News

Michigan credit unions showed significant growth in deposits, new auto loans and small business loans, according to fourth-quarter data from the Michigan Credit Union League.

Larger goodwill loan amounts will be considered on a case by case basis through Aug. 31, the Small Business Administration said in response to lenders concerns.

For the time being, several CUSOs with ties to WesCorp said it's business as usual days after NCUA placed one of the country's largest corporates into conservatorship.

If anything, the recent corporate conservatorships prove that risk analysis can ward off problems down the road, according to ALM First Financial Advisors LLC, which bought WesCorp's $1.7 billion investment book of business in 2006.

The National Federation of Community Development Credit Unions is launching a concerted effort to help community development credit unions apply for money available from the Treasury's Community Development Financial Institutions Fund.

A debate is brewing regarding the necessity to take U.S. Central Federal Credit Union and Western Corporate Federal Credit Union under conservatorship.

WASHINGTON - CUNA President Dan Mica today made another pitch for lifting the cap on member business loans, but Sen. Christopher Dodd said he wants to proceed with caution because of concerns about regulatory oversight.

NCUA Executive Director David Marquis dropped a bombshell on members of Western Corporate Federal Credit Union yesterday afternoon: their paid-in capital and member capital is gone.