News

President Obama is scheduled to unveil a plan later today that will provide $1.5 billion to state and local housing agencies in five states so they can provide additional relief to homeowners in danger of losing their homes, according to media reports.

Through its foundation, North Carolina's State Employees' Credit Union will provide a 0% $500,000 construction loan for a maternity home that serves homeless and runaway youth.

The SBA told credit unions and other lenders today that it will reactivate the Recovery loan queue by Feb. 22 to ensure that the $125 million appropriated to the agency in December will go out the door much faster to small businesses.

Rep. Brad Ellsworth (D-Ind.) who has enjoyed strong support from credit unions during his two terms in the House of Representatives, is going to announce his candidacy for U.S. Senate, according to several media reports.

This year UW Credit Union is giving its members the gift of better understanding their spending.

Almost 20% of insured shares continued to be in credit unions with a rating of CAMEL 3 or higher at the end of last month and the NCUSIF's equity ratio remained at 1.24%.

Smaller credit unions can now free up some more staff time from ATM management, thanks to a new tool from Morphis, a software firm specializing in cash management.

Credit unions got a glimmer of hope today when Sen. Charles Schumer (D-N.Y.) said he still would like to have legislation to lift the cap on member business lending.