Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Blaine discusses SECU decision on risk-based lending
WASHINGTON (4/19/10)--State Employees’ CU of North Carolina (SECU) President/CEO Jim Blaine recently discussed SECU’s decision not to rely on risk-based lending, opting instead to consider each loan request on a case-by-case basis. “A credit score can tell you 10% will default, but not who will default. The reverse--90%-- will do exactly what they say they’ll do and pay their loans on time,” he said. “We look for the 90%.” The $19.6 billion credit union, based in Raleigh, N.C., is one of many credit unions increasing its loan portfolio and growing loans faster than the national average, said Callahan & Associates, a Washington, D.C.-based firm specializing in financial publications, software development, strategic planning and investment management for credit unions. At a time when banks saw their largest drop in lending since World War II, credit unions provided a record-breaking $271 billion in new and refinanced loans during 2009, a 7% increase over 2008, according to Credit Union Strategy and Performance (CUSP). Blaine’s message was captured in a new video component of the quarterly publication, CUSP, by Callahan & Associates. “Credit unions’ most important role is to make loans to members, and their cooperative system lets them do it very well,” says Alix Patterson, Callahan’s chief operating officer. “In fact, for the past 64 out of 65 years, credit unions have increased their loan portfolios.”
Other Resources

RSS print
News Now LiveWire
30+ states allow #creditunions to act as public depositories, another Northeastern state may soon follow suit #CUNA http://t.co/EV1dB3phTH
1 hours ago
New #databreach at Michaels & associated business Aaron Brothers may have impacted 2.6m cardholders http://t.co/jYeFs8okao
1 hours ago
#creditunion-community ties stressed during public funds depository testimony by @MassLeague See #NewsNow http://t.co/K7OrwuvhxM
2 hours ago
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
11 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
19 hours ago