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
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...
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...
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...
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
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
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
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
CUNA Senior Economist Steve Rick The unthinkable has become routine, Credit Union National Association Senior Economist Steve Rick maintains during a Credit Union Magazine Webinar . Such events have a major impact on the economy and credit unions, he says, namely: The events of Sept. 11; The financial meltdown on... READ MORE
Member Auto Sales has logged record sales since June, selling more than 150 vehicles in June, July, and August—due largely to the benefits the company offers consumers in the pre-owned market. Member Auto Sales is a Houston-based, credit union-owned car sales outlet developed to help credit unions decrease loan losses... READ MORE