Lending

Continuing what the credit union says is an ongoing trend, the $1.3 billion Truliant Federal Credit Union closed 32% more mortgages this past June than it closed in June of 2008.

Nine more credit unions have signed up to use collections outsourcing services from Lending Solutions Inc.

To help meet the short-term loan needs of state employees, Virginia Credit Union has partnered with the state of Virginia to offer emergency loans ranging from $100 to $500.

NAFCU's Tun Wai and CUNA's Steve Rick both understand why credit unions are booking more mortgages: secondary market prices are deeply discounted, and consumer loans not only bring credit risk, demand for them is low, too.

While credit unions continue to tout having more money to lend, some still prefer to deal with existing businesses with positive cash flows and tangible assets.

Delinquencies among eight installment-loan categories increased to 3.23% of all accounts during the first quarter from 3.22% in the last three months of 2008, the American Bankers Association reported today.

Despite some criticisms of the SBA's new America Recovery Capital program, Dupaco Community Credit Union said it believes the loans will bring much-needed assistance to members.

While the SBA expected a new program offering deferred payments and no fees to be in huge demand, only $4.6 million loans have been funded since the recovery effort was launched on June 15.