SAVANNAH, Ga. — As the case across the country, the housing market continues to be a source of concern for Georgia and credit unions are being urged to educate members more.


NCUA Region III Director Alonzo Swann told attendees this morning at Georgia Credit Union Affiliates' annual convention that the litany of exotic mortgages and subprime lending has not been a huge deal for Georgia, but elsewhere in the region, particularly in Florida, it has become an issue. Meanwhile, 2006 was probably the best year for NCUA's insurance fund with the regulator able to return a dividend last year.


Swann said other issues his office will continue to look at are liquidity, legal threats from banking groups, compliance issues, specialized lending, especially member business lending and sub-prime lending and pandemic preparation. Swann said helping small credit unions is also a priority as well as efficiency and due diligence with new products and services with credit unions throughout the region.

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