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IRVINE, Calif. - Results of a recently completed nationwide study by Experian Consumer DirectT on the effects of mortgages on consumer credit scores show consumers with at least one open mortgage have an average Experian PLUS score of 716, compared to 667 for non-mortgage consumers. Experian Consumer Direct spokesperson Heather...

PASADENA and EL SEGUNDO, Calif. - Wescom Credit Union and Unocal Federal Credit Union have announced merger plans. As part of the deal the $115 million Unocal FCU will operate as its own division within Wescom CU and will continue to serve members under the Unocal brand. In addition, all...

In the 2004 Lending Strategies and Trends Research completed by CUNA Mutual Group in December 2003, credit unions with $50 million or more in assets were asked about their consumer and real estate lending programs. Here are some of the results concerning CUs' mortgage programs. Loan Volume Purchase Money versus...

WASHINGTON-Congressman Bernie Sanders (I-Vt.) told his colleagues in the House recently that credit unions are "one of the most vital, one of the most democratic, institutions in America." In a speech on the House floor May 17, Sanders explained, "Credit unions are cooperatively owned by those who deposit money in...

"We realize the low-hanging fruit (are) probably gone." - Jim Salmon, business lending special assistant, who is overseeing Navy Federal FCU's new Navy Federal Small Business Services division, acknowledging its late entry into member business lending. "This is just another example of the hypocrisy on the part of the bankers...

ALEXANDRIA, Va.-NCUA recently launched its new Express e-mail service, which will allow credit unions to obtain information from the agency faster and direct it to the right people. "Express was designed to be a resourceful tool for expediting information and will enhance the agency's communications with credit unions," NCUA Chairman...

How are CUs dealing with the changing mortgage rate and lending environment? Turn to pages 20-24 to learn how and read other CU-related mortgage news.

WASHINGTON - Despite record-low mortgage rates and an overall rise in the U.S. homeownership rate, findings from a recently released study show homeownership rates for low- and moderate-income working families have declined since the late 1970s. The paper, "Working Families with Children: A Closer Look at Homeownership Trends, May 2004"...