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

Washington
House members see CUs to the rescue column
WASHINGTON (2/14/08)—Credit Union National Association (CUNA) President/CEO Dan Mica Wednesday shared a little sunshine with House members on a cold, dank Washington day: a Dow Jones News Service column on how credit unions are helping their communities amid rising mortgage foreclosure rates. In an accompanying note to the lawmakers, Mica explained that the column shows “how credit unions are filling the gap created by other lenders who are dropping out in the wake of the subprime crisis.” “As the column’s author notes: ‘Credit unions to the rescue. Unlike big lenders, credit unions didn’t suffer heavy losses in recent months because they never made risky subprime loans,’” Mica pointed out. The Feb. 11 article also highlighted CUNA Chief Economist Bill Hampel’s assessment that most credit unions have strong balance sheets and near-record capital levels, which allow them to make any type of loan despite the subprime crisis. A version of the article also appeared on Wednesday on WSJ Online.
Other Resources

RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
3 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
23 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 hour ago