Lending

Coming Soon: CARD Act Fee, Rate Terms

March 30, 2010
The Federal Reserve Board has proposed regulations to implement two provisions of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act. The comment period concludes April 14. The Fed should finalize these regs early this summer, with an effective date of Aug. 22, 2010, required by law. The first provision... READ MORE

The Face of the Newly Credit Impaired

March 30, 2010
Serving the newly credit impaired means having to discover each member’s story. READ MORE

Credit card success strategies

March 23, 2010
Too often, credit unions fall into a “me, too” strategy for their credit card offerings instead of developing strategic plans for them. Many credit unions believe they must compete head-to-head with national issuers, offering 0% introductory pricing and other measures. But they fail to emphasize their true difference: the fact... READ MORE

CUs Take MBL Message to Capitol Hill

March 18, 2010
Credit unions called upon legislators during visits to Capitol Hill to support legislation raising the member business lending (MBL) cap from 12.25% to 25% of assets—and found some allies during the process. The visits took place during the Credit Union National Association’s (CUNA) Governmental Affairs Conference. When a delegation of... READ MORE

Five Credit Card Predictions for 2010

March 17, 2010
The credit card industry went through a tremendous amount of change in 2009—and there’s more change to come, fueled by the national card issuers. Bill Hardekopf, CEO of LowCards.com , makes these predictions for the credit card industry in 2010: 1. More cards with annual fees About 20% of credit... READ MORE

Rates & Ratios: CU Loans Fall in February

March 04, 2010
Credit union loans outstanding decreased 0.6% during February 2010, down from a 0.5% increase during January 2010, according to the Credit Union National Association’s economics and statistics department . Adjustable-rate mortgages led loan growth during February, increasing 0.1%. On the decline were unsecured personal loans and credit card loans (2%),... READ MORE

Where Is the Puck Going?

March 03, 2010
Bill Vogeney: Streamline lending to top members and consider an "old school" approach to serving those with less than stellar credit. By Bill Vogeney Years ago, a reporter asked hockey great Wayne Gretzky why he was so successful. His reply: “I skate to where the puck is going, not where... READ MORE

CUs 'Critical' to Business Growth

February 23, 2010
U.S. Small Business Administrator Karen Mills on Tuesday told GAC attendees that credit unions are "critical" to growing businesses and creating new jobs, adding that her "impression" is "credit unions really know what is going on in their communities." Mills also commended credit unions for their shared goal of supporting... READ MORE

Good Chance to Lift MBL Cap

February 23, 2010
Businesses’ need for capital will drive removal of restrictions. It would be a big mistake to pass legislation establishing a separate consumer regulatory agency, Rep. Ed Royce (R-Calif.) said Tuesday. In fact, he believes doing so could create conditions for another economic regulatory disaster. “We go down a dangerous path... READ MORE

Hyland: Focus on the future

February 23, 2010
Hyland: Don't wait to seize the future. Entering the stage to the strains of R.E.M.’s “It’s the End of the World as We Know it,” NCUA Vice Chair Gigi Hyland told General Session attendees to seize the future—pronto. “It’s the end of the world as we know it and it’s... READ MORE

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