Auto Lending Articles

Credit Union Auto Lending Revs-Up

Credit Union Auto Lending Revs-Up

Credit unions have been gaining auto lending market share for a few years, and 2017 not only continued this trend but proved to be an especially good year. Credit unions market strength is reinforced by the 11.3% year-over-year auto loan growth they experienced in 2017, expanding their market share in both new and used car…

6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition

6 Questions Every Credit Union Must Ask When Assessing Asset Recovery & Disposition

Asset recovery and disposition is something few credit union executives enjoy talking about. Still, compliant recovery and disposition processes that perform well against industry benchmarks are a key component of solid auto loan portfolio performance. To assess how well your recovery and disposition processes are performing, there are six key questions every credit union executive…

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

Leveraging a Digital Lending System to Help Drive Indirect Auto Loans

CU Direct recently partnered with Visions Federal Credit Union on a case study that took a close look at the credit union’s success in the indirect lending marketplace, and the steps the credit union took to overcome the challenges it had in growing loans through the indirect channel. Visions’ indirect lending program had been a…

Generating Loans By the Generation

Generating Loans By the Generation

Does your credit union have the right loan products — and the right marketing message — to appeal to each generation? Regardless of their generation—baby boomer, Gen X or millennial—your members are borrowing and buying much more than previous generations. To craft relevant messaging, credit unions need to understand the behaviors across each generation. Baby…

Credit Unions Continue to Make Real Gains in the Auto Lending Marketplace, What’s Next?

Credit Unions Continue to Make Real Gains in the Auto Lending Marketplace, What’s Next?

Published in Auto Lending

Credit unions continued to make significant advances in the auto lending marketplace in 2017. A testament to credit unions’ strong performance in auto lending, the 1,100-plus credit unions on CU Direct’s CUDL platform topped all other lenders in 2017, funding 1.8 million loans, and becoming the nation’s number one lender as an aggregate. CUDL credit…

The Auto Lending Road Is Wide Open For Credit Unions

The Auto Lending Road Is Wide Open For Credit Unions

Published in Auto Lending

We’ve seen the headlines reporting that auto sales are in decline and are expected to recede over the next couple of years.  At first glance, the news may seem unsettling.  As of July 31, new auto sales had fallen 7% from a year earlier to 1.42 million vehicles, according to Autodata Corp.  But, is there…

Driving the Car Buying Revolution

Driving the Car Buying Revolution

When it comes to digital retail, buying a new car has lagged behind other products and services that can be purchased entirely online. Many would agree that the auto industry as a whole is behind the digital curve when it comes to the car buyer’s experience. However, that is rapidly changing. According to a Google/comScore…

In Winning the Auto Lending Race, What’s Next?

In Winning the Auto Lending Race, What’s Next?

You may have heard the expression, “to the victor go the spoils.” Interestingly, this phrase did not originate in some centuries-old prose or novel. As eloquent as it seems, it was actually believed to have been spoken by Senator William L Marcy in 1831, as he described the benefits that come upon winning the presidential…

A Word on Meal Prep and Data Warehousing

A Word on Meal Prep and Data Warehousing

If you are a fan of social media networking, as I am, there is no doubt that you have at least a handful of individuals in your network who like to share pictures of their healthy “meal prep” every week. Meal prepping is the process of preparing one’s meals for the coming week and organizing…

New White Paper Explores The Dealer Value Proposition, Reveals Opportunities to Increase Relevance in Credit Union Indirect Auto Lending

New White Paper Explores The Dealer Value Proposition, Reveals Opportunities to Increase Relevance in Credit Union Indirect Auto Lending

Published in Auto Lending

The next few years will bring notable changes to the auto finance industry. First, shrinking new car sales will make the auto retail market even more competitive, resulting in front-end grosses decreasing further. Dealers will intially react by implementing cost controls and reducing expenses.  Then, they’ll reexamine other parts of their business to find new…