News

SACRAMENTO, Calif. - The California Senate passed by a vote of 22 to 12 a bill introduced by state Assembly member Carole Migden (D-San Francisco) that would ban predatory lending statewide. At press time, the state Assembly was expected to vote on A.B. 489 on Sept. 11 or 12. A.B....

Indirect lending continues to be a hot button for credit unions - some can't live with it, others can't live without it. Despite CUs' misgivings about indirect lending, a growing number are participating in programs. Read about indirect lending and other auto lending and leasing news in a special report...

WASHINGTON - Credit unions are still maintaining a healthy price advantage against banks with new auto loan rates, but the lending competitor on the block they should have their eye on is the captive financing company. Credit unions' new auto loan rates came down 64 basis points the first six...

BURBANK, Calif. - Vista FCU knows how to appeal to its members' auto buying fantasies. Buying a Lamborghini, Viper or Rolls Royce may be beyond most credit union members' dreams, but Vista FCU decided to tickle its members' mid-life crisis nerve to market its low 5.99% APR auto loan rates....

WASHINGTON - Consumers borrowing from credit unions for new car loans stand to save big bucks over the life of the loan than if they borrowed money from a bank or thrift, says the latest findings of a Bankrate monthly survey. According to the August survey, banks and credit unions...

WASHINGTON - Auto lending continues to account for one of the major components of credit unions' loan portfolios, and CUs hold a strong market share-nearly a quarter, as of year-end 2000-of the total U.S. auto loan market. Still, as far as channels used by CUs to secure auto loans, indirect...