Credit unions may have new loan opportunities during the pandemic as travelers look to purchase recreational vehicles as a self-isolating form of travel. RV sales have been accelerating in recent months as vacation plans are put on hold, and many are reluctant to book air travel.
According to an article in the Chicago Tribune, “Production began ramping up again this month at major RV manufacturers like Thor and Winnebago Industries, which suspended operations for several weeks during the pandemic. Dealers report strong demand for RV rentals and sales as would-be travelers look for options that minimize the risk of catching the virus.”
By reaching out to members to share the ability to finance RVs, credit unions may tap into a new opportunity. For additional information, read here.