News

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.

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.