, Roer said. More than 80% of auto loan applications in the U.S. were approved last year. The number has dropped to 63%, according to research cited by the newspaper. For the full article, use the link.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
1 day ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
1 day ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
1 day ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
1 day ago