Lending

CUNA and NAFCU are redoubling their efforts to lobby senators to support an amendment by Sen. Mark Udall (D-Colo.) that would raise the cap on member business loans from 12.25% of assets to 27.5% of assets.

It's been two years since the SBA moved its credit union lender approval process from Washington to its district offices and the shift has produced some notable increases.

Can the NCUA back the effort underway to increase the member business lending cap while at the same time help spot and aid troubled loan portfolios?

The $876 million Arrowhead Credit Union can continue to process pending member business loan applications but not accept new ones, the NCUA said.

Fynanz, Inc., a credit union student lending program provider, has revamped its website to feature a blog devoted to helping students and families obtain education and research about college financing.

Referring to credit unions as "taxpayer subsidized," the Independent Community Bankers of America wrote senators that raising the cap on member business loans would "be an unfair and ineffective means of increasing small business credit."

The Ohio Credit Union League is celebrating what it said was a record, fifth straight quarterly increase in credit union members. Roughly 10,000 Ohioans joined credit unions in the first three months of 2010, the league said.

Consumers appeared reluctant to take on additional credit as concerns persist about the pace of economic growth.