Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Need a loan Texas newspaper suggests CUs
SAN ANTONIO, Texas (3/30/09)--Scott Metzger, who owns a brewing company in San Antonio, Texas, turned to his local credit union for help when his bank loan fell through. Security Service FCU, San Antonio, provided Metzger with a $550,000 small business loan and a $200,000 bridge loan (Express-News March 27). Nick Naik, a hotel developer in the San Antonio area, also turned to the $5-billion-asset Security Service to refinance a $9 million loan for his hotel. His credit union experience was “excellent,” simple and straightforward. Both businessmen were interviewed by the Express-News for an article titled, “Need a Loan? Try a Credit Union,” which noted that credit unions continue to lend money despite tough economic times. Randolph-Brooks FCU, Universal City, Texas, also told the newspaper it provided funds for 215 real estate transactions in February. Credit unions can make loans because they didn’t use the lending formulas that many banks used--which left them with toxic assets, said Robert Zearfoss, Randolph-Brooks senior vice president of mortgage lending. Randolph-Brooks has $3.1 billion in assets. Credit unions are “flush with cash,” Texas Credit Union League CEO Dick Ensweiler told the Express-News. Credit unions are safe lenders and do not make risky loans, he added.
Other Resources

RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
9 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
10 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
10 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
10 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
11 hours ago