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CU Companies reports earning cites correspondent lending

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NEW BRIGHTON, Minn. (2/1/12)--Citing strong growth in ancillary services such as correspondent lending, CU Companies, a New Brighton, Minn.-based credit union service organization (CUSO), is reporting strong year-to-date earnings in the first five months of its fiscal year.

"We've always had the mindset of looking for ways to build economies of scale," said Brad Crandall, CU Companies CEO. "As a CUSO, that initially meant having multiple organizations come together to provide one service for all. Today that also means providing additional services that leverage our mortgage expertise."

Crandall credited the CU Companies' new secondary market solution, Correspondent Lending, for helping the organization create those economies of scale.

"We've been doing retail mortgage lending for nearly 25 years," he said. "We saw adding this new way of funding mortgages as a means to better manage the ebbs and flows of the industry while providing a solution for a growing need."

CUNA announces 2012 Reg Compliance SchoolseSchools

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MADISON, Wis. (2/1/12)--The Credit Union National Association's (CUNA) 2012 Regulatory Compliance Schools will take place April 22-27 in Orlando, Fla. and Sept. 16-21 in Anaheim, Calif.

E-schools will be held on several dates throughout 2012 beginning March 6 and ending Nov. 27.

The CUNA Regulatory Compliance Schools feature annual regulatory updates, general overviews and advanced sessions. They are designed to provide credit union professionals of all backgrounds and skill levels an understanding of the major regulations affecting credit unions and their regulatory duties.

Testing to earn the Credit Union Compliance Expert designation is available onsite at the live events.

CUNA Regulatory Compliance Schools will cover a number of 2012 hot regulatory topics, including:

  • General Operations Regulations
    • Privacy (Reg P); and
    • Children's Online Privacy Protection Act

  • Deposit Account Regulations
    • Transfer limits (Reg D); and
    • International remittances (Reg E).

  • NCUA Requirements & Guidance
    • Portfolio concentrations;
    • Diversity for minority credit unions; and
    • Risk management.

  • Mortgage Lending Regulations
    • Know Before You Owe Program;
    • Closed-end mortgage changes (Reg Z);
    • SAFE Act;
    • Troubled debt restructuring.

  • Consumer Lending Regulations
    • Open-end lending (Reg Z);
    • Lending to military personnel; and
    • Fair Credit Reporting Act.