For what may be the first time ever, a credit union has become the biggest source of housing finance for a major metropolitan area in the U.S.
It’s no surprise that lending has been in the doldrums for many CUs the past few years but there could be an unexpected jolt triggered by fervor surrounding Bank Transfer Day Nov. 5.
More home buyers in Madison, Wis., area chose the credit union to finance home loans than any other lender in 2010.
Report says credit union industry’s health got slightly better last year but there is still much room for improvement.
Claiming it is being made a scapegoat, a Hollywood, Calif. credit union, the $83 million Musicians’ Interguild, is wrangling with regulators this week over how to treat modifications on real estate loans written as interest-only and now deemed delinquent on Call Reports.
Gary Jester in, Diane Johnson out at conserved Oregon CU.
If Congress allows credit unions to make more business loans, the industry can expect even more supervision from the NCUA.
Credit unions have been making headway in loan origination growth year to date even though the loans coming off the books are moving faster in general.
The pace of small business growth has been unprecedented over the past few years. Small businesses employ nearly half of the U.S. private payroll, accounting for nearly two-thirds of job growth since 1993.
PORTLAND, Ore. — When the business lending slump was at its peak a few years ago, entrepreneurs who were working with Redwood Credit Union and Orange County’s Credit Union were likely immune to the collapse.