Lending

Credit union market share of auto loans is on the rise reaching 24% compared to 14% a year ago with perhaps some of the credit going to the Invest in America program with General Motors and Chrysler Corp., the Michigan Credit Union League said this week.

The $7 billion The Golden 1 Credit Union yesterday purchased a $500 million private placement, short-term revenue anticipation note from the State of California, which the state issued to make up for budget shortfalls.

WASHINGTON - CUNA President Dan Mica today made another pitch for lifting the cap on member business loans, but Sen. Christopher Dodd said he wants to proceed with caution because of concerns about regulatory oversight.

The National Federation of Community Development Credit Unions is launching a concerted effort to help community development credit unions apply for money available from the Treasury's Community Development Financial Institutions Fund.

Low mortgage rates and an increase in the availability of foreclosed properties helped trigger an increase in sales of existing homes last month, the National Association of Realtors reported today.

Since the Invest in America program went nationwide in January, it has generated 57,000 car sales, with 80% of those sales financed by credit unions.

Microlending bank Grameen America has applied for a federal credit union charter for a potential debut in North Carolina.

The Small Business Administration said it is ready to get "much-needed capital" into the hands of small business owners.