-

KBRA Releases Research – Rise in Credit Union Auto Securitizations

NEW YORK--(BUSINESS WIRE)--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.

Related Publications

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

Contacts

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

Kroll Bond Rating Agency, LLC

Details
Headquarters: New York City, New York
CEO: Jim Nadler
Employees: 400+
Organization: PRI

Release Versions

Contacts

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

Social Media Profiles
More News From Kroll Bond Rating Agency, LLC

KBRA Assigns Preliminary Ratings to GS Mortgage-Backed Securities Trust 2026-NQM1 (GSMBS 2026-NQM1)

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 10 classes of mortgage-backed certificates from GS Mortgage-Backed Securities Trust 2026-NQM1 (GSMBS 2026-NQM1). GS Mortgage-Backed Securities Trust 2026-NQM1 (GSMBS 2026-NQM1), is a $410.6 million RMBS transaction sponsored by Goldman Sachs Mortgage Company (Goldman Sachs). The transaction is collateralized by a pool of 1,076 fixed-rate residential mortgages (FRM; 100.0%), and includes a meaningful concentration of collateral that...

KBRA Assigns AA Rating to Chicago Transit Authority Sales Tax Bonds Series 2026A (Second Lien) and 2026B (First Lien); Outlook Positive

NEW YORK--(BUSINESS WIRE)--KBRA assigns a long-term rating of AA to the Chicago Transit Authority, IL's (CTA) Second Lien Sales Tax Receipts Revenue Project and Refunding Bonds, Series 2026A and Sales Tax Receipts Revenue Refunding Bonds, Series 2026B. Concurrently, KBRA affirms the AA rating on the CTA's outstanding Sales Tax Receipts Revenue Bonds (First Lien) and Second Lien Sales Tax Receipts Revenue Bonds. The Outlook for both liens remains Positive. Proceeds of the Series 2026A Bonds will...

KBRA Assigns Preliminary Ratings to BBCMS 2026-5C40

NEW YORK--(BUSINESS WIRE)--KBRA is pleased to announce the assignment of preliminary ratings to 13 classes of BBCMS 2026-5C40, a $834.4 million CMBS conduit transaction collateralized by 44 commercial mortgage loans secured by 59 properties. The collateral properties are located throughout 25 MSAs, of which the three largest are Los Angeles (13.7%), New York (12.9%) and Las Vegas (9.0%). The pool has exposure to all major property types, with five types representing more than 10.0% of the pool...
Back to Newsroom