Lending

In part, consumer demand is at the root of payday loans' rise in popularity as the fees mainstream institutions charge grow, an executive from a leading payday loan firm stated.

CUC Mortgage Corp. has picked up the $21 million R-S Bellco Federal Credit Union, based in New Brighton, Pa., as a client.

Credit Union Student Choice has added the Pennsylvania Credit Union Association as its latest partner.

An executive with the Center for Responsible Lending applauded the NCUA's most recent guidance to federal credit unions on payday lending, but said he expected implementing it to take time.

Call it a sign of the down economy and California's shifting real estate market. The $7.5 billion The Golden 1 Credit Union has announced that it will start writing mortgages eligible for insurance from the Federal Housing Authority.

NCUA issued its recent letter to federal credit unions about permissible payday lending alternatives after it received a January letter from an interest group.