Subprime auto loans could provide big growth for credit unions
The subprime lending market might be frightening to some credit unions, but it represents a huge growth opportunity in the coming year.
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The subprime lending market might be frightening to some credit unions, but it represents a huge growth opportunity in the coming year.
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 past year was positive for credit unions, and the sector saw significant membership growth in certain parts of the country.
Credit unions have always been a popular choice for home loans, but the past year saw even more impressive growth than usual.
The surge in auto sales that began near the tail end of last year continues to expand and invigorate the U.S. economy.
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.
Credit unions are seeing more of their members turn to them for loans, according to a study by TransUnion.