Lending

BREA, Calif. - The $990-million Evangelical Christian Credit Union (ECCU) here has a long history of making loans to churches across America to build new houses of worship, schools or to expand existing facilities. For the last 20 years, ECCU has also included among its strategic goals serving its members' needs in commercial real estate.

ALEXANDRIA, Va. - One tiny credit union has a big dream for its membership: home ownership.

FISHERS, Ind. - While FORUM Credit Union had successfully been in the subprime auto business since 2005, it nevertheless recognized that its operation needed to improve.

LATHAM, N.Y. - Sometimes the ultimate best practice is simply making the most of what you have. At CUC Mortgage Corporation, an affiliate of the New York State CU League, it has made a best practice out of using every single capability and enhancement it can eke out of its mortgage loan servicing system.

APPLETON, Wis. - Just one year after Community First Credit Union began promoting and actively managing its new credit card program, outstanding balances were up by 43%, as the CU achieved a 32% increase in purchases, and interest income gain of 23%. From March 2006 to March 2007, the CU boosted credit balances from $9.91 million to $14.16 million, and saw purchases rise from $2.21 million to $2.92 million. By the end of May 2007, outstandings topped $16 million for the first time.

CHARLOTTESVILLE, Va. - CUs were pitched as an effective way to address racial disparities in lending during a public forum here.

SAN FRANCISCO - The regulatory compliance required by mortgages-not to mention the volumes of paperwork - is enough to put off many potential lenders.

WASHINGTON - The U.S. Small Business Administration is rolling out several major reforms to make its loan programs more effective and its products easier to use.

WASHINGTON - The U.S. Small Business Administration posted record-breaking loan numbers again in FY 2007, setting new records for both the combined number and dollar volume of loans, and increased loans to small businesses in underserved areas by more than 5.5%.

HIGHLANDS RANCH, Colo. - Many financial institutions offer interest rate discounts on loans, but Red Rocks Credit Union developed a program that keeps the credit union fresh in its members' minds via an annual rebate check.

Over the last several years, CUNA Mutual Group has focused on plastic card fraud and the implications it has on the credit union marketplace. Below is a look at how one credit union, Alliant Credit Union in Chicago, took a serious, head-on approach to combating plastic card fraud for its organization and members.

NORTHRIDGE, Calif. - Even with some of the fires still burning out of control last week, Matadors Community Credit Union began offering a low-rate, no-fee Fire Relief Loan to victims of recent fires across Southern California. The Fire Relief Loan has a 12-month term, a 9.90$ APR and a maximum loan amount of $3,000. The credit union said that a 60-day deferment on payment is also being made available on the loan, which will be available through Nov. 30. CEO Dale Verderano said the loans can be used to pay for emergency expenses, including lodging, clothing and food. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

RICHMOND, Va. - Another investor seeking to unlock new value on Brink's Co. has launched a proxy contest to gain a foothold on the board of the venerable security service. MMI Investments LP, which holds an 8.4% stake in the company, has nominated four associates to the Brink's board.

MANCHESTER, N.H. -

CHARLOTTE, N.C. - Carolina Postal Credit Union has rolled out a loan program aimed at helping members finance a "Hoopty."

DURHAM, N.C. -

FAIRBORN, Ohio - Wright-Patt Credit Union and CMG Mortgage Insurance Co. have formed a partnership to create another method for veterans to achieve the American Dream.

SALT LAKE CITY - Member Business Lending LLC, the nation's biggest business loan CUSO, said last week it is teaming up with WesCorp FCU to buy member business loans from credit unions for eventual sale on the secondary market.