Lending

REDDING, Calif. – Members 1st CU has partnered with Sallie Mae to offer its members private student loans through Sallie’s Smart Option Student Loan program.

TUSCALOOSA, Ala. -- Tuscaloosa CU is backing a program to help home buyers with poor credit realize their dreams of home ownership, following the departure of the big banks from the local mortgage market.

State lawmakers approved new mortgage protections for California homeowners that prevent credit unions and banks from foreclosing on a mortgage holder who's applied for a modification.

ORLANDO, Fla. – A federal court this morning dismissed a suit brought by New York’s Sperry Associates FCU over failed participations it bought from the MBLs CUSO of Eastern Financial Florida CU, the failed Florida giant that was acquired in 2009 by Space Coast CU.

SCRANTON, Penn. – Tobyhanna FCU has issued a “holiday” on employee member loan payments, allowing them to skip their monthly loan payments for the months of July and August.

INDIANAPOLIS – Student CU Connect, a CUSO owned by seven area credit unions, signed with First Associates Loan Servicing to service the CUSO’s portfolio of private student loans.

VIENNA, Va. – Navy FCU announced this morning the introduction of a commercial loan participation program which will buy member business loans from other credit unions.

The Bank Transfer Day boon and the power of social media combined to help ArrowPointe FCU pull in $826,400 during its One Day Loan Sale, more than tripling results from the same promo a year ago.

Consumers CU here has begun offering its own twist on the government's HARP 2.0 with a program, dubbed the "High Five Refi," that has now processed more than $5 million in loans.

Great Lakes CU has launched a no-credit-check loan for members in need of quick cash. Its "Cash-In-A-Flash" program offers loans of up to $500, paid back over a nine-month term at 17.90%.

Gone are the days when a credit union could simply throw out a low loan rate and get members to pay attention. Today it takes a rock-bottom price and something extra to stand out.

With two out of every three loan dollars going somewhere besides a credit union, it's critical to implement certain practices if those lost dollars are to be captured, according to one analyst.

A pair of credit union leaders shared their thoughts on what has driven growth for their operations.

Executives at three credit unions that saw strong loan growth from 2008-2010 share strategies at America's CU Conference on not just surviving, but thriving.

After some big banks backed out of a low-income housing project here, Tuscaloosa CU has stepped in to help struggling first-time homeowners achieve their dreams.

United Nations FCU can attest to the benefits of outsourcing to a third-party for mortgage appraisals and choosing the right company to do the work.

TAMPA, Fla. – Grow Financial FCU is offering an auto loan refinance promotion through Aug. 31 that will reward members with a $300 refinancing bonus.

FAIRBORN, Ohio – Wright-Patt CU is partnering with Irongate Inc., one of the area’s largest real estate agencies, to provide home loan services.

CLEARWATER, Fla. – Achieva CU has been approved by the Small Business Administration to offer Patriot Express products for service members.