WASHINGTON – Think refinancing is only for mortgage loans, think again. Consumers and credit union members are not only refinancing their auto loans, lending institutions are actively promoting them to borrowers.

CUNA Senior Vice President and Chief Economist Bill Hampel admitted even he was surprised to learn just how actively some financials are promoting auto refinancings. "You just have to go on the Internet and do a search under `auto refinancing' to see how much comes up," said Hampel.

CUNA doesn't track credit union refinancings – auto or mortgage – so there's no way to statistically measure whether there's been an increase or decrease in auto refinancings in recent months. But Hampel said based on conversations he's had with some credit unions, "it's safe to assume they are already involved with auto refinancing or are actively seeking opportunities to do so."