Lending

The newly-merged, $1.5 billion Lake Trust Credit Union of Lansing, Mich. looks to get permanent signage ready by July 1, complete data processing conversion by year-end and is hoping a 3.99% teaser loan rate builds some auto loan volume.

Turned down by several banks, the owners of a Texas bagel shop were able to get their restaurant up and running thanks to an SBA loan through Randolph-Brooks Federal Credit Union.

Keeping pace with a national trend, banks in Wisconsin experienced a 15% decrease in business lending in 2009 while the state's credit unions marked a 13% jump last year.

While some credit unions have experienced losses, it's still may be worth it for them to take a chance on what would happen if the 12.25% of assets member business lending cap was lifted.

Financial regulators, including the NCUA, say while they understand that the downturn has led lenders to significantly scale back their business lending activity,

Loan delinquencies declined in eight of the 11 loan categories tracked by the American Bankers Association in the last quarter of 2009, the second consecutive overall quarterly improvement, the association announced today.

The $1.3 billion Truliant Federal Credit Union saw a 16% increase in the mortgage loans it closed in March 2010 over March 2009.

The SBA's two largest loan programs recently received another extension that is estimated to support nearly $1.4 billion in small business lending under legislation signed by President Obama March 26.