Lending

Two weeks after appearing before a House subcommitee to endorse raising the member business lending cap, CEO Gary Grinnell will be back to testify at a hearing on SBA loan programs.

Its no surprise that lending has been in the doldrums for many CUs the past few years but there could be an unexpected jolt triggered by fervor surrounding Bank Transfer Day Nov. 5.

Commercial loans from two credit unions will provide the financing for the construction of a new hotel development that will eventually employ hundreds of residents of Pensacola, Fla., according to one of the credit unions that made the loans.

Calling it a net plus for the consumers and the housing market, Affinity FCU President/CEO John Fenton urged lawmakers to ensure that any changes in the housing finance system dont jeopardize the existence of the 30-year mortgage.

As global cash flow has become more of a necessity than an option, the majority of financial institutions are now performing some type of combined ratio analysis. The issue lies in the fact that there are several methods of global cash flow analysis being used. And some lead to erroneous...

For what may be the first time ever, a credit union has become the biggest source of housing finance for a major metropolitan area in the U.S.