Jim Adamczyk can remember receiving an increase in calls from banks interested in FAIRWINDS Credit Union’s auto loan portfolio. That was as recent as 2010, said Adamczyk, executive vice president of lending, for the $1.7 billion cooperative in Orlando, Fla.
As some credit unions continue to be the lifeline for microenterprises seeking out loans for less than $2,500, a number of challenges to meet their needs may still exist.
In 2010, there were an estimated 3,400 credit unions engaged in multi-featured open-end lending.
Lending Insights director of lending warns of examiners finding risk in loan portfolios.