Lending

CUNA and NAFCU are using today's hearing by the House Financial Service on small business lending to reiterate their push to raise the cap on member business loans.

WASHINGTON -- Credit unions today came a small step closer to their goal of raising the cap on member business loans.

CUSO Mortgage, a mortgage CUSO serving between 30 and 40 credit unions from a headquarters in Halpern, Maine, has used a series of promises to sharply increase the numbers of first mortgages it issues.

The SBA has once again named Redstone Federal Credit Union Alabama's lender of the year.

CUNA President/CEO Dan Mica is scheduled to discuss ways Congress can improve lending opportunities for small business and make a pitch for raising the cap on member business loans during testimony before the House Financial Services Committee tomorrow.

New Orleans -- If a $1 billion credit union borrowed $100 million in strategically laddered advances, and invested those funds in low-risk mortgage pools, it could add as much as $600,000 to interest income.