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September NCUA Report Highlights Indirect Auto and Student Loans
Monday, September 22, 2014 6:10 AM

The September 2014 NCUA Report is now available online. Included in the lineup of articles:

  • Want to Reduce Risk at Your Credit Union? Start with Internal Controls
  • School Partnerships Can Benefit Students and Credit Unions
  • Be Prepared: Develop a Strong Business Continuity Plan
  • Loans Grow in All Categories, Highest Year-over-Year Growth Since 2006
  • McWatters Takes Oath, Joins NCUA Board

The front page of this issue includes a summary of the Office of Examination and Insurance report on the dangers of indirect auto lending. The article cites a rise in automobile sales and subsequent indirect automobile lending. Significantly, examiners are now finding that many credit unions have reached their concentration limits on indirect auto loans. The article includes the warning signs that examiners should look for when reviewing a credit union's indirect lending program.

Also in this issue, Chairman Debbie Matz discusses credit unions helping students go back to school—specifically, higher education—and best practices. She says, "Private student lending is one of the fastest-growing products among credit unions."

Matz adds that student lending is an opportunity for credit unions to establish long-term relationships with consumers by providing affordable loans at the beginning of young adults' financial lives. She adds, "It is also an opportunity, when managed well, to diversify credit unions' loan portfolios."