Lending

As some credit unions continue to be the lifeline for microenterprises seeking out loans for less than $2,500, a number of challenges to meet their needs may still exist.

The $12 million, 2,350-member Greater Abbeville Federal Credit Union in Abbeville, S.C., is reaching out to its members and nonmembers hit by the closing of the Mohawk Industries textile plant in nearby Calhoun Falls, S.C.

Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.

When it comes to auto loan portfolio acquisitions, some might see credit unions as the equivalent of little fish being circled in waters full of sharksbanks and other lenders.

Defendants in Pennsylvania case accused of fraudulently obtaining business loans in Indiana, California, Illinois.

U.S. Reps. Steve Stivers (R-Ohio) and Steve Chabot (R-Ohio) paid visits to credit unions this month to reiterate their support for raising the MBL cap.