Lending

MADISON, Wis. – University of Wisconsin CU rolled out a fixed-rate private student loan for college students, adding to its variable-rate student loan.

BOULDER, Colo. – Elevations CU has been chosen by the U.S. Department of Energy to administer a $25 million energy efficiency loan program called EnergySmart.

SAN DIEGO-Credit unions should be seeing more competition from big banks that are loosening lending policies to reach more subprime borrowers.

OMAHA, Neb.-A two-for-one loan sale can boost the portfolio, but it should include numerous loan types to make the deal more attractive to members.

SALT LAKE CITY-An initiative to offer e-signatures and e-closings on mortgage loans at Mountain America CU here has proved successful in its first year, and the credit union is now hoping to expand e-closings to other loan offerings in the coming years.

SEATTLE-Two credit unions based in the Puget Sound region are continuing to see excellent results from short-term, limited-fee mortgages they introduced this summer.

OKLAHOMA CITY-A loan to finance storm shelters for members here that was introduced after tornadoes devastated the area in the Spring of 2011 has netted Communication FCU more than three-quarters of a million dollars in loan growth.

MANCHESTER, N.H.-St. Mary's Bank has a history of great success with innovations, but a program launched this summer to provide micro loans to entrepreneurs has so far fallen flat.

HAUPPAUGE, N.Y. – Island FCU has signed with cuautocoupons Inc. to offer the start-ups auto coupons to its members.

MIDLAND, Mich. -- Members First CU has loaned out $1 million in its fourth year of the $1,000 Whatever Loan.

MOBILE, Ala. – A women who helped her brother tap into First Educators CU and several other lenders for millions of dollars in mortgages was convicted by a state jury Friday of fraud in the scheme.

WASHINGTON – Former top executives of Fannie Mae and Freddie Mac were charged Friday in a civil suit by the Securities and Exchange Commission with lying to investors and Congress about the extent of the two mortgage giants’ subprime business during the mortgage meltdown.

WESTBURY, N.Y. – Nassau Educators FCU has signed with cuautocoupons Inc. to offer the start-ups auto coupons to its members.

WASHINGTON -- Fixed mortgage rates hit historic lows this week, with the 30-year home loan returning to its record low of 3.94%, amid troubling reports on the state of the housing market, according to Freddie Mac.

ALEXANDRA, Va. – NCUA proposed this morning to expand its rules governing loan participations—including the 10% “skin in the game” requirement—from the current federally chartered credit unions to cover all federally insured credit unions.

MOBILE, Ala. -- Prosecutors opened a trial Monday against a woman accused of helping her brother run a sophisticated fraud that helped obtain millions of dollars in fraudulent mortgages from First Educators CU in Birmingham and other lenders to finance condominium rehabs at the Gulf Shores resorts.

THE NORTH POLE-Giving your true love 12 days worth of Christmas gifts may have been immortalized in song, but they would likely be immortalized even longer in examiners' reports should loans be made to finance them.

SUMTER, S.C.-Just in time for holiday gift-giving, SAFE FCU slashed its loan rates almost across the board to 2.99% APR, generating more than $2 million in the first two days of the offer.

NEW YORK – Next year could be a “transition” year in which consumer deleveraging slows significantly and borrowing improves, spurring credit card growth.

WASHINGTON – The Mortgage Bankers Association is calling on the government not to make proposed changes in the GSE servicing compensation model.