By Lisa Broadwater, Manager of Consumer Lending Product Development, Eastman Credit Union
Since December, 50 firms have pulled out of writing federally-backed or private student loans. In April, giants Bank of America and Citicorp announced pullbacks – Bank of America said it would stop writing private student loans, and Citicorp’s said it would stop writing ones [...]
By Mike Werstuik
Many call today the best buyer’s market in decades. With interest rates reasonably low and prices down from the housing boom’s peak, the time to purchase a home is now…as long as you can get a loan. The Federal Reserve’s March Senior Loan Officer Opinion Survey reported that 60 percent of the institutions [...]
By Dane Coalson
United Federal Credit Union, 4 million, St. Joseph MI, started a complementary budget counseling service in 2003. Judy Baker initially started working with distressed members to help prevent bankruptcy filings. Due to its initial success, the program was expanded to include those who recently lost their jobs, requested budgeting assistance, or any member [...]
By Dane Coalson
State Employees’ Credit Union (SECU) of Raleigh, N.C., (.9 billion) introduced a Million Dollar Sweepstakes in 2007 to encourage member checking account holders to convert from paper statements to e-statements. The Sweepstakes was intended to educate members on the cost to their credit union each month to print and mail paper statements and [...]
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By Dane Coalson
Altura Credit Union (0 million) is located in Riverside, Calif., at the epicenter of the housing crisis. Despite the difficult economic environment, Altura grew in 2007 while maintaining a high level of service and reaching out to members in distress.
Addressing the Housing Crisis:
At the end of 1Q 2008, NCUA examiners wrote Altura: [...]
By Cathie Tierney, CEO of Community First CU in Appleton, Wisc
Community First CU of Appleton, Wisc., ( billion in assets, 77,000 members), a 13-county community charter credit union that is the third largest in the state, held a four-day loan sale beginning January 31. This was the day after the Federal Reserve unexpectedly dropped interest [...]
By John Hirabayashi, President & CEO of Community First CU of Florida
Community First CU of Florida began in the Depression as the credit union for teachers in Duval County. It now is the ninth largest credit union in Florida with .2 billion in assets and more than 100,000 members. It serves a number of counties [...]
By Mike Valentine, CEO, Baxter Credit Union
2007 turned out to be a challenging year for net income. A continuing margin squeeze coupled with a large increase in loan delinquencies and write-offs resulted in a strained ROA. We experienced increased losses across all of our products and geographies. We definitely see this trend as part of [...]
By Bridget Looby
In the Saginaw area, Catholic Federal displays a deep commitment to the communities and the Catholic flock.
Catholic FCU began in 1956 in the rectory of St. Mary’s Cathedral in Saginaw and then grew through new members and mergers. It expanded to encompass the 11 Michigan counties composing the Diocese of Saginaw. It [...]
By Bill Connors, CEO, Purdue Employees FCU
We are in the low portion of a normal cycle. Previous good planning should carry you through, but some points to remember: Don’t panic; keep diversified; emphasize service over yield; stick to your mission; and maintain strong contact with members
The media has its horror stories and some credit unions [...]
