Credit unions to boost auto loans next year
[](http://buyersguide.carsoup.com/wp-content/uploads/2014/11/Auto-Loan-Credit-Union-hero.jpg)Credit unions see auto loans as a prime growth area in 2015.
A potential financing option for car buyers next year could be credit unions. Auto lending will be a prime area of growth at credit unions in 2015, Automotive News recently reported.
The auto industry publication quoted sources from credit bureau TransUnion, which says that credit unions have auto loans on the front burner for next year.
“By a wide margin, credit union executives see auto lending as a continued channel for primary growth going into 2015,” said Ezra Becker, vice president of research and consulting in TransUnion’s financial services business unit.
TransUnion conducted a survey among credit union executives in October. Nearly half of the respondents, or 46 percent, ranked auto loans as their No. 1 growth opportunity in the next 12 months, TransUnion said.
That was more than double the next-highest consumer loan category, mortgages, at 22 percent.
You can read Automotive News’ coverage here:
