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
iOrlando Sentineli reports CUs pursuit of auto loans
ORLANDO, Fla. (8/3/11)--Financing for vehicle loans is rebounding, and credit unions are among the financial institutions seeking loans, according to a July 31 Orlando Sentinel article. Credit unions are becoming more aggressive in pursuing loans outside of their existing memberships, according to the article. Several credit unions have reached out and asked to be considered as a finance source, said Chad Rogers, general manager of Classic Mazda and Holler Hyundai in Orlando. The article also says “credit unions should not be overlooked” and cites a Datatrac survey from March that said the average interest rate on a 60-month new car loan from U.S. credit unions was 4.12% compared to 5.46% from banks. Overall, loan approval rates have increased since the height of financial crisis. In June, the approval rate for new auto loans was 74.7%, up from 46.3% in December 2008. To read the article, use the link.
Other Resources

RSS





print
News Now LiveWire
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
46 minutes ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
1 hour ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
1 hour ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
1 hour ago
.@federalreserve Gov. Tarullo Wed. became 22nd chair of FFIEC for 2-yr term; succeeds Comptroller of the Currency Curry. 1of2
1 hour ago