Credit Union Times | Accurate and Timely CU News

Combination of Events Behind CU National's BK

By Heather Anderson

Crisis management firm NachmanHaysBrownstein, Inc., said it didn't intend for its press release to imply one credit union client was to blame for the recent bankruptcy filing of U.S. Mortgage Corp. and its CU National Mortgage subsidiary.

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Nevada FCU Payday Loans Grab USA Today Headline

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Oregon CU CEO Testifies on Aiding Small Businesses

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February 25, 2009

CU National Mortgage Files BK, Blames Credit Union

The Pine Brook, NJ-based U.S. Mortgage Corp., and its CU National Mortgage subsidiary, announced today that it has filed Chapter 11 Bankruptcy.

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February 25, 2009

President Budget Proposes $28 Billion for SBA Loans

President Barack Obama's fiscal year 2010 budget authorizes $28 billion in loan guarantees and an appropriation of approximately $700 million for the agency.

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February 25, 2009

CIT Suspends Dividend Payments to Keep Afloat

In another move to keep bankruptcy at bay, small business lender CIT Group Inc. announced today that it is suspending dividend payments on some of its stock to improve liquidity and preserve capital.

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February 24, 2009

Grameen America Closer to North Carolina Launch

Microlending bank Grameen America, which met with credit unions earlier this month, will visit North Carolina again today to move forward with plans to open a branch there.

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February 19, 2009

On-Site Coverage: FHLB See CUs as Global Bridge Builders

ATLANTA -- With 8,100 credit union partnerships, the Federal Home Loan Bank said they represent its fastest growing segment and can play a big part in reconnecting to struggling global markets.

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February 19, 2009

On-Site Coverage: NCUA Risk Mitigation Shifts to Practice

ATLANTA - The tone at this year's NCUA Risk Mitigation Summit had a more practical and urgent one.

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February 18, 2009

NAFCU Offers Webcast on RESPA

Credit union employees interested in learning how to comply with the changes in the Real Estate Settlement Procedures Act can sign up for NAFCU's March 4 Webcast on the subject.

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Top Lending Stories

Combination of Events Behind CU National's BK

Nevada FCU Payday Loans Grab USA Today Headline

Oregon CU CEO Testifies on Aiding Small Businesses

Recommended Just For You

Lending Stories

CU National Mortgage Files BK, Blames Credit Union

President Budget Proposes $28 Billion for SBA Loans

CIT Suspends Dividend Payments to Keep Afloat

Grameen America Closer to North Carolina Launch

On-Site Coverage: FHLB See CUs as Global Bridge Builders

On-Site Coverage: NCUA Risk Mitigation Shifts to Practice

NAFCU Offers Webcast on RESPA