Corporate Reports Surge In CU Borrowing Activity
Corporate Central Credit Union is reporting loan volume to member credit unions is surging. During January of this year, the corporate said it had loaned $585 million to member CUs, significantly more than the $480 million loaned out during the same period one year earlier. The loans are going to credit unions seeking to alleviate a liquidity crunch as members borrow. The corporate has approximately 350 CU members.