Lending

NAFCU reminded credit unions they should contact both senators and U.S. House representatives over the congressional break to gather support for increasing the member business lending cap.

Over the next 12 to 18 months, repairing members' balance sheets may be the primary source of loan growth for credit unions.

The banking industry's push to stonewall attempts to attach an amendment to a bill that would raise the member business lending cap continues to draw the ire of the Wisconsin Credit Union League.

Nonprofit lenders have another source to aid small and rural businesses through a new $10 million grant program from the Bank of America.

At least two credit unions are involved in a new pilot program from the San Francisco Municipal Transportation Agency that will permit the sale of coveted taxi medallions.

There are still several goals REALTORS Federal Credit Union plans to move forward with a few weeks after Tom Glatt, its former president/CEO, stunned some in the industry with the announcement that he would be leaving the fledgling cooperative.

Dort FCU of Flint is still enjoying the national limelight this week as the first financial institution in the U.S. to actually launch and implement funds distribution for the $1.5 billion Obama Administration program to help homeowners.

Regulators from Gulf Coast states have been invited to participate in an industry-sponsored three hour/workshop/seminar Aug. 30 exploring examiner flexibility on BP oil spill loans to fishermen, boat operators, and small businesses.