Tag: lending revenue

Last month, I had a conversation with a credit union client where she expressed relief that 2024 was finally coming to an end. Truly, it’s been a tumultuous year for many financial sectors. While NCUA Q2 Quarterly Data Summary showed an increase in total assets, loans outstanding climbed and delinquency rates were up 21 basis points from 2023. Specific to auto loans, new files declined 4.3 percent and delinquency rates of existing loans increased 16 basis points. Experian put a finer point on the situation in their State of the Automotive Finance Market report stating that credit unions lost their lead in used car lending in the first quarter to banks, and credit unions’ share of new car financing also dwindled, falling further behind banks and captive lenders.