Lifestyle Lending Debuts AtCUs

March 15, 2005, 1:00 a.m. EST 1 Min Read

MADISON, Wis. - (03/15/05) -- Increasing numbers of credit unionsare turning to so-called lifestyle lending--the financing ofalternative loans--to increase member services and their loansportfolios. This type of lending has evolved to cover a variety ofnon-traditional loans that can both enhance and finance a member'slifestyle, including adoption, cosmetic surgery, infertilitytreatments and uninsured medical expenses, according to a new studyissued by The Filene Research Institute. The study, LifestyleLending Offers Innovation and Growth for Credit Unions, suggeststhat credit unions have advantages over other lenders in providingsuch financing because of their direct relationship with members,location within their communities and reputations as trustedadvisers.

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