CUNA Mutual Honors Credit Unions for Excellence in Lending

INDIAN WELLS, Calif. -- A fifth credit union, in a new category, joined four others in recently receiving CUNA Mutual Group's Excellence in Lending awards at the CUNA Lending Council's 12th annual conference.

In addition to the new Low/Modest Means award, winners were named in Consumer and Mortgage lending categories. CUNA Mutual Group President/CEO Jeff Post and Judy Tharp, vice president, Lending Solution Development, presented the awards to:

oLatino Community CU, Durham, N.C.--Consumer, less than $250 million in assets;

oSan Antonio FCU, San Antonio--Consumer, more than $250 million in assets;

oOhio University CU, Athens, Ohio--Mortgage, less than $250 million in assets;

oEnt FCU, Colorado Springs, Colo.--Mortgage, more than $250 million in assets; and

oBethex FCU, Bronx, N.Y.--Low/Modest Means category.

Among other innovative programs, the $42 million Latino Community CU was recognized for its CreditBuilder loan program, which allows members to establish a credit history and move on to other loan products. More than 2,500 members have received CreditBuilder loans with the average loan at $800.

The judges confirmed that the $1.9 billion San Antonio FCU continues to develop innovative lending programs to meet members' needs including its manufactured home loan program and an indirect vehicle lending program for SACU and other credit unions to help spread the cost of acquisition over a greater number of loans.

The judges were also impressed with $179 million Ohio University CU's programs to help those of modest means including the Ohio Housing Finance Agency Federal Home Loan Bank "Welcome Home" and CUNA's HLPR loan programs.

The $1.9 billion Ent FCU was recognized for its first-time homebuyer program and partnerships with the Colorado Housing and Finance Authority among other programs.

The $11 million Bethex FCU continues to serve low- to moderate-income families with its emergency loan program partnership and its "gypsy-cab" loan program for drivers in the Bronx area. The "freelance" drivers fulfill a void where licensed cabbies will not venture, according to the judges.

CUNA Mutual, with support and expertise from the CUNA Lending Council, established the Excellence in Lending Awards in 2000 to recognize credit unions that have implemented outstanding lending programs while demonstrating sound financial performance. The award provides an opportunity for credit unions to share best practices and ideas, build networks, and recognize and celebrate lending excellence. --msamaad@cutimes.com