Lending

KALAMAZOO, Mich. – Consumers CU has rolled out a new mortgage refinancing program it says will help reduce monthly payments and increase cash flow for troubled homeowners.

WESTERLY, R.I. – Westerly Community CU was awarded a $100,000 grant from the Federal Home Loan bank of Boston to help secure home ownership for low- to moderate-income households.

ALEXANDRIA, Va. – NCUA on Monday announced it lowered the rates on its community development loans to just 0.4%, from an already-low 1%, to entice lending in its moribund Community Development Revolving Loan Fund.

The potential doubling of the subsidized Stafford loan rate isn't the big story Washington and numerous media outlets are making it out to be.

Automotive industry analysts say a softening in auto auction sales may not be a sign the used car price bubble is beginning to burst, but it's a strong indication that the steady rise in used vehicle values has stopped.

ALBANY, N.Y. – SEFCU has provided a $7.26 million loan package for the purchase and refurbishment of the Victorian-era Adelphi Hotel in the Saratoga Springs resort.

DALLAS – Credit Union Liquidity Services, the wholly owned CUSO for troubled Texans CU, has sold the note on the troubled Residence at Hotel Palomar, a half-filled a nine-story luxury high-rise condominium, to Westdale Capital.

SAN DIEGO -- A woman accused with her husband of causing an estimated $210,000 in damages to her French Valley home after it was foreclosed on by San Diego Metropolitan CU was found guilty Friday, while the jury is still out on charges against her husband.

Black Book has introduced a new risk score to help financial institutions better manage risk within the used car loan portfolio.

PHOENIX – Arizona State CU said it has added construction loans to its home loan portfolio in anticipation of an improving economy.

WASHINGTON – Long-term mortgage rates declined for the third straight week to new lows, amid record mortgage lending for credit unions.

CHICAGO – It what might be a sign of a recovering economy, loans for recreational vehicles are making a big comeback at some credit unions.

CHICAGO – San Antonio Credit Union during April hit the $700,000 mark in funded retail loans, as it continues to average between $500,000 and $800,000 per month with such loans.

BLOOMINGTON, Ind. – Indiana University CU has chosen Credit Union Student Choice to deliver private student loans to the credit union’s membership.

Predictions that 2012 would see a strong boost in new car sales apparently are proving to be true.

Used car loans and a strong credit card portfolio are driving continued lending growth for $1.9-billion Summit Credit Union.

Superior Federal Credit Union automated its mortgage loan processing and now the $370-million CU claims 25% share of its local mortgage market.

At the recent Ohio Credit Union League Annual Meeting, Credit Union Journal asked attendees if they are paying close attention to the latest MBL legislation and what kind of impact a cap raise would have on their CU.

ALEXANDRIA, Va. – CommonWealth One FCU has joined the city of Alexandria and the local nonprofit Local Energy Alliance Program to offer energy efficiency loans under the Northern Virginia Home Performance with Energy Star program.