LOS ANGELES—An old-fashioned, one-SEG credit union is reporting that despite the perceived limitations, it has found ways to grow and make loans.
THE boost
LOS ANGELES, Calif.—Every credit union knows it has members who use—and reuse—payday lenders. Supposedly taking the high road by not offering alternative products isn’t helping those members, or the credit union for that matter, says one CEO.
ST. PAUL, Minn.—Looking to improve on the “Pay It Forward” concept often used by credit unions, Affinity Plus FCU has introduced “Plus It Forward.”
LATHRUP VILLAGE, Mich.—Michigan First CU is investing about $2.5 million to dramatically alter the purpose of its internal call center in order to change the way consumers look at banking in this region.
BIRMINGHAM, Ala.—To help members obtain credit and rebuild FICOs post-recession, Alabama Telco CU has introduced a secured Visa card.
ATLANTA—Credit unions in several states are expanding into programs to help small business clients increase cash flow and to grow their operations.
JACKSON, Mich.—Michigan Community CU is covering mortgage down payment costs for certain first-time homebuyers, up to $10,000 per borrower.
RAPID CITY, S.D.—Loans for green buildings certainly help the environment—but do they always help the credit union? One expert contends that lenders, amid the growing interest in green, sometimes overlook the math when it comes to making a good loan on a new green building or enhancements to an existing office.