Lending

IRONDALE, Ala. – Corporate America CU is the latest corporate credit union to offer “Smart Option” private student loans through Sallie Mae.

FORT LAUDERDALE, Fla. – City County CU has signed with Fynanz to provide its cuStudentLoans private student loan platform to its members.

WASHINGTON – Long-term mortgage rates surged this week from near all-time lows the prior month as mortgage rates continued to track bond yields and improving economic data, according to Freddie Mac.

HANSCOM AIR FORCE BASE, Mass. – Hanscom FCU has signed with Fynanz to offer the company’s customizable private student loans platform.

CEDAR RAPIDS, Iowa – Linn Area CU has signed with Fynanz to provide it with a private student loan program.

WASHINGTON – More than 1,000 bankers are massing on Capitol Hill today seeking to, among other things, block a vote by Congress on the bill to raise the limit on member business loans for credit unions.

PHILADELPHIA - Three East Coast credit unions have launched a new CUSO called UnityXchange that is creating a trading platform where credit unions and banks can solicit and buy into loan participations based on member business loans.

FRANKENMUTH, Mich.-When members of Frankenmuth CU file for bankruptcy, the credit union steps in to provide a helping hand and pick up a good car loan at the same time.

FERNDALE, Mich.-CU ONE here has introduced a Debt Buster loan program, which it says is a mix of old-school underwriting and progressive packaging.

ALEXANDRIA, Va. – Pentagon FCU said it will continue to offer its more than one million members a reduced interest rate when using the PenFed Auto Buying Program, powered by TrueCar.com.

RALEIGH, N.C. – State Employees’ CU said it is continuing to waive late fees on first mortgage loans up to 45 days late to help members whose lives have been disrupted by significant events such as the loss of a job.

WASHINGTON – Senate Majority Leader Harry Reid, deferring to avid opposition by the banking lobby, last week agreed not to attach an increase in the member business loan limit for credit unions to a small business jobs package, known as the JOBS Act, which has strong bipartisan support and is predicted to pass.

WASHINGTON – Mortgage rates rose from near record lows this week after promising U.S. jobs reports, according to Freddie Mac.

PHILADELPHIA – Three East Coast credit unions have launched a new CUSO called UnityXchange that is creating a trading platform where credit unions and banks can solicit and buy into loan participations based on member business loans.

DALLAS – CU Members Mortgage has issued a CU Home Promise that guarantees a member’s home loan will close within 40 days of receiving documentation, otherwise it will pay the borrower $500 toward closing costs.

NEW YORK – Fynanz and its cuStudentLoans program said it has signed with Overture Technologies to promote a private student loan consolidation and refinancing product for college graduates with private student loan debt.

MIAMI – In one of the most ambitious suits of its kind so far, Space Coast CU has filed suit against several of the biggest investment banks and the Wall Street rating agencies for the sale of $150 million of risky investments known as collateralized debt obligations—CDOs—to Eastern Financial Florida CU, the huge Florida credit union that failed in 2009 then was acquired by Space Coast. It was the biggest credit union failure ever, outside of the corporates.

ROCKFORD, Ill. – MembersAlliance CU is partnering with Energy Impact Illinois to launch a pilot low-rate Home Performance Residential Retrofit Rebate program.

WASHINGTON – Mortgage rates dipped even lower from record depths this week, as the spring home-buying season beckons.