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The Future of Autonomous Lending is Now

The Future of Autonomous Lending is Now

I recently had the opportunity to research some of the emerging transportation technologies that will affect our lives over the next ten to fifteen years. Alternative fuels, autonomous vehicles and the ride sharing economy have been discussed in media for several years, and today we are beginning to experience how some of these technologies are…

Millennials and Auto Buying: What Really Matters to CUs

Millennials and Auto Buying: What Really Matters to CUs

Published in Auto Lending

There has been a lot of discussion of late on the subject of millennials, especially when it comes to attitudes regarding transportation choices, and specifically vehicle ownership. At the recent CUNA Lending Council Conference, there was an entire session devoted to millennials, with a panel of appropriately aged individuals providing anecdotal testimony to the findings…

Why is Credit Union Auto Loan Growth Up?

Why is Credit Union Auto Loan Growth Up?

I was recently asked during an interview what I thought credit unions were doing differently to account for credit union auto loan growth being on the rise. The question kind of caught me off guard and I didn’t have a ready answer. I do know that credit unions are becoming more data savvy — and I know…

Shifting into Second: The Future of Driving Auto Loans (Part 2)

Shifting into Second: The Future of Driving Auto Loans (Part 2)

The notion of a buying service has been around for some time, generally in the form of an auto broker who negotiates a price on the consumer’s behalf, in exchange for a broker fee either built into the purchase price of the vehicle or charged separately for the service.  While the traditional broker model still…

Shifting into Second: The Future of Driving Auto Loans (Part 1)

Shifting into Second: The Future of Driving Auto Loans (Part 1)

For the auto industry, the Road to Purchase has shifted radically. Today, most shoppers take several months to go from the initial decision to buy a car, to the ultimate action of buying one, taking full advantage of research tools and other resources throughout their digital journey, much more heavily than ever seen in the…

Auto Buying Demand Improves, Hits Pre-Recession Levels

Auto Buying Demand Improves, Hits Pre-Recession Levels

By Jose Torres, Senior Business Analyst, CU Direct New and used November YTD auto sales figures are 8.3% and 3.6%, respectively, above 2012 levels, and if these trend holds up, the auto industry is on target to record 57.7 million units in sales in 2013; a level not seen since 2007. New and used vehicle…

Growth of Mobile – A Strong Play for CUs

By Cindy Bach, Sr. Product Analyst, Product Management, CU Direct “It’s not what you look at that matters, it’s what you see.” Henry David Thoreau Study after study reveals that the consumer adoption rate of mobile devices has grown exponentially over the last few years. Mirroring this trend, members are increasingly demanding mobile services to…