Credit unions are seeing more of their members turn to them for loans, according to a study by TransUnion.
The automotive industry's rebound during the past year has been a huge boon for credit unions across the country, but many may be limiting their membership growth and income by failing to offer lease products that consumers desire.
The surge in auto sales that began near the tail end of last year continues to expand and invigorate the U.S. economy.
Credit unions have always been a popular choice for home loans, but the past year saw even more impressive growth than usual.
The past year was positive for credit unions, and the sector saw significant membership growth in certain parts of the country.
The phrase "subprime loan" carries a negative connotation for many lenders, but recent study results show that these alternative loans are actually a key to success for many credit unions.
The subprime lending market might be frightening to some credit unions, but it represents a huge growth opportunity in the coming year.
Consumer delinquency rates on auto, home improvement and personal loans all fell in the second quarter of 2014, according to research from the American Bankers Association.
People join credit unions for the benefits they offer over traditional banks, whether that means a free checking account, competitive loan products or even a better company culture.
Car sales are increasing as the economy improves, and credit unions can get in on the auto loan game.