Credit unions have auto loans on the front burner for next year, credit bureau TransUnion says.
“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 last month and announced the results at a credit union conference in Las Vegas this week. 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. The survey drew 142 respondents, Becker told Automotive News during a conference call on Tuesday.