For the first time in six years, auto-loan portfolios have shown substantial growth. These spending practices have jumped from 2.3% to 5% according to the September Credit Union Trends Report from CUNA Mutual Group. For the first time in five years, new-vehicle portfolios began to show growth as well. Data on credit union car loans for new vehicles has indicated that they have increased. However, they remain at $30.1 billion under their 2007 peak. Used-car portfolios have increased to just over $7 billion.
Car loans have been shown to make up almost 30% of all loans within credit unions. It is still uncertain if this change is temporary or if it will sustain provided there is no collapse in the economy.