News

ATLANTA-It's summertime and Georgia Federal Credit Union's platinum and classic VISA card portfolio is practically bursting at the seams. "The response to this simple promotion has just been phenomenal," said GFCU Vice President of Marketing Kim Wall. "We are very committed to our credit card portfolio, and really why would...

TAMPA, Fla. - Good marketing doesn't have to be salesy, it can be educational too. GTE Federal Credit Union has gotten a jump on taking its members and staff back to school for an education- credit union style. The $819 million credit union has a new five-year strategic plan that...

WASHINGTON - Credit unions are well-aware of the abuses and consequences of predatory lending on borrowers. Now, the North Carolina-based Coalition for Responsible Lending has quantified in a report the sobering ramifications of the lending abuse practice - predatory lending costs borrowers an estimated $9.1 billion annually. CRL Spokesman Martin...

TAMPA, Fla. - Don Charron, senior vice president responsible for mortgage and consumer lending for Suncoast Schools FCU has only one way to describe the $2.6 billion CU's mortgage operation post- vs. pre- implemention of Fiserv's easyLENDERT loan origination software - "It's like night and day," says Charron. After working...

Subprime lending has provided many consumers with blemished credit histories with the key that opens the door to home ownership. But has this practice also inadvertently fostered the rise of a group of homeowners who are dissatisfied and mistrustful of the mortgage process? Read about this and other mortgage-related news...

WASHINGTON - Credit unions would do better to keep an eye on developments with bankruptcy legislation currently in conference committee than economic conditions when trying to predict upswings in mortgage loan delinquency rates. The pattern of low charge-offs will be tied more to bankruptcy legislation than to economic cycles, says...

* 48% of homeowners who currently have a mortgage said they used a bank or a credit union to obtain their mortgage loan. Nearly half said they received their mortgage from other sources for mortgage financing. * Among those who use a bank or a credit union for their mortgage,...

WASHINGTON - The growth in subprime lending to credit-impaired borrowers has opened the door to home-ownership for many consumers that would have otherwise remained shut. But subprime lending to consumers with credit problems has also indirectly given rise to two mortgage processes in the U.S. - one that leaves borrowers...