News

The opportunity for credit unions as private student lenders remains strong, according to Jon Jeffreys, president of CU Student Choice, despite possible big changes in the student lending market outlined in President Obama's 2010 budget proposal.

The continuing problems of the economy in general and the housing market in particular have again taken their toll on Fannie Mae, which reported a $58.7 billion loss for last year.

The city of Boston has rolled out a $350,000 micro loan fund which will be serviced by Tremont Credit Union.

Saying that the increases in bank failures have caused a strain on the insurance system, the FDIC today announced a 7 basis point increase in premiums starting next year.

Hoping more funding will help the Securities and Exchange Commission weed out fraud more, President Barack Obama has proposed increasing the agency's 2010 budget by 13%.

National Credit Union Administration examiners will consider the impact the Corporate Stabilization Program has on balance sheets, according to Supervisory Letter 09-01, issued today.