Lending

Delinquencies fell in six of the eight loan categories measured by the American Bankers Association and the composite ratio fell 12 basis points to 3.23% of all accounts, according to data released by the group today.

Fifty percent of member business loan delinquencies are concentrated in 18 of the 698 credit unions that hold 95% of all MBL dollars, according to analysis from CU Business Group.

Members Cooperative Credit Union is now offering Federal Housing Administration and Veterans Administration loans to its members.

Rep. Brad Sherman, a member of the House Financial Services Committee, urged his colleague who is writing the jobs creation bill to include in it an increase in the cap on member business lending.

State employees now required to take furlough days without pay can find a helping hand at Connecticut Labor Department Federal Credit Union.

The president/CEO of Chartway Federal Credit Union in Virginia said its New Year's Eve acquisition of a troubled Utah CU underscores the difficulties many CUs have in venturing into big-ticket business lending projects.