Lending

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.

Financial institutions that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.

National home values continued their year-long climb as prices rose in October for the twelfth consecutive month, according to Zillow.

The Mortgage Bankers Association said its index of mortgage activity, which includes both refinances and purchase activity, fell 2.2% for the week ended Nov. 16 from a week earlier.

While some CUs are reporting strong volume in HARP loans, others say they’ve seen little activity at all.

A number of credit unions that say that have “embraced” the government’s HARP program say it has hugged them back by boosting lending.

WASHINGTON--Credit unions have posted their strongest-ever loan performance through their first three quarters of 2012, according to analysis of 5300 Call Report data by Callahan & Associates.

VIENNA, Va. -- Navy FCU said yesterday its October mortgage closings surpassed $1 billion, a new monthly milestone.

PHILADELPHIA – Radian Guaranty said Friday it has agreed to provide private mortgage insurance in the self-adjusting HarmonyLoan mortgage provided by several credit unions through Mortgage Harmony Corp.

Mortgages, portfolio diversification, member convenience strategies, and auto loans (see related story) are what's working in lending, according to a survey of lending executives at the 2012 CUNA Lending Council Conference.

Pick-up trucks are holding their value better these days than compact cars, an interesting trend in light of the high gas prices, pointed out Ricky Beggs