Lending

HOUSTON -- What business model could have averted the current economic crisis? Cooperatives and credit unions, offered Paul Hazen, president/CEO of the National Cooperative Business Association.

McLean, Va. -- The 30-year fixed-rate mortgage this week averaged 6.46% with an average 0.7 point for the week ending Oct. 30, 2008. That's up from last week when it averaged 6.04%.

NEW YORK -- Loan products, not income, are the reason why mortgage borrowers default, according to a report released yesterday by the Local Initiatives Support Corp.

WASHINGTON -- Declining creditworthiness, tightened credit by lenders and reduced demand for loans from small business borrowers has resulted in a nearly 30% drop in Small Business Administration loans during fiscal year 2008, the agency reported today.

WASHINGTON-- Responding to the continuing woes of the world's financial markets, the Federal Reserve today cut a key interest rate by half a percentage point.

SOUTH JORDAN, Utah -- The chorus of experts urging credit unions to use this time to pursue small business owners continues to get louder.

DENVER -- Easing loan terms and waiving payments, credit unions appear to be moving swiftly to help ease the nation's financial pain and from a volunteer and management view "that is heartening," maintains the newly elected head of the National Association of Credit Union Chairmen.

BIRMINGHAM, Ala. -- New opportunities for growth in a changing financial marketplace can be had for credit unions and CUSOs that are not afraid to seize the moment.