Cochran Named To Top 50 List
HARAHAN, La.-Louisiana Credit Union League CEO Anne Cochran has been named one of the Top 50 Women of the Year by New Orleans weekly business newspaper CityBusiness.
Cochran was selected for the honor for her work at the league on a state, national and international level helping "credit unions flourish throughout Louisiana and expand the international credit union movement through her work in Africa."
NY CUs Surpass Underserved Goal
LATHAM, N.Y.-Credit unions participating in the New York State Credit Union Loan Initiative have surpassed a multi-million dollar loan commitment set at the beginning of 2005 to help serve the underserved.
The group of 28 credit unions sought to issue $100 million to members for real estate loans in underserved areas and endd up granting a total of $152,575,266.
The second part of the initiative earmarked $2 million for credit union member emergency loans. As of Dec. 31, 2005, with a number of reports still outstanding, credit unions had granted $1,690,862 in emergency loans and have commitments that will raise the final total over the loan initiative's $2 million goal.
NACCU Explores Payday Lending
WASHINGTON-The National Association of Community Credit Unions released a new white paper focusing on alternatives credit unions can provide to payday lenders.
Jim Jerving authored the paper Credit Unions Offer Payday Loan Alternatives. "If payday lending is an effective and lucrative business model, why haven't credit unions entered this market," Jerving asked. "As not-for-profit financial services providers with a mission to serve people of modest means who lack access to credit, offering this type of loan product would seem to be a natural fit. There are barriers to entering this market with a competitive product. But these barriers can be overcome."
The white paper is available at NACCU's website at www.naccu.com.