WASHINGTON — Credit unions declined to comment on the immediateeffect of the financial rescue plan signed into law on Fridayafternoon. But one attorney suggests that CUs look for alternativesources of capital and to Europe for new loan products.

Paul Schieber, an attorney with Blank Rome, said the programwill make it easier for credit unions to sell their loans on thesecondary market. But, he said, as no one knows what the secondarymarket is going to look like in a couple of months, he suggestedthat “smart credit unions” start looking for new sources of marketfunding such as the Federal Home Loan Banks.

Schieber suggested that credit unions look at European loanproducts for ideas. For example, he said, in Australia it is commonto tie an insurance policy to a mortgage.