Lending

BluCurrent CU is offering a 0% APR loan for the holidays and booked nearly $140,000 in its first seven days as a result.

The ancient Mayan calendar predicts that the world will end on Dec. 21. In response, Latitude 32 CU says that if it does, all its loans will be forgiven.

WASHINGTON – The credit union lobby is making a last-ditch effort to attach the long-sought member business loan bill to what may be the last train to leave the station this Congress, the Transaction Account Guarantee bill that would extend the guarantee on all non-interest-bearing bank and credit union accounts.

WASHINGTON – Mortgage rates ticked up slightly this week but remain near record lows, according to Freddie Mac.

WASHINTGON – CUNA and the leagues, faced with the imminent defeat of the member business loan bill again, called on Senators today to kill the bank-favored Transaction Account Guarantee bill which would extend the federal guarantee on all non-interest bearing accounts for banks and credit unions.

PLEASANTON, Calif. – Patelco CU has signed with SS&C Technologies Holdings to implement the company’s commercial loan origination and servicing platform, LMS Loan Suite.

WASHINGTON – If the credit unions are successful in getting a vote on their bill to raise the member business loan limit they might have to navigate the tax waters to do it, with several Senators shopping an amendment on behalf of the bankers that would tax all revenue from MBLs.

SPRINGFIELD, Mass. – Freedom CU was recognized by the Massachusetts District Office of the U.S. Small Business Administration as the top SBA 7a Lender in total dollars for Western Massachusetts.

KEENE, N.H. – Northeast Members Business Services LLC, an eight-year-old CUSO announced plans this morning to wind down its business and distribute its capital to its six New England credit union owners.

1st Financial FCU brought in nearly $460,000 in auto loans as part of a Black Friday promotion this year, repeating a similar special from 2011.

To battle the long arm of dealer financing, at least one CU is meeting members at the dealership to make sure the F&I team doesn't steal the loan.

New car sales are coming back, but are credit unions getting their share in new auto loans?

Pennsylvania State Employee CU has taken 66% of its 80,000 loan apps online this year is sharing tips for optimizing online lending.

CHICAGO – More than 60 members took advantage of First Financial CU’s Black Monday Loan Sale allowing the members to apply for and sign for unsecured loans on their mobile devices.

WASHINGTON – Mortgage rates edged up slightly this week, but remained near record lows, according to Freddie Mac.

SPRINGFIELD, Mo. – BluCurrent CU is offering a 0% Holiday Loan of up to $1,000 for 12 months.

ALEXANDRIA, Va. – A broad coalition of consumer groups called on NCUA this week to encourage credit unions to expand affordable overdraft lines of credit, in lieu of overdraft fee loans they say skirt NCUA’s 18% interest rate ceiling.

ALEXANDRIA, Va. – NCUA reported this morning that last year’s failure of Eastern New York FCU was mostly caused by poor member business lending, which the $57 million credit union conducted through several layers of CUSOs, subsidiaries through which credit unions typically conduct non-traditional business.

WASHINGTON – The powerful banking lobby was urging Senate leaders last night to reject a final effort to bring the member business loan bill to a vote, even as 500 credit union executives and allies were massing on Capitol Hill for a final lobbying blitz today and tomorrow on the MBL measure.

WENTZVILLE, Mo. -- 1st Financial FCU brought in nearly $460,000 in auto loans as part of a Black Friday promotion this year, repeating a similar special from 2011.