Lending

Poor decisions by management caused the failure of Ensign FCU and Clearstar Financial CU, which cost the NCUSIF $42 million, according to reports by the NCUA's Office of Inspector General.

Members continue to turn to credit unions for mortgage and refinance opportunities as evident at myCUmortgage.

Credit Union Student Choice has added three more credit unions to its client base, all in the billion dollar asset range.

Citing changes in some long established economic patterns and the strengths of credit union cooperation, TMG Financial Services launched a finance CUSO that will help other CUSOs fund their operations, particularly their lending.

Members United Corporate FCU announced Sept. 22 it had signed a strategic alliance with Altisource Portfolio Solutions.

California Real Estate Commissioner Jeff Davi warned the state's financial institutions in a fraud alert that his department has noticed a sharp increase in short-sale fraud.

Clarity Member Services, through its parent company, The Money Source of Melville, N.Y., announced its new service to purchase closed loans from credit unions.

The $2.2. million Thurston Union of Low Income People Credit Union, headquartered in Olympia, Wash., is celebrating a $75,000 loan from the U.S. Treasury's Community Development Financial Capital Initiative.