Auto lending

Taking a data-driven approach to marketing not only helped pump up originations -- it also helped save members money.

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders.

Huntington executives are surprised that chargeoffs are still so low and say they're prepared for things to get worse, yet they remain aggressive in auto and other categories. The juxtaposition is a sign of the times for lenders.

The 25 new CUs represent approximately 300,000 additional credit union members who will have access to the car-buying platform's services.

Total loans fell 1.6% at the North Carolina-based regional bank, which has been scaling back in key segments such as residential mortgages and auto. Wider margins offset that reduction, but earnings were flat and revenue growth small.

CU Journal's annual awards recognize new innovations that have demonstrated concrete results, giving readers a host of great ideas to use.

At 1.56%, the delinquency rate on consumer loans remains well below historic averages, the American Bankers Association said Thursday.

In light of the recent disbursement of nearly $40 million in grants to credit unions from The Treasury Department’s Community Development Financial Institutions Fund, Credit Union Journal surveyed some credit unions which have received CDFI grants in the past to find out how these funds are being used.

Chemical Financial and Fidelity Southern are the latest banks to curtail auto lending, blaming trends in auto sales and overheated competition.

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average.