Maryland credit union CEO testifies on MBL bill to House panel on Thursday.
Regulatory updates, commercial lending, economic trends were on the agenda.
Now that the NCUA board has approved a proposal that would require all CUSOs to file financial reports directly with the regulator and the appropriate state supervisory authority, some CEOs of member business lending CUSOs have weighed on what the the changes may mean for their operations.
PCUA says member business lending up 24.4% over the past year.
Lenders need to be prepared for continual and often rapid shifts in the economy.
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.