Our cover story this month explains how used-car lending at credit unions is hot, while new-car lending certainly is not. We also look at some innovative strategies credit unions have come up with to pump up flat auto loan portfolios.
To turn around recession-related increases in repossessions, CUs have beefed up their loan-assessment processes, initiated faster action on collection procedures, and worked diligently to help members avoid repossessions.
It’s time to consider increasing CUs’ member business lending cap, Texas governor and presidential candidate Rick Perry told more than 250 credit union representatives at the Iowa Credit Union Convention.
Further CUNA analysis of the U.S. Department of Labor’s overtime rule found minor relief, but CUNA remains concerned about the increased burden on credit unions. Several CUNA-suggested changes were included in the final rule.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.