Equifax Inc. has released an analysis highlighting new growth opportunities for credit unions within the auto financing industry, driven by changes in consumer behavior. While captive lenders associated with automakers continue to dominate the market, an increasing number of consumers are turning to credit unions for vehicle financing. This shift allows credit unions to distinguish themselves by offering personalized services, competitive interest rates, and flexible credit standards and repayment terms. The report emphasizes the potential benefits of utilizing alternative data, such as telecommunications and utilities payment history, to paint a more comprehensive picture of a consumer's financial history. This approach could make 8.4 million additional U.S. consumers eligible for credit scores, thus expanding access to credit. To balance opportunity with risk, credit unions are encouraged to use tools like Equifax's The Work Number® to verify applicants' income and employment instantly, thereby enhancing member experience and mitigating risk. The analysis also points out that Gen Z represents a promising growth segment, with 29% of their auto loans originating from credit unions. However, their shorter credit histories pose a risk, with 2.3% of their loans overdue. Equifax suggests that by leveraging alternative data and smarter lending tools, credit unions can expand their auto lending portfolios responsibly while maintaining strong relationships with their members.