CHICAGO–With the new year nearly here (and 2018 new model cars already in showrooms), CUToday.info has partnered with CU Direct on a less-than-one-minute survey about credit unions’ plans for auto lending next year.
The survey is in follow up to CUDirect’s latest State of the Credit Union Auto Lending Market webinar, which included a forecast for what’s ahead. CUToday.info has coverage of the webinar here.
During the webinar, it was noted credit union’s market share increased to 26% in Q3 from 23%. Bank market share was down by more than 5.5%, bringing banks’ piece of the overall business to 37%.
CU Direct’s third quarter State of the Credit Union Auto Lending Market report shared a story commonly heard this year—that credit unions are continuing to benefit from the banks’ retreat and from CUs’ maturing networks.
“This is a good time for credit unions to review strategies to ensure continued growth and strong presence,” said Michael Cochrum, VP of analytics and advisory services.
The new online survey, which can be found here, includes a quick 10 questions that ask about CU experiences in auto lending in 2017, as well as their thoughts on what’s ahead. Please take a moment and let CUToday.info and CU Direct here from you.