Lending

The bread and butter for some credit union business lending programs are tied to unique offerings such as taxicab medallions, crops and agricultural equipment helping to create a "built-in competitive advantage in making these types of loans and unlocking the wealth contained in certain assets," according to a new report.

Dr. Peter Navarro gave ACUMA's Fall Leadership Conference attendees a lesson in Do-It-Yourself Economics.

The word heard constantly around the American Credit Union Mortgage Association's Fall Conference here was "opportunity," as it pertains to credit unions being able to make hay of the housing downturn to boost its own market share of business.

Lending Solutions Inc., a provider of lending center services and consulting programs for financial institutions, announced that it has been named the largest call center provider in terms of market share within the credit union space, according to Callahan & Associates.

Seventy percent of all credit union Small Business Administration 7(a) loans were originated by clients of Member Business Lending, LLC as of Aug. 31, a 14.1% increase from the previous reporting period, the CUSO said this week.

The federal law, which will prevent members of the military from being charged more than 36% for most sorts of loans, goes into effect on Monday and has earned the praise of three long-term opponents of payday lending.