US Credit Union Auto Loans Top $400B in Q3
Total auto loans at U.S. credit unions increased for the sixth consecutive quarter and delinquencies continued dropping.
The quarterly sequential increases, which started in 2020, have been setting new highs each period, and total credit union auto loans stood at $402.12 billion as of Sept. 30, marking the first time on record the loans topped $400 billion at the end of a quarter, according to S&P Global Market Intelligence data.
On a year-over-year basis, auto loans rose 5.1% with used vehicle loans increasing 8.3% during the third quarter while new auto loans declined 0.3% year over year.
« Return to "Latest News" Go to main navigation