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Take Advantage of the Boost in Auto Loans
Friday, February 20, 2015 6:50 AM

According to TransUnion, 2015 looks bright for credit unions and their auto loan volume. Results from a November survey show that auto loans are a top priority for credit union executives with 46 percent of respondents saying they see this area as a number-one growth opportunity in the next 12 months.

One reason for this prevailing focus may be the rise in new vehicle sales. As of October, the auto industry had sold 13.7 million units in 2014—a 6 percent increase over the same time period in 2013.

The forecast for 2015 is even rosier thanks to the economy, interest rates, and affordable gas. Projections from the National Automobile Dealers Association (NADA) show a more than 3 percent boost in new vehicle sales in 2015. NADA foresees a total of 17 million units in 2015, the most since 2005 and about half a million more than in 2014.

Credit unions can take advantage of a very robust auto sales market through the Credit Union Member Discount program from GM. Not only do your members get exclusive pricing on new eligible vehicles from Chevrolet, Buick, and GMC, your credit union gets real-time auto loan leads each time a member requests a GM authorization number. These real-time leads are great opportunities to reach out to members to secure financing at the credit union.

To learn more about the Credit Union Member Discounts from GM and real-time auto loan leads visit Love My Credit Union Rewards.

Love My Credit Union Rewards is an endorsed business partner of Credit Union Resources, Inc. and serves the credit union industry nationwide offering auto discount programs, member reward programs and discounted mobile phone services. Learn more at www.lovemycurewards.com.