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.
CUNA is concerned with a report on consumer testing used by the CFPB to analyze periodic statement forms for consumers in bankruptcy, but concurs with some of its findings. The bureau issued a report in February on its study.
CUNA compliance staff has received a number of questions in recent weeks regarding Internal Revenue Service W-9 forms and taxpayer identification numbers. A recent CompBlog entry lists some of those frequently asked questions, along with answers.