LIVONIA, Mich. - (12/06/05) -- From new homes to first cars tocollege educations; credit unions have long been in the business offinancing a dream come true. But Co-op Services CU is toutinganother kind of a dream it helped fulfill: the development andproduction of a professional-quality Country music CD one of theirmember's daughter needed to gain an audition at a productionstudio. So longtime Co-op Services member James Dodd tapped intohis Gold Line of credit to finance the 'thousands of dollars' heneeded to make his daughter's dream come true. The credit unionloan enabled Gayle Dodd, who goes by the stage name 'Roxy,' to geta professional CD produced. The CD called 'Walking Disaster,'features 10 songs written by Gayle and is now on sale at localmusic stores. The credit union is so impressed they have invited'Roxy' to sing at their annual meeting next March.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
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