Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
House members see CUs to the rescue column
WASHINGTON (2/14/08)—Credit Union National Association (CUNA) President/CEO Dan Mica Wednesday shared a little sunshine with House members on a cold, dank Washington day: a Dow Jones News Service column on how credit unions are helping their communities amid rising mortgage foreclosure rates. In an accompanying note to the lawmakers, Mica explained that the column shows “how credit unions are filling the gap created by other lenders who are dropping out in the wake of the subprime crisis.” “As the column’s author notes: ‘Credit unions to the rescue. Unlike big lenders, credit unions didn’t suffer heavy losses in recent months because they never made risky subprime loans,’” Mica pointed out. The Feb. 11 article also highlighted CUNA Chief Economist Bill Hampel’s assessment that most credit unions have strong balance sheets and near-record capital levels, which allow them to make any type of loan despite the subprime crisis. A version of the article also appeared on Wednesday on WSJ Online.
Other Resources

RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
3 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
4 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
4 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
5 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
7 hours ago