Lending

Arizona Attorney General Terry Goddard pledged Wednesday to vigorously enforce a crackdown on payday lending three weeks before the June 30 expiration of a sunset law allowing the shops to charge rates up to 400%.

According to CUNA Mutual Group's May "Credit Union Trends Report," member business loans continued to be the front runner as total loans were down 1.5% year to date.

Conventional wisdom says mortgage-issuing credit unions, like the rest of the mortgage industry, will see a downturn this year.

Still sputtering despite the gradual economic recovery, the U.S. housing market's continued recovery appears dependent upon the return of consumer and investor confidence in concert

Credit unions absolutely can and should make mortgage loans, according to a longtime CU executive, but in order to do so they need to get serious about the product.

For its lending efforts, the SBA has once again named Redstone Federal Credit Union Alabama's lender of the year.