Lending

CLINTON, Township, Mich. — The numbers at Central Macomb Community CU are a microcosm of the broader growth at the state level.

LAWRENCEVILLE, Ga. — Gwinnett FCU here is expanding its skip-a-pay program.

WASHINGTON — Though auto loan delinquency rates across the country continue to rise steeply, credit unions can avoid that pain by sticking to strong risk management practices.

LAKE JACKSON, Texas — After recently starting an indirect lending program for local merchants, Texas Dow Employees CU is expanding its loan staff by three to prepare for volume that's expected to reach $2-million a month from the businesses early next year.

BALTIMORE — Neighborhood Housing Services of Baltimore and seven local lenders kicked off a new program last week offering short-term loans to low-income residents of East Baltimore as an alternative to high-interest-rate "pay-day loans" and cash advances.

LAS VEGAS – The share of mortgages held at credit unions by CU members hit 5.2% as of June 30, which one industry insider said is both good news and bad news.

LAS VEGAS – The economy goes up and down, and in good times or bad, people look to commit real estate and mortgage fraud on credit unions and other financial institutions.

DALLAS–CU Members Mortgage reported it has now partnered with more than 1,000 credit unions, with the company crediting the growth to the increasing number of borrowers looking to CUs for mortgages. “The influx of membership is in part due to the member looking for a financial institution they can rely on,” said SVP Linda Clampitt. “Credit unions have emerged as providers of the service, stability, and quality that other institutions haven’t been able to offer.” Clampitt continued. “We simply help our partners reach their goals of doing just that.” The company was founded in 1982 as a division of Colonial Savings. It originates more than $2.5 billion in FHA, VA, conventional loans annually.

WASHINGTON – The Treasury Department said last week it has approved fine new lenders, including three new credit unions, as servicers for its Home Affordable Modification Program, or HAMP.

BALTIMORE – Neighborhood Housing Services of Baltimore and seven local lenders kicked off a new program last week offering short-term loans to low-income residents of East Baltimore as an alternative to high-interest-rate "pay-day loans" and cash advances.

RALEIGH, N.C. – State Employees’ CU has expended its ‘green’ program offerings to include a loan designed specifically for energy efficient improvements such as replacement windows, heating/air conditioning systems, insulation, solar water systems and Energy Star appliances.

PORTLAND, Ore. — Extra due-dilegence on commercial loans and lines of credit, once thought to be the next shoe to drop by economists, is largely paying off in the form of fewer problems and delinquencies, according to a number of CUSOs.

DETROIT — Credit unions certainly fit into GM's future plans, the automaker recently told more than 100 CUs during a nationwide conference call.

PLEASANT GROVE, Utah — Family First FCU opened an automobile sales lot next to one of its branches here, and immediately welcomed swarms of potential buyers.

McLEAN, Va. – Mortgage rates were almost unchanged this week, holding steady at their lowest level since May, according to Freddie Mac.

WASHINGTON – House leaders, frustrated with a growing number of banks raising credit card interest rates in advance of the new credit card law restricting such rate hikes, introduced a bill yesterday to move up the effective date of the new law 90 days to Dec. 1.

WASHINGTON – Concern over the battering in the secondary markets has led lawmakers to discuss setting new restrictions on mortgage securitizations.

NEWARK, N.J. – A man responsible for digging up Social Security numbers and other personal data that was used to siphon millions of dollars from home equity lines of credit from dozens of credit unions and banks was sentenced yesterday to almost 11 years in prison.

COLUMBUS, Ind. — The tailgate on "Steve P's" old truck is rusted shut, the frame is bent, and he can drive it without keys-and that might win this CU member $500 from Centra CU.