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CU System briefs (10/12/2011)
* MADISON, Wis. (10/13/11)--For first time, a credit union has been named Madison, Wis.'s Metropolitan statistical area's top home purchase financing lender, according to annual Federal Financial Institutions Examination Council (FFIEC) data. Madison-based UW CU, with assets more than $1 billion, was reported as advancing nearly $83 million for residential home purchases in 2010 in the area, which includes Dane, Sauk and Iowa counties. "This is the first time the federally published data has reported a credit union in top position" for the area, said Paul Kundert, president/CEO of UW CU. "Although home purchase volumes have been trending down, our home purchase mortgage lending market share has been on the rise and has more than doubled since 2005," he added. The credit union offers FHA, VA, WHEDA, My Community and Home Attainable loan programs to "help us provide the greatest possible access to affordable ownership," he said … * SPRINGFIELD, Ore. (10/13/11)--Springfield, Ore.-based Northwest Community CU has named John Iglesias as its new president/CEO. He succeeds Helen Byrnes, who recently retired. A former president/CEO at Salal CU, Seattle, Iglesias also has executive level experience with two of Washington State's largest credit unions--BECU and Washington State Employees CU. He also recently retired from the Navy Reserves as an intelligence officer. Northwest Community said Iglesias will build on the credit union's strong financial position to expand and improve services. The credit union, which served primarily wood products professionals, currently serves 15 counties between the Portland and Medford as well as between North Bend and Redmond. It has almost $700 million in assets … * HIGHTSTOWN, N.J. (10/13/11)--The New Jersey Credit Union League
New Jersey Radio Spot

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began airing a 60-second radio spot on a statewide radio station this week, encouraging listeners to urge members of Congress to raise credit unions' member business lending (MBL) cap. With today's challenging economy, New Jersey's small businesses need financial support. "Congress can help do something about that," and New Jersey's credit unions stand ready to help, the ad says. By raising the MBL cap, New Jersey credit unions would have $185 million freed up for small business loans and 2,000 jobs without costing taxpayers a dime. It pointed listeners to bankingyoucantrust.com for more information. The Credit Union National Association and credit unions have been pushing for Congress to raise the MBL cap to 27.5% from 12.25% to enable credit unions to assist the economy by offering more small business loans.


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