1Q Consumer Borrower Trends Show Dynamic Changes

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First-quarter 2021 U.S. consumer finance and lending trends were released this week by TransUnion and Experian, giving credit unions insight into where household credit scores and borrowing have traversed — and possibly where they are going in the second-half of this year.

(Register for the 2021 “Your Economy—Your Credit Union” virtual conference on Tuesday, July 20th!)

You can view TransUnion’s "1Q Industry Insights Report" presentation slides from this week’s webinar (presented by Dan Simmons, director of financial services consulting, and Chris Huszar, senior manager of financial services consulting). From a U.S. perspective, it includes:

  • The latest consumer credit market overview, broken down by borrower demographics, and other factors.
  • The COVID-19 pandemic’s historical and current impact on the economy, as well as what the rest of this year may hold.
  • Credit card trends.
  • Mortgage trends (several types).
  • Unsecured personal loan trends.
  • Automobile financing trends (car, truck, CUV and SUV).

Also, you can access Experian's "1Q State of the Automotive Finance Market" presentation slides from this week’s webinar (presented by Melinda Zabritski, senior director of automotive financial solutions). From a U.S. perspective, it includes:

  • Overall loan origination trends.
  • Quarterly spotlight with a deeper dive.
  • Breakdown of new versus used loans/financing and leasing.
  • Lending portfolio balances and delinquency.
  • Other trends broken down by super prime, prime, non-prime, sub-prime and deep sub-prime borrowers; new versus used and leasing by geography; credit/lending scores; changes over time; and differences between credit unions, banks, dealer captive financing, and other lenders.

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