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Thursday, July 24, 2014
B of A and Other Banks Back Credit Union to Solve Payday Problem
Banks want to offer short-term consumer loans but regulatory constraints make it difficult. Credit unions are piling into this line of business. It all translates into a rare opportunity for traditional nemeses to cooperate.
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Mortgage applications rose last week led by an uptick in purchases even as 30-year interest rates climbed. more »
MANHATTAN BEACH, Calif. — Kinecta FCU has launched two small-dollar loans that test alternative underwriting guidelines to serve the underbanked. more »
MADISON, Wis. — Credit union lending continues to improve, with loan portfolios rising by 1.2% in May, the biggest monthly increase in nine years, according to CUNA's monthly sample of CUs. more »
Has the U.S. auto lending market become overheated? The answer depends on which parts you inspect after popping the hood. more »
Some CUs are seeing significant improvement in loan performance among their subprime auto loans by installing starter interrupters that prevent the vehicle from starting if the loan is delinquent. more »
LAS VEGAS — Credit Union Journal asked CU lending executives to talk about the "new normal" in auto lending, offering insight into the differences to be found in the market today compared to just a few years ago. more »
LAS VEGAS — The key to successful credit union auto lending programs is to "be there when the members are." more »
PRINCETON, N.J. — New car sales in the U.S. will finally return to pre-recession levels this year. But with that comeback — and corresponding hike in consumer and lender confidence — problems lurk on the horizon. more »
LAS VEGAS — The auto lending world is moving inexorably to a model that features mobile technology and is fueled by impatience. more »
MOUNTAIN VIEW, Calif. — At $6.8 billion in assets, First Technology FCU is the 10th largest credit union in the nation — and it enjoys the unique perspective of serving members in two of the hottest markets: Silicon Valley in Northern California and Lane County, Oregon. more »
WASHINGTON — Mountain America Credit Union agreed to pay $25,000 to settle allegations it discriminated against prospective mortgage applicants on maternity leave, the U.S. Department of Housing and Urban Development said Wednesday. more »
When a sweeping set of mortgage regulations took effect in January, many predicted a credit crunch. Millions of potential homeowners, particularly low-income borrowers, blacks and Hispanics, would be shut out of the mortgage market, unable to qualify for a home loan, industry representatives and others warned. more »
SCHAUMBERG, Ill. — Rising home values, increasing consumer confidence in their own financial situations and falling delinquencies all point to the possibility more credit unions will ease mortgage lending standards, say analysts and CU executives. more »

A look at credit union partners and what they will be offering at NAFCU's upcoming Annual Meeting & Convention in Las Vegas.
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Oct 20 - 22 | PayThink (formerly ATM, Debit & Prepaid Forum)

JW Marriott Desert Ridge
Phoenix, AZ
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Oct 27 - 29 | Financial Services Collections & Operational Risk Conference

The Cosmopolitan
Las Vegas, NV
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Great White Northern Rebrand
Take a look at this spot highlighting Fairbanks, Alaska-based Northern Schools FCU's rebrand as Spirit of Alaska CU.
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