NCUA’s new member business lending rule, effective Jan. 1, is one of the biggest changes to credit union business lending in decades. The agency received hundreds of comments from credit unions supporting the proposal and outlining how it would help them better serve their members.
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.
With privately insured credit unions that meet certain requirements eligible to join the FHLB program starting July 5, CUNA compliance staff has developed a final rule analysis with an overview of new requirements.