KBRA Releases Research – Rise in Credit Union Auto Securitizations

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KBRA releases a report that examines how some credit unions are turning to the ABS market. Credit unions have traditionally sourced funding through member deposits, wholesale borrowings and, to a lesser extent, through loan-participation sales and alternative sources such as repurchase agreements and committed lines of credit. However, with pressure on credit unions’ balance sheets and liquidity concerns due to higher interest rates, some of these not-for-profit financial institutions are turning to the ABS market for sources of liquidity, using securitization to bolster their liquidity profile while diversifying funding options. Credit unions have issued 12 auto loan ABS transactions totaling $3.6 billion since 2019, with the majority pricing in 2023 ($2 billion in seven transactions).

Click here to view the report.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1004240

Detalles de contacto

Brian Ford, Head of Structured Finance Research
+1 646-731-2329
brian.ford@kbra.com

Brajean Ramos, Senior Analyst
+1 646-731-2417
brajean.ramos@kbra.com

Kaci Emrich, Analyst
+1 646-731-1216
kaci.emrich@kbra.com

Media

Adam Tempkin, Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Business Development

Rosemary Kelley, Senior Managing Director, Head of Structured Finance and Project Finance
+1 646-731-2337
rosemary.kelley@kbra.com