WASHINGTON - The growth in subprime lending to credit-impaired borrowers has opened the door to home-ownership for many consumers that would have otherwise remained shut. But subprime lending to consumers with credit problems has also indirectly given rise to two mortgage processes in the U.S. - one that leaves borrowers...

WASHINGTON-Shortly after the stroke of midnight July 31, the House passed the Veterans Affairs, Housing and Urban Development and Independent Agencies Appropriations legislation. The bill passed by a vote of 336 to 89. Despite the lobbying efforts of CUNA and NAFCU, the bill set a cap on the Central Liquidity...

WASHINGTON-Last week, Speaker of the House Dennis Hastert (R-Ill.) appointed conferees to the bankruptcy reform legislation conference. According to credit union Hill lobbyists, none of the conferees named were a surprise. NAFCU Senior Lobbyist Murray Chanow said he is only surprised that the House did not name more than 19...

ST.PETERSBURG, Fla. - For credit unions, there's a new but familiar player in the credit card portfolio sales game - Payment Systems for Credit Unions, Inc. Responding to major issuers targeting credit union credit card portfolios, PSCU is providing CUs a turnkey alternative- the PSCU Portfolio Management Solution. From evaluation...

ARLINGTON, Va. - NAFCU President/CEO Fred Becker agrees 100% with a recent USA Today story that recommended consumers check out credit unions for great rates on CDs - but there's even more consumers should be doing with CUs, says Becker. In a letter published in the July 26 edition of...

SYDNEY, Australia - What does a league do when the relationship between them and their members is borderline warfare? That's what Steve Laue had to face when he signed on as CEO of the Credit Union Services Corporation Australia (CUSCAL). When Laue walked through the door in June 2000 to...

SIOUX FALLS, S.D. - Size isn't everything. The nation's second smallest corporate credit union is proving that. Starting in early 2002, the $100 million CorpStar FCU will become the first corporate CU in the nation to begin offering core data processing services to natural-person CUs, bringing the ever-evolving corporate CU...

It may come as a surprise to those of us who believe strongly in the not-for-profit, best-deal-around services that credit unions provide, that members will call their credit union for mortgage interest rates, then call 11 other financials and go with the one that promises them the best rate. Whatever...