Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
IKiplingersI Banks cherry pick CUs open vaults
WASHINGTON (2/18/09)--An article in an upcoming issue of Kiplinger's Personal Finance Magazine notes that credit unions have plenty of cash to lend and their rates beat banks' fees for loans. "While big banks continue to cherry-pick borrowers, credit unions are opening up their vaults," the article begins. "Thanks to conservative investing and lending policies that largely sidestepped the subprime-mortgage mess, credit unions have plenty of cash on hand. Plus, interest rates on most loans average at least one percentage point lower than at banks," it says. "Money for car loans, in particular, is flowing, as credit unions fill the void left by shuttered or frozen carmaker finance arms," writes associate editor Jessica L. Anderson. She outlines low rates, rebates from credit unions' Invest in America program, and refers readers to www.lovemycreditunion.org. The article also addresses home loans, and CUNA Mutual Group says the dollar volume of real estate loans jumped 11% last year. Bankrate.com's Greg McBride notes that although credit unions are more willing to lend, it's not because of lower underwriting standards. For the full article, in the April issue, use the link.
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
2 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
4 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
4 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
4 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
6 hours ago