Lending

Five lending leaders

January 14, 2010
Through November 2009, credit union loans outstanding increased an anemic 1.5%, according to the Credit Union National Association’s (CUNA) economics and statistics department . That’s down from 6.8% for the same period in 2008—and the smallest increase since World War II, when credit union loans outstanding fell from $216 million... READ MORE

Compliance Q&A: OFAC

January 12, 2010
By Valerie Moss Q Must a credit union set up individual accounts for each Office of Foreign Assets Control (OFAC)-blocked party, or can it set up one account to house funds from all blocked accounts? Next : The answer   A OFAC allows a credit union to choose either method.... READ MORE

Senate Introduces CU Biz Lending Bill

December 22, 2009
U.S. Senator Mark Udall (D-Colo.) and a bipartisan group of his colleagues introduced a bill to spur small business growth and create jobs by increasing access to loans from credit unions. The Small Business Lending Enhancement Act of 2009 was co-sponsored by Senators Charles Schumer (D-N.Y.), Joseph Lieberman (I-Conn.), Olympia... READ MORE

Business Lending Rx

December 21, 2009
Underwriting and monitoring tools ensure a healthy business loan portfolio. When it comes to providing business capital in a tight economy, credit unions are like the kid who finally gets to sit at the big table at Thanksgiving. That’s great, except the others at the table—banks and other... READ MORE

Watch for Cracks in Your Business Loan Portfolio

December 21, 2009
Make sure problems in the commercial real estate market don’t stress your CU’s portfolio. The U.S. commercial real estate market has been in a three-year freefall. Experts say the market will finally hit bottom this year. And when it does, market values will be 40% to 50% below... READ MORE

Lending Challenges Galore

December 21, 2009
The Great Recession might be technically over, but lending is still tepid at CUs. Chastened by the economic downturn, once spend- and borrow-happy consumers have closed their wallets and upped their savings rates—a trend that’s likely to continue, according to 
Credit Union National Association economists. “That’s one among... READ MORE

DealerTrack Now Has 800 Financing Sources

December 15, 2009
DealerTrack Inc. , a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, announced that the number of active financing sources connected to the DealerTrack network  has reached 800. "We are pleased to reach this milestone of 800 connected financing sources—significantly more than anyone else in... READ MORE

Compliance Q&A: Serving Servicemembers

December 15, 2009
By Valerie Moss Q What must a servicemember do to receive the 6% interest rate required by the Servicemembers Civil Relief Act  (SCRA)?   A In order to apply for the 6% interest rate, the SCRA requires the servicemember to provide the credit union with a written notice and a... READ MORE

Keep a close eye on your business loan portfolio

December 15, 2009
As banks continue to tighten lending standards, many small business owners are turning to credit unions for business loans and other services. As a result, many credit unions have seen strong growth in their business-loan portfolios, according to “Strategies for Monitoring Credit Union Member Business Loans During a Recession,” a... READ MORE

Compliance Q&A: Unlawful Internet Gambling Enforcement Act

November 30, 2009
By Valerie Moss Q How can a credit union comply with Unlawful Internet Gambling Enforcement Act regulations?   A For payment systems (other than card systems), credit unions that are covered by the regulations must have written policies and procedures in place that demonstrate they are performing risk-based due diligence... READ MORE
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