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.
During his June 27 confirmation hearing, NCUA Board nominee Richard Metsger dodged what might have been his most controversial question. Is raising the member business lending cap a good idea?
For some credit unions and CUSOs, the newly approved changes to the loan participation rule are apt to leave a bittersweet residue within their business loan portfolios.
Randy Udall, brother of Colorado Sen. Mark Udall, did not return from Wyoming mountain backpacking trip.
Reno credit union recently became first new SBA lender in northern Nevada in nine years.
Personnel moves follow growth doubling in 2012 and continuing in 2013 for Michigan Business Connection LLC.