Lending

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

Special Report: U.S. Economic Outlook

November 20, 2009
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 Reports Record Performance

November 20, 2009
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

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