Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Since the start of the credit crisis, banks and thrifts have lost billions of dollars because of bad loans and problematic investments. The mortgage market turmoil has also contributed to considerable volatility on Wall Street and filtered into other economic sectors, from student loans to municipal borrowing. Most recently, this turbulence has resulted in a government takeover of Fannie Mae and Freddie Mac.

In contrast to most other participants in the financial marketplace, credit unions have provided an important beacon of light and stability during the last year. In fact, credit union mortgage delinquencies stood at just 0.7% at the end of the first quarter, well below the national averages of other lenders. The credit union movement can attribute this success to its cooperative philosophy, which generally has and continues to produce sound lending practices and secure financial institutions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.