Lending

SAN ANTONIO, Tex. — Security Service FCU ranked No. 1 on a list of financial providers favored by auto dealers, making it the first credit union ever to take the top spot in this national survey.

Small business owners' optimism about the economy is dwindling, which casts a dark cloud over credit unions’ and banks’ competing lending efforts, according to a new survey conducted by Wells Fargo and Gallup.

Since consumers have been able to lock in historically low rates, the monthly payment on a 30-year fixed-rate mortgage has been within reach for most borrowers. That could change with a rise in interest rates.

CU Direct, provider of lending, automotive and strategic solutions to the credit union industry, on Wednesday announced partnership agreements with eight credit unions to implement the company’s Lending 360 Loan Origination System (LOS).

Five credit unions across the country have signed up to participate in HomeAdvantage to help bolster their mortgage programs.

Mountain America Credit Union partnered with Pavaso to implement a new digital collaborative closing process to provide a better experience to members applying for mortgages called QuickClose.

By integrating cloud-based remote eSignatures into lending document processes here, Hughes Federal Credit Union has hit milestone goals, including increasing indirect lending volumes by 27%.

Dover FCU wanted to increase loan growth and improve front-line member engagement.

The Senate is the next battleground for legislation requiring the Consumer Financial Protection Bureau to rescind 2013 guidance on indirect auto lending, but the bill may do nothing to slow enforcement efforts.