ARLINGTON, Va. - In his analysis of vehicle lending trends, NAFCU Economist Dr. Tun Wai noted that while vehicle sales actually increased slightly to 16.2-million annualized units in November, the year to date average of 16.1-million units is the slowest pace since 1998.

AUSTIN, Texas - Auto sales are declining and the percentage of auto loans funded by credit unions is down from its peak two years ago, but one insider says CUs have responded by diversifying their lending portfolios and leveraging their strength as local relationship builders.

HARRISBURG, Penn. - Secretary of Banking Steve Kaplan is calling on Pennsylvania lawmakers to pass stronger laws to protect home borrowers from abusive lending practices, some of which are causing families to lose their homes to foreclosure.

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Pacific NW Storms Close, But Don't Damage CUs

WASHINGTON - Credit unions continued to lobby against themselves last week over solutions to the continued meltdown in the mortgage markets.

MADISON, Wis. - Thanks to a combination of accelerated loan growth and flat savings growth, the CU community's overall loan-to-share ratio has hit its highest mark since 1979, according to CUNA. Data show the ratio rose to 84.3% in October from 83.4% in September.

PITTSFIELD, Mass. - Greylock Federal Credit Union has launched an auto loan product for consumers with impaired credit but who also have a willingness and ability to make their loan payments.

ATLANTA - More websites are offering consumers the option of making payments with services that do not require the shopper to provide credit or debit card information. These types of services, such as Bill Me Later and SECURE e-Bill (which recently changed its name to eBillme.com), are designed to provide an extra level of privacy and security for online shoppers who need only enter a minimum of information to make payment arrangements. SECURE e-Bill (or eBillme.com) works in conjunction with a consumer's online bill payment service at their financial institution, while Bill Me Later extends credit to the online shopper who receives a bill that they can pay in full within 30 days or extend payments while incurring finance charges.

CLEARWATER, Fla. - Card Services for Credit Unions (CSCU) here said it will join with Visa USA to promote financial literacy nationally. Under the program, CSCU's member credit unions will have access to free financial literacy resources from two Visa programs to distribute in their communities.

Auto lending has traditionally been the bread and butter of CUs, but right now:

HIGHTSTOWN, N.J. - New Jersey's Department of Banking and Insurance and Department of Community Affairs, along with representatives of financial services institutions in this state, have announced a public-private alliance designed to both educate and assist New Jersey homeowners.

DULUTH, Ga. - The financial markets have all but abandoned the traditional measures used to determine value for investing, with fear becoming the ruling determinant for decisions, according to Sarina Freedland, AVP-Investment Services for Georgia Central Credit Union. In remarks to the corporate's members, Freedland noted that after falling 26 basis points in a single day, the two-year Treasury note hit a three-year low. That has left credit unions unsure how to react, Freedland said.

SOUTH BEND, Ind. - Teachers CU won first place in e-learning and 2nd place in CUNA's WOW Award, presented to the credit union with the best overall training curriculum or event. TCU's core provider, Focus XP, decided to convert current operating system to XP2.

RALEIGH, N.C. - Local Government FCU said it mortgage refinance program aimed at helping subprime borrowers stay in their homes has refinanced $6 million in mortgages for 50 families.

WILMINGTON, Calif. - ILWU Credit Unions is offering assistance to those affected by the recent California wildfires. A special loan will be available through Dec. 31 for up to $2,500 at 0% interest, with a one-year term. This offer is for ILWUCU members only, and proof of address and income is required. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

ARLINGTON, Va. - While consumers are in the grip of the holiday shopping frenzy, economists are trying to determine if the country might be in for a lump of coal in the not-too-distant future.

RALEIGH, N.C. - State Employees CU announced it has added a payment option to its mortgage program that will allow homeowners to make semi-monthly payments.

Unfortunately, it has become a truism in the credit union industry that the many will pay for the mistakes of the few. The National Credit Union Share Insurance Fund (NCUSIF) stands to lose hundreds of millions from the speculative real estate construction and risky business lending directly resulting from the poor judgment of a mere handful of credit union leaders. Credit unions running responsible operations are now paying the price for the mistakes and recklessness of their less-than-prudent brethren.

There is no doubt that most people have heard the parable, "give a man a fish; you have fed him for today. Teach a man to fish and you have fed him for a lifetime." Traditional financing models often miss this important psychological element of education, which is essential to the ongoing success of positive economic progress.