NEW YORK — Credit unions are getting good publicity for what they didn't do–that is make predatory mortgage loans and contribute to the subprime debacle–and for what they ought to be doing to help Americans through what seems to be a growing economic crisis.
"It seems that every time a real opportunity for credit unions to jump into the consciousness of the mainstream press and capture the attention of millions of potential members we let it slip through our fingers," said Bob Dorsa, executive director of the American Credit Union Mortgage Association.
Dorsa cited a Feb. 14 story in the Wall Street Journal headlined, "Credit Unions Offer Lifeline on Mortgages," by reporter Julian Mincer, as proof that the time is nigh for those CUs that don't have a mortgage program to start one and for those that do to expand their portfolios.
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