Lending

ALEXANDRIA, Va. - Credit unions are urging NCUA to expand powers to make member business loans by increasing permissible loan-to-value ratios on some loans, lowering equity requirements and reducing the minimum holdings for loan participations.

McLEAN, Va. – Mortgage rates moved lower this week as economic data showed a slowing in consumer spending, according to Freddie Mac.

LENEXA, Kan. – U.S. Central FCU reported the continuing decline in the mortgage market created larger losses in its portfolio of mortgage backed securities, even as it eliminates increasing amounts from market value evaluations.

TEMPE, Ariz. – Altier CU is offering members and non-members up to 1.25% of a loan back in cash as part of a new or used auto loan.

WASHINGTON - The Comptroller of the Currency is urging NCUA, the Federal Reserve Board, and the Office of Thrift Supervision, to make significant changes to a proposal to define unfair and deceptive credit card practices.

PETERBOROUGH, N.H. - The continuing problems in the U.S. economy are spilling over into credit cards, according to industry analysts, and that includes credit union issuers.

WILMINGTON, N.C. - For some time the news in plastic cards has not been encouraging. But one consultant sees opportunity for revenue growth.

PETERBOROUGH, N.H. - Just five credit unions sold their card portfolios during the second quarter, a marked decline in such sales by CUs. According to Brookwood Capital and Asset Exchange, both of which consult on card portfolio issues, total balances sold during the during the quarter were approximately $20 million. On average, the size of the portfolios sold was $4.1 million.

HOUSTON - Surcharge-free ATM access is gaining in popularity among debit card issuers, according to the 2008 Debit Issuer Study, commissioned by PULSE.

ATLANTA - Considering the proliferation and variety of reward programs available, it is surprising that debit card rewards are still so limited in their availability, according to a new study.

BOSTON - Alaskans are carrying more credit card debit than residents of any other state, while residents of West Virginia are carrying the least, according to a new study.

FITCHBURG, Mass. – The $338-million IC FCU has added a special loan program to assist members with the cost of heating their homes this winter.

RESTON, Va. – Mortgage fraud perpetrated by insiders has leaped significantly, according to one new analysis, which says such fraud was up 42% during the first quarter of the year.

RALEIGH, N.C. – State Employees' Credit Union (SECU) has made changes to its “green” vehicle loan program to include vehicles that get better mileage.

ARLINGTON, Va. – The news on the home front – literally – is not improving much for most of the country.

WASHINGTON–The FDIC has introduced a plan that would modify tens of thousands of loans at IndyMac Federal Bank. The goal is to the failed thrift's sale value and spurring more modifications across the industry. The FDIC has long advocated large-scale modifications to avoid foreclosures and said it is offering modified loans for 4,000 borrowers this week, part of an initial phase to target 25,000 troubled IndyMac borrowers for possible loan changes.

ALEXANDRIA, Va. –Credit union members continue to save more than they are borrowing as the economy stifles economic activity. Mid-year data released by NCUA shows savings were up significantly during the first half of the year at 7%, compared to 3.7% for loans. Overall assets grew 6.5%.