Credit unions are unique in the financial world. Rarely do you find a financial institution that clearly and emphatically says it is not working for a profit.
Credit unions smashed through a previous record in the first-quarter 2012 when they originated 8% of all mortgages made in the U.S. Now there are signs that their success represents more of a sustainable trend than a mere statistical anomaly.
For the first time ever, credit unions have originated more than 8% of U.S. mortgages originated in any given three month period, according to an analyst with Callahan and Associates.
President Obama circumvented Senate Republicans and made a recess appointment of Richard Cordray to run the Consumer Financial Protection Bureau. In making the appointment he explained that we “shouldn’t be weakening oversight and accountability, we should be strengthening it–especially when it comes to looking out for families."