Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU CEO tells Sacramento what to expect in 2008
SACRAMENTO (1/9/08)--Lenders should be doing everything they can to help their borrowers in today’s economy, a California credit union CEO recently told the Sacramento Bee. Carol Hauck, president/CEO of First U.S. Community CU in Sacramento, said that traditional solutions may not be enough to ward off foreclosures amidst the real estate slowdown. Hauck was interviewed for a Jan. 6 article about what consumers can expect in 2008. Hauck was interviewed for the financial institutions section. Housing values continue to drop, which makes financing challenging for financial institutions, she told the newspaper. Foreclosures and losses will mount, and there may not be enough capital available for new financing. Refinancing to pay other debts has slowed because many borrowers do not have enough equity. Homeowners who financed at the top of the market may also owe more than the value of their homes, she noted. To solve these problems, traditional solutions may not be enough and new ideas are needed to help both borrowers and their financial institutions, Hauck said.
Other Resources

RSS print
News Now LiveWire
@AdamMertzCUNA @CUNACraig @AnnHPeterson @CUEscan @cumagazine
5 hours ago
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
15 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
16 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
16 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
16 hours ago