This week's special report offers a host of stories about lending, including: how one CU has expanded its lending by creating special indirect loan programs with local businesses, an exploration of whether the industry's growth in lending marketshare may come at a price down the road, auto lending success in Michigan and much more.
TDECU Expanding Indirect Lending Plan with Merchants
LAKE JACKSON, Texas — After recently starting an indirect lending program for local merchants, Texas Dow Employees CU is expanding its loan staff by three to prepare for volume that's expected to reach $2-million a month from the businesses early next year.
Skip a Payment — Or More
Analysts see delinquencies remaining manageableWASHINGTON — Though auto loan delinquency rates across the country continue to rise steeply, credit unions can avoid that pain by sticking to strong risk management practices.
Skip-a-Payment, Part II
CU provides additional help for membersLAWRENCEVILLE, Ga. — Gwinnett FCU here is expanding its skip-a-pay program.
The Cost of Growing Marketshare?
Analysts downplay risks some see in the numbersWASHINGTON — With other financial institutions pulling back on lending, many analysts have been stressing this is an opportunity for CUs to gain marketshare. But is it possible that in the rush to gain share credit unions have made loans that other lenders rejected for good reason?
A Bright Spot in Michigan
A surge in auto loans helps more than CUsLANSING, Mich. — Michigan credit unions, doing business in one of the toughest economies in the U.S., showed a surprising 8.5% increase in new auto loans in the second quarter compared with the first three months of the year.
One CU's Volume Jumps 57%
CLINTON, Township, Mich. — The numbers at Central Macomb Community CU are a microcosm of the broader growth at the state level.
Collections Strategy Is Needed
MADISON, Wis. — The current economic climate is only putting more pressure on credit union boards and management teams to have a clear, consistent philosophy toward collections.
Opportunity in the Cards? Maybe
MADISON, Wis. — A new credit card law designed to restrict certain predatory lending practices, and bankers' reactions to it, present an opportunity for credit unions.
