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
NADA CUs have money for auto loans
SAN DIEGO (10/17/08)--Many credit unions have the capacity to lend when it comes to auto loans, according to the chairman-elect of the National Automobile Dealers Association (NADA). “It’s important for consumers to know that credit is available,” said John McEleney, NADA chairman. “It may be a tough time for business, but it’s a great time for consumers who have a stable job and solid credit scores.” “The fact is local dealers have access to multiple sources of financing, including many credit unions and community banks that have plenty of money to lend,” he added. Gesa CU, Richland, Wash., has made $51 million in auto loans this year, which is an increase of $7 million compared with last year, Sandi Blakely, Gesa vice president of marketing, told the Tri-City Herald (Oct. 10). HAPO Community CU, Richland, Wash., told the Tri-City Herald that although the number of auto loans from credit unions and banks in the area declined by 300 in August compared with the year before, HAPO’s share of dealer-generated auto loans increased from 300 to 360 during the same period. The average loan size is $15,000, said Scott Mitchell, HAPO director of consumer lending. General Motors plans to launch a campaign, “Financing that Fits,” to show car buyers that there are credit unions and other lenders willing to do auto loans and leases, spokesman John McDonald, told Dow Jones (Oct. 15).
Other Resources

RSS





print
News Now LiveWire
Consumer spending is slumping #Market #Economy http://t.co/RI4HS68IuJ
13 hours ago
April is #NationalFinancialLiteracyMonth & @TheNCUA Chair Matz urges #creditunions to help members learn to manage/protect their finances.
14 hours ago
Fed. FI regulators' statmnts on compromised credentials/destructive malware #cybersecurity http://t.co/f4uTBDm1PU http://t.co/zP5Iw6VxZc
16 hours ago
Home prices rising faster than wages: @RealtyTrac #NewsNow #Market http://t.co/wa74mnw3Cu
17 hours ago
.@Nussle dropped by the @ACUMuseum recently. Read about his visit http://t.co/bYe8RRgYLP
18 hours ago