Lending

REDWOOD CITY, Calif. - The ongoing growth of peer-to-peer lending, which cuts out middlemen such as CUs, has now spread to student loans.

COLORADO SPRINGS, Colo. - When a member with a long-standing 800 FICO score, a good pension, and additional income walked into the credit union and dropped off keys to his home, Ent FCU knew it was time to focus on workout loans.

SAN DIEGO - First it boomed. Then it crashed. And credit unions have been left to pick up the pieces.

PLANO, Texas - Southwest Corporate Credit Union reported that June foreclosure filings rose 53% from a year earlier while actual repossessions almost tripled.

ORLANDO, Fla. - Investing can be tricky business in the current market environment, but fortunately for credit unions, the strategy is simple: the single best investment a credit union can make is a quality loan.

EAST LANSING, Mich. - Option 1 Credit Union here has built a niche in making loans to people with disabilities, helping to boost its loan portfolio and its image in the community.

LOS ANGELES - CUs have been lauding the fact that many other mortgage lenders have been backing away from the market, leaving the field open–but it turns out they’re not the only ones who noticed that open field.

LAS VEGAS - Credit unions entering into or considering indirect lending relationships with independent auto dealers were cautioned to be aware of the risk of the dealer going out of business before receiving title to the vehicle. It’s a lesson Credit Union Direct Lending has learned as it’s spent much of the past year hammering out a parntership with Manheim Auto Financial Services, which has been piloting just such a program in North Carolina.

EUGENE, Ore. - Oregon Community Credit Union is readying to be a part of the launch of a new initiative designed to mitigate the risk in booking auto loans with independent car dealers.

The “tables have turned” against banks and finance companies and in favor of credit unions, meaning CUs stand to benefit in the form of improved auto lending, according to an industry insider.

TUKWILA, Wash. - Looking for ways to leverage the opportunities left in the wake of the mortgage mess? A mortgage CUSO is gearing up to share 18 strategies to do just that.

MADISON, Wis. - As loan growth slows in the coming years, mortgages and other loan products that are more insulated from economic downturn should be the focus of credit union lending, advises CUNA’s 2008/2009 Credit Union Environmental Scan (E-Scan).

PORTLAND, Ore. - The commercial lending market remains strong and growing for credit unions, with banks helping to send business CUs’ way, according to the leaders of four CUSOs.

WASHINGTON - While other mortgage lenders are shutting down, credit unions are rolling out the welcome mat, with mortgage originations skyrocketing 53% in the first quarter of 2008 compared to the same time last year, according to Callahan & Associates.