Lending

The SBA and its Office of the Inspector General said it has received several complaints from small businesses about abusive marketing practices, scams, and exorbitant fees charged by firms.

Mark Cummins, president/CEO of the Minnesota Credit Union Network, is among the growing chorus of industry leaders urging for the lift of the 12.25% of assets member business lending cap.

President Obama signed legislation late Friday that would extend enhancements for the SBA's two largest loan programs that is estimated to support nearly $1.4 billion in small business lending.

Eliminating the requirement of obtaining personal guarantees for business loans unless a waiver is granted will be the main focus of a comment letter to the NCUA from NACUSO General Counsel Guy Messick.

Low and moderate income families still have another resource to tap through Meriwest Credit Union's mortgage subsidiary to buy homes at below the normal market rates.

Student lending CUSO Credit Union Student Choice and CUcorp, a wholly owned subsidiary of the Michigan Credit Union League, announced that they've joined in a strategic partnership.