News

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.

CO-OP Shared Branching, the shared branching arm of CO-OP Financial Services, has added 264 shared branch locations since the first of the year, CO-OP has announced.

The $1.9 billion Corporate America Credit Union has raised nearly $27 million in additional capital from members as the result of a PIC III subscription. Of that, $20.4 was raised as of March 31, with an additional $6.56 million arriving in April.