Credit Union Times | Accurate and Timely CU News

Receding Loans May Lead to 'Aggressive' Investment Management

By Michelle A. Samaad

MADISON, Wis. -- If the current trend of stronger deposit inflows and receding loan demand continues, credit unions may need to get more "aggressive" in investment management especially if lending spreads further erode.

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Deposit Relationships Appear to Drive Latest Member Growth

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Countrywide Taps Credit; Housing Starts Down

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August 16, 2007

Countrywide Taps Credit; Housing Starts Down

WASHINGTON, D.C. -- Countrywide Financial, the nation's largest mortgage lender and a major partner in the credit union mortgage arena, has tapped its $11.5 billion credit limit to ensure its funding liquidity. The $11.5 billion is provided by 40 of the world's largest banks. Housing starts have dropped back to...

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August 15, 2007

Federal Regulators Issue Subprime Language

WASHINGTON -- In a joint release and submission to the Federal Register the five federal financial regulators issued what they called "illustrations" that are meant to help financial institutions better serve consumers seeking subprime and adjustable rate mortgages.

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August 15, 2007

ACUMA Chairman Joins Call to Aid Mortgage Subprime Victims

HAMPDEN, Maine -- The chairman of the American Credit Union Mortgage Association, John Reed, added his voice Thursday to the call by industry leaders to help find CU solutions to the mortgage crisis whether it be hotlines, funding platforms or CUSO linkage, all aimed at helping subprime victims.

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August 14, 2007

Vacation Homes to Secure HELOCs at Pacific Service

Pacific Service Credit Union is now offering two new home equity loans secured by either rental property or vacation homes, a bold move, given the state of the mortgage industry right now. With rising delinquencies, foreclosures, falling home values and a glut of "for sale" signs in many areas, PSCU...

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August 14, 2007

Black Enterprise Touts CUs for Car Loans

Credit unions are most likely to have the best deals in town when it comes to car loan refinancing, Black Enterprise magazine recently recommended.

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August 14, 2007

SECU's Alternative Mortgage Efforts Help Subprime Borrowers

Reaching out to members who may have been victimized by other mortgage lenders State Employees' Credit Union has developed new products to help them refinance and keep their homes, said the CU.

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August 14, 2007