News

NEW ORLEANS - A record 358 CUNA CFO Council members are attending today's annual conference here, according to Cheryl Sorenson, CUNA conference and meetings manager.

Quicken Loans, the fourth largest mortgage lender in the U.S., has rolled out a loan origination service aimed at community banks and credit unions.

The National Association of Home Builders' monthly Housing Market Index increased this month signaling that home builders are starting to have more confidence is a strengthening housing market.

Credit unions continue to lead banks in customer satisfaction with online banking, according to an annual study by a Michigan-based research firm and Forbes Media.

New Orleans -- If a $1 billion credit union borrowed $100 million in strategically laddered advances, and invested those funds in low-risk mortgage pools, it could add as much as $600,000 to interest income.

Extensive investments in collateralized debt obligations, unrealistic growth patterns that went unchecked and the failure of state and federal examiners to realize the risk of certain practices all helped cause the failure of Eastern Financial Florida CU.