News

CUSO Mortgage, a mortgage CUSO serving between 30 and 40 credit unions from a headquarters in Halpern, Maine, has used a series of promises to sharply increase the numbers of first mortgages it issues.

The $9.5 billion Members United Corporate Federal Credit Union released its April 2010 and year-end 2009 audit today, reporting additional OTTIs that will impair member capital shares by 97%.

The SBA has once again named Redstone Federal Credit Union Alabama's lender of the year.

WASHINGTON -- Credit unions today came a small step closer to their goal of raising the cap on member business loans.

Following five consecutive quarters of negative return on average assets and declines in loan and investment income, the NCUA liquidated the Convent Federal Credit Union in New York City.

CUNA President/CEO Dan Mica is scheduled to discuss ways Congress can improve lending opportunities for small business and make a pitch for raising the cap on member business loans during testimony before the House Financial Services Committee tomorrow.