Auto outstandings at the nation’s five largest credit unions increased year over year, totaling $32.5 billion last year compared with $25.2 billion in 2017, according to Big Wheels Auto Finance Data 2019.
No. 1-ranked Navy Federal Credit Union notched a 9.1% increase last year in its auto portfolio, to $13.8 billion. Among the nation’s top 100 auto financiers, NFCU was ranked 21st. Meanwhile, originations increased by 9% to $7.9 billion in 2018.
In the No. 2 spot, San Antonio, Texas-based Security Service Federal Credit Union grew outstandings to $5 billion, compared with $4.7 billion the year prior. Moreover, originations increased 15.7% year over year, to $2.2 billion.
Meanwhile, Sacramento, Calif.-based Golden 1 Credit Union took third place, cultivating volume growth of 6.6% year over year — increasing its portfolio to $4.8 billion. Originations increased 4.1% to $2.5 billion.
America First Credit Union jumped in rankings to the No. 4 spot with a 21.6% increase in its portfolio, reaching $4.5 billion and surpassing Alaska USA Federal Credit Union, which fell to the No. 5 spot with 2.3% growth to $4.3 billion outstanding.Like This Post