CUBG's Larry Middleman says, "This has been one of the most amazing 10-year cycles in history."
Chelsea, Mass., credit union touts 38% growth in loan portfolio in past 18 months.
More than 800 credit unions have signed up as low-income credit unions in the year since the NCUA launched its ongoing LICU initiative.
This preview from next week's print edition looks at what credit union lobbyists win, or don't win, on Capitol Hill.
Philadelphia CUSO said through June 30, it closed 169 loans for $39.5 million for its 12 owner credit unions in Pennsylvania and Delaware.
Almost a year to the date since Navy Federal Credit Union launched its commercial participation loan program, the country’s largest cooperative said it is ready for changes mandated by an NCUA rule even after the regulator recently extended a compliance deadline.
The lending environment is undergoing an evolution. The continual entry of new players—especially on the Internet—has sharpened competitive knives that are cutting into credit union income. Business loans are an avenue for lenders to travel, since non-interest income is becoming so critical to survival.
Over the past few years, credit unions and finance companies have become increasingly important as suppliers of credit to small businesses.
This preview from our July 17 print edition takes a look at the NCUA's new loan participation rule.
Rule finalized in June now to kick in on Sept. 23 instead of July 25, with guidance promised by then.