Lending

MADISON, Wis.-Credit unions may not be able to count on the economy boosting auto sales and loan volume until 2012, when car loans may begin to return to levels closer to those experienced before the recession.

SACRAMENTO, Calif.-To keep dealers in the fold and stack up against manufacturers' subvented rates, Schools Financial CU offers 0% financing.

ATLANTA-In contrast to financials making noise about low rates that include numerous qualifications to get the offer, one CU is keeping quiet about a 25-basis-point reduction to its standard auto loan prices.

PEORIA, Ill-CEFCU's Tax Smart Loan is helping the CU battle banks' auto deals below 3%.

FT. LAUDERDALE, Fla.-Lower CD rates-and no resulting runoff-has City County CU well positioned to increase is auto loan portfolio in 2010.

HOUSTON-Smart Financial CU is ready to meet or beat any competing auto loan rate or it will give members $100. "The offer just started, and so far we have not paid anyone the one-hundred bucks," said Dana Rawlings, SVP and COO.

HAUPPAUGE, N.Y.-GrooveCar has rolled out a new "Pocket Your Payment" offer with a goal of taking some CU members' eyes off low auto loan rates being offered by other lenders.

LIVONIA, Mich.-How well credit unions market Invest in America will likely dictate the size and amount of the incentives GM and Chrysler send CUs' way in 2010.

HOUSTON-It's time for credit unions to think like McDonald's and advertise their lowest possible auto loan rate, even if that means members must take multiple products and services to get the great deal, according to at least one CU.

PLYMOUTH, Mich.-Recognizing the economy is changing the education loan landscape, NuUnion CU is now offering a loan for parents of kindergartners.

DENVER-The technology minds behind peer-to-peer lender Zopa's foray into the United States are now helping credit unions here collaborate to bring in new lending business.

DURHAM, N.C. – Latino Community CU announced it is adding two new branches and will start making small member business loans.

WASHINGTON – Home loan rates declined slightly this week, with the average for the benchmark 30-year mortgage remaining under 5%, according to Freddie Mac.

CLARK, N.J.-With the recall of millions of Toyota models reverberating throughout the country, Aspire FCU here is making an effort to calm any fears its Toyota-owning membership may have-and also generate additional loan volume.

DORCHESTER, Mass.-Medical Area FCU is taking a novel approach as it enters a new market by opening a location solely dedicated to lending.

WASHINGTON – Long-term mortgage rates dipped this week, after rising the prior week, with the average for the benchmark 30-year loan again declining below 5%, according to Freddie Mac.

MADISON, Wis. – UW CU yesterday announced it is partnering with the Wisconsin Home and Economic Development Authority to offer the Fannie Mae Advantage Mortgage, which offers up to 100% financing on 30-year, fixed rate loans for first-time home buyers.

LEWISTON, Maine – FISC Solutions, a provider of student loan servicing to more than 25 credit unions and banks in Maine, yesterday announced the discontinuation of the Maine Advantage Education Loan Program.

MT. LAUREL, N.J. – PHH Corp., which operates the biggest third-party mortgage bank for credit unions, moved out of the red for the fourth quarter and for the whole of 2009, the company reported yesterday.