Lending

The $2 billion SEFCU credit union, headquartered in Albany, has purchased an area mortgage origination firm to expand its mortgage offerings.

The shrinkage of commercial bank loans in El Salvador has prompted government policy makers here to develop economic policy and payments system support for credit unions and financial cooperatives.

For the first time since 2006, banks have reported easing their lending standards on commercial and industrial loans to small businesses.

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.