Lending

Dealers chosen because of survey ratings from members and total auto loan production they generated for SCCU.

The lending environment is undergoing an evolution. The continual entry of new playersespecially on the Internethas sharpened competitive knives that are cutting into credit union income. Business loans are an avenue for lenders to travel, since non-interest income is becoming so critical to survival.

More than a year after co-parent Telesis Community Credit Unions financial woes pushed it into conservatorship, auto buying CUSO Autoland Inc. said it is looking forward to a fresh start.

By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.

Almost a year to the date since Navy Federal Credit Union launched its commercial participation loan program, the countrys largest cooperative said it is ready for changes mandated by an NCUA rule even after the regulator recently extended a compliance deadline.

BOSTON The Consumer Financial Protection Bureaus qualified mortgage rule that limits closing costs to 3% of the loan balance will have such a big impact on Midwestern credit unions, one Minnesota-based executive said hed lose money if he complied.