Credit unions are in a good position to ride the economic wave.
When it comes to auto loan portfolio acquisitions, some might see credit unions as the equivalent of little fish being circled in waters full of sharks–banks and other lenders.
Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.
A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.
In light of the financial challenges faced by credit unions over the past few years and specifically the increasing interest rate risk that comes with many credit unions borrowing short to lend long, the NCUA has refocused its attention on asset-liability management functions.
The entry deadline for the 13th annual Excellence in Lending Awards, which recognizes outstanding lending results and practices by credit unions, is Sept. 7.
A radical culture change in the workplace and a shift in how collection efforts are carried out have helped two credit unions in the Midwest grow their loan portfolios well above the industry’s national average.