Lending

A recent NCUA letter to federal credit unions drew some lines to govern the characteristics of payday loan alternatives federal credit unions can offer.

The NCUA determined that pulling the Central Liquidity Facility funds from U.S. Central would be the only way to continue helping it and the credit union system at large.

The Michigan Credit Union League announced a marketing agreement with Thor Inc., the largest producer of recreational vehicles, to aid CUs offering secured RV loans through Thor's captive finance firm.

Integrated Lending Technologies is bolstering its Dealer Indirect Lending and Leasing System loan origination platform with some document management tools from Wolters Kluwer Financial Services, the companies said.

The Small Business Administration should delegate less decision-making power to lenders in a key government lending program an official of the Government Accountability Office told lawmakers yesterday.

Southwest Corporate Federal Credit Union is making available to credit unions a white paper that examines how market spreads impact relative asset value. A PDF copy is available for download on Southwest Corporate's Web site, www.swcorp.org.