News

The new head of the League of Southeastern Credit Unions, Patrick La Pine, acknowledged Tuesday he faces a daunting but important task in managing the newly created entity with the potential to wield major influence at the state and federal levels.

The $17.15 million awarded to nine credit unions is only the first part of this year's total awards from the U.S. Treasury Department's Community Development Financial Institutions Fund.

A CUSO that purchases nonperforming loans may restructure delinquent debt it owns, so long as the credit union made the original underwriting decision and no new credit is being extended to the borrower, the NCUA recently clarified.

The Winthrop Rockefeller Foundation has approved a $250,000 deposit into the $117 million Hope Community Credit Union.

Don't rule health savings accounts out yet.

Even in credit-strapped times, the SBA, working with credit unions and other lenders, has approved more than $315 million in Patriot loans to more than 3,750 veterans and their spouses.