Loan Zone: An analytics-based approach to risk-based auto lending

first_img continue reading » Credit unions have made notable gains in the auto loan market in recent years, driven in part by the lower rates they have offered. Going forward, a new approach to setting rates—an analytics-based approach—should give credit unions new power to stay competitive when adjusting in response to changes in federal rates.CUs’ Recent Market GainsCredit union have expanded the number of auto loans they hold in the market. According to NCUA 5300 call report data compiled by CU Rise Analytics, of 108 million auto loans in the market as of the second quarter of 2017, 23 million (21.29 percent) were funded by credit unions. This increased to 24 million by Q2 2018. Additionally, in 2017, the number of CU auto loans grew 9 percent, while for the overall auto loan market, the number of loans grew only 4.8 percent. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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