A professor of law at Brooklyn Law School argued that credit unions should back the privatization of Fannie Mae and Freddie Mac, provided they can also ensure they get the same access to a privatized secondary mortgage market that banks would get.
When Congress returns, credit unions can expect fewer consumer bills, tweaking the financial overhaul bill and new leaders of House and Senate committees that oversee credit unions.
Despite a $5 billion retained members' deficit, Western Corporate FCU posted the corporate system's second highest term deposit rates Aug. 9, offering 0.74% for a two-year certificate.
NEW ORLEANS -- If a $1 billion credit union used a series of advances to fund a $100 million investment in new 15-year mortgage pools, it could add as much as $600,000 to interest income in the first year.
New Orleans -- If a $1 billion credit union borrowed $100 million in strategically laddered advances, and invested those funds in low-risk mortgage pools, it could add as much as $600,000 to interest income.
Despite recommendations by CUNA and others that call for significant corporate consolidation, three executives of small corporates said they are not in merger discussions and are unlikely to merge.
CUNA and NAFCU wrote lawmakers this week that the language in the financial overhaul bill that would limit the Federal Home Loan Bank Board to a 25% concentration limit would limit their ability to meet their obligations to their members.