Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CU real-estate loans to grow 12.1 CUNA tells Dow Jones
WASHINGTON (4/29/09)—Don't rule out credit unions for mortgage loans, Mike Schenk told Dow Jones Tuesday. Schenk is senior economist for the Credit Union National Association (CUNA). At a time when the economy is struggling and mortgage credit from some sources is all but dried up, Schenk noted that credit unions are expecting to increase their overall lending by 6% in 2009, compared to the previous year. He noted that real-estate lending by credit unions is expected to grow 12.1% compared to 2008, according to CUNA projections. Schenk explained that credit unions largely didn't make the kinds of risky subprime loans that have rocked the nation’s economy. And since they engaged in prudent lending practice, Schenk said credit unions are in a better position to lend. Schenk advised consumers to choose a mortgage wisely and to factor in all costs when comparing mortgages. He added the warning: If something seems too good to be true, it probably is. The CUNA economist made his remarks in an article spotlighting that it is becoming harder and more expensive for consumers to get mortgage loans.
Other Resources

RSS





print
News Now LiveWire
#creditunions celebrate #EarthDay2015 by being green aware with e-statements, hosting shred events, planting trees
11 hours ago
From @WSJ: 33% of companies say it took them more than 1 yr to discover a data breach. http://t.co/a0MxV68X6t http://t.co/lkglx6WvKs
15 hours ago
.@CAMCouncil taps into @MICreditUnions' career, tech training resources http://t.co/sotnfCUgIo
16 hours ago
#Inflation ticks up in March, still relatively flat #NewsNow #Market http://t.co/PyAvwdkJ4M
16 hours ago
#NewsNow Ill. league groups elect board, exec officers http://t.co/KAG8MtbGsv
17 hours ago