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Member Business Lending News

$1B TARP plan includes CDFI CUs

Submitted by user00 on February 3, 2010 |

The U.S. Department of the Treasury on Wednesday announced that it will set aside up to $1 billion in Troubled Asset Relief Program funds for use by Community Development Financial Institution credit unions and other financial institutions.

CUNA blankets Capitol Hill with MBL letters

Submitted by user00 on February 3, 2010 |

Responding to the Obama administration’s recent decision to funnel $30 billion of unspent Troubled Asset Relief Program (TARP) funds into smaller banks for business lending, CUNA President/CEO Dan Mica said that “there is no good public policy reason to deny credit unions greater capacity for making business loans to their members, while at the same time giving community banks a subsidy to do so.”

Rep. Michaud: CUs should make business loans

Submitted by user00 on February 3, 2010 |

Legislation that would enable credit unions to help the economy rebuild by offering member business loans received support from Rep. Mike Michaud (D-Maine) in an article in the Bangor Daily News Tuesday.

On-Site Coverage: TARP Funds Will Be Available to CDFI CUs at 2%

Submitted by user00 on February 3, 2010 |

Community Development Credit Unions that are have been certified as
community development financial institutions will be eligible to
receive capital in the form of subordinated debt at an interest rate of
2% for eight  years, Obama Administration officials explained today.

Columbia CU Hires Bank Vet to Aid Commercial Lending - Credit Union Times

Submitted by user00 on January 18, 2010 |

Columbia CU Hires Bank Vet to Aid Commercial LendingCredit Union TimesOkazaki is the new vice president of business lending at Columbia CU in Vancouver, Wash. He will also be responsible for developing and maintaining business ...

Schumer, in Cortland, plugs bill to stimulate business lending from credit unions - Ithaca Journal

Submitted by user00 on January 14, 2010 |

Schumer, in Cortland, plugs bill to stimulate business lending from credit unionsIthaca Journal... and Schumer said he hopes the cap increase would encourage other credit unions to begin business lending. Speaking at the CFCU Community Credit Union, ...Read More

Michigan credit unions enjoying growth in members despite weak economy - Lansing State Journal

Submitted by user00 on January 11, 2010 |

Michigan credit unions enjoying growth in members despite weak economyLansing State JournalFor example, Lansing- based NuUnion Credit Union expanded by about 2000 members in the last 1-1/2 years, spokeswoman Danielle Brehmer said. ...and more »

Barney Frank angered by lack of bank loans - Cape Cod Times

Submitted by user00 on January 10, 2010 |

Barney Frank angered by lack of bank loansCape Cod Times... and with credit union not having to pay corporate income taxes. Read more about US Rep. Barney Frank frustration over the lack of small business lending ...Read More

Matz and Becker Praise Udall Business Lending Legislation - Credit Union Times

Submitted by user00 on December 22, 2009 |

Matz and Becker Praise Udall Business Lending LegislationCredit Union TimesNCUA Chairman Debbie Matz said the legislation introduced by Sen. Mark Udall (D-Colo.) that would raise the cap on member business lending ...Read More