Lending

WASHINGTON – CUNA Mutual Group rolled out a new mobile car-buying app this morning at CUNA’s Governmental Affairs Conference that will assist credit union members in shopping for and purchasing a vehicle.

WASHINGTON – Mortgage rates held steady this week near all-time lows, according to Freddie Mac.

SAN JOSE, Calif. – Technology CU reported a surge in member business lending, closing $15 million worth of commercial real estate loans in December.

DUNCAN, Okla. – It took just 30 minutes for Halliburton Employees’ FCU to fund the first $500,000 of its 0.99% Valentine’s Day loan special.

Expect the auto auction lanes to be fuller this year, but that won't mean used car values will take a nosedive.

WASHINGTON – Long-term mortgage rates were unchanged this week, holding near all-time lows, according to Freddie Mac.

It can be easy to show good numbers following a merger, especially if absorbing a small credit union. What takes more work is creating a culture to hit those numbers organically.

A stronger housing market means its time to consider adding realty services.

Financial institutions in some states are paying deposit rates that are much higher than the national average, but institutions in those states shouldn't agonize too much about paying up for the funds.

Charlotte Metro CU here saw a nearly 50% increase in product openings after launching a direct mail campaign targeting specific demographics in its membership area.

The $241-million Clackamas FCU here has turned a Credit Union Journal article into its own success story with a 1%-off, one-day loan sale that booked big numbers.

MADISON, Wis. – CUNA Mutual Group announced this morning that it and its partner PMI Mortgage Insurance have agreed to sell their joint venture, CMG Mortgage Insurance Co., the biggest provider of private mortgage insurance to credit unions, to Bermuda-based Arch Capital Group Ltd. and its U.S. subsidiary, Arch U.S. MI, for $300 million.

WASHINGTON – Home mortgage rates fell back again toward record lows this week, after rising the past few weeks, according to Freddie Mac.

PLANO, Texas – Catalyst Corporate FCU announced it will roll out an agent loan participation program in the next few weeks that will connect credit unions that want to sell loans with those that want to purchase an interest in a loan pool.

What can make a cash-back loan program perform even better? Let members talk about it.

The $1-billion Meriwest Credit Union is using predictive analytics to identify potential borrowers.

Cash in hand can be more attractive than a sub-2% rate, says CitizensFirst CU, which ran a cash-back promo that boosted auto lending by 252%.

Having raised nearly $400,000 for the city of Hutchinson since 1997, Hutchinson CU is preparing a slight revamp to its affinity card program after usage has dipped in recent years.

Advantis Credit Union says its Rehabilitation Mortgage Program is helping to revitalize the communities it serves, boosting its bottom line, and increasing exposure of the $1-billion CU and its mortgage department.