Lending

PASADENA, Calif. - The best-kept secret in the mortgage market just may be the fact that credit unions offer them.

BROCKTON, Mass. - In the midst of the state's worst home foreclosure storm, HarborOne CU launched a project last week to help turn the area's low-income homeowners and immigrants away from predatory loans.

EL PASO, Texas - The El Paso Affordable Housing CUSO, a collaborative of eight area credit unions, and Wells Fargo will be providing affordable mortgages to low- and moderate-income families under a new program launched by local development organizations.

MADISON, Wis. - As part of CU Journal's special report on the state of home equity lending, UW CU VP-Lending Mike Long offered his insight into the current market.

SAN ANTONIO, Texas - Leon Ewing, CEO of Firstmark CU, is pleased to announce the launch of several new loans that are targeted at educators.

SAN DIEGO - USA Federal Credit Union became the latest CU to offer payday lending alternatives to its members-and the products garnered coverage on the local NBC affiliate.

LATHAM, N.Y. - Representatives from the New York State Credit Union League and Sunmark FCU appeared in support of a state Senate measure designed to help families on the verge of losing their homes to predatory lenders.

RANCHO CUCAMONGA, Calif. - Credit unions held on to an 18% share of the auto lending marketplace during 2006, with CU members paying lowest average monthly payments on new vehicles, according to a report from Credit Union Direct Corp. (CUDL).

AUSTIN, Texas - Some have called it the Holy Grail of indirect lending: getting members who joined at the auto dealer through an indirect loan to become full-fledged members who don't leave when the car payments are finished.

ELGIN, Ill. - Relying on the much-vaunted loyalty of credit union members, credit unions frequently take a softer approach to collections, but they may need to rethink that approach when it comes to members who signed up via an indirect lending program.

LAS VEGAS - Small Business Administration loans bulk up a credit union's bottom line, according to an executive with Mountain America Credit Union.

NEEDHAM, Mass. - Credit unions have relied on the fact that banks tended not to be interested in smaller business loans, but that is beginning to change, according to new research by TowerGroup.

ATLANTA - Although credit unions are lobbying Congress for a higher cap on member business lending, many remain relatively new to the market.

SSFCU Selects Prime Alliance

AUSTIN - While paying down a mortgage is a good way to save interest over time, a new study found greater savings when extra cash is placed in a tax-deferred retirement account.