Lending

ATLANTA - To support its business services program, Delta Community Credit Union has aligned with Member Business Solutions, LLC. The $2.6 billion credit union, which changed its name from Delta Employees Credit Union in early October, said aligning with MBS was the right move. "Our expertise is in consumer and...

PALO ALTO, Calif. - With its bustling university surroundings and amalgamation of wealth and real estate development, Palo Alto has reached its maturation point when it comes to home construction. That's part of the reason the $644 million Stanford Federal Credit Union (SFCU) has expanded its three-year business lending program...

ALEXANDRIA, Va.-Third party marketing materials can be sent out with a federal credit union's monthly account statement and newsletters. According to a legal opinion letter (05-0823) from NCUA Associate General Counsel Sheila Albin, mailing advertisements for third parties, such as an investment firm in this instance, is permissible as a...

MC LEAN, Va. - Saying "Freddie Mac's action will go a long way toward bringing critically needed capital into the Gulf Region," HUD Secretary Alphonso Jackson commended Freddie Mac's decision to purchase an estimated $300 million worth of single-family mortgages that were closed between June 1 and August 20 and...

ANN ARBOR, Mich. - In just a little over a year, Michigan Business Connection, LC has reached two milestones. The business lending CUSO, which provides commercial underwriting and loan origination services to credit unions throughout Michigan, has exceeded the $100 million mark in underwriting and has funded $20 million in...

OTTAWA, Canada - At first thought American lenders might assume eliminating the mortgage deduction from income taxes would at least slow down currently brisk home sales in the U.S. But Canadians are used to that situation, and it doesn't seem to discourage them from becoming homeowners in impressive numbers. The...

WASHINGTON - House Small Business Committee Chairman Don Manzullo (R-Ill.) introduced legislation on Sept. 21 that aims to lower the tax burden that he says "hampers" small employers' efforts to compete in the global economy and create American jobs. The Small Employer Tax Relief Act of 2005, HR 3841, includes...

ANCHORAGE, Alaska - When it comes to member business lending, Alaska stands out among credit unions in the Lower 48 and Hawaii. Of the 13 credit unions here in the "Last Frontier" state, 10 currently have MBLs on the books. The distinction is the average loan is roughly $545,000, which...