Monday, July 27, 2009

Repos, fewer car loans sign of the times

TUMWATER, Wash. (7/27/09)--Credit unions in Washington experiencing a decline in auto loans and an uptick in repossessed vehicles are attributing the trend to the recession and the slow economy.

In addition to increasing bad car loans, total credit union car loans are down statewide, David Bennett, director of public relations for the Washington Credit Union League, told local newspapers (The Olympian via The News July 24).

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