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  1. // Loans & Credit

    NCUF & Federation Report: Helping Members Avoid Foreclosures

    According to the Mortgage Bankers Association every American will be affected some way by the foreclosure crisis currently gripping the country. Those already affected and those most likely to be affected are those who took out sub-prime loans. However, as the economic crisis worsens and unemployment increases, some of those in prime mortgages are candidates for possible foreclosure in the near future. Renters are not immune from the crisis as they can also find themselves evicted from properties as owners face foreclosure.

    Read our report on how credit unions are helping Members avoid Foreclosure. Download the entire report here

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  2. // REAL CU Voices

    Introducing: REAL CU Voices

    The current economic conditions have created anxiety on both a local and national level. Many are comparing the current market conditions to the Great Depression. Rapidly increasing unemployment, the down turn in financial markets make many credit union and community leaders think that it is time to hunker down and not aggressively seek growth in assets or membership.

    A couple of weeks ago (and one blog post down) when we asked credit unions which strategy they’d persue, 41% of the respondents believed that credit unions should hunker down and focus inwardly.

    However, 59% think this is a perfect time to capitalize on positive media attention and the increasing awareness and trust that consumers have in credit unions. These leaders are aggressively growing by targeting emerging markets and increasing product offerings to grow membership and assets.

    In the comments, Susan Fisher from Tongass FCU explains...

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  3. // Emerging Markets

    One Question Survey: Focus In or Focus Out?

    The current economic environment has had major impact on American families and the credit unions that serve them. Each quarter 250,000 families are losing their homes to foreclosure. Countless others have voluntarily surrendered collateral in an attempt to save their homes. Unemployment is high many areas also causing rising delinquency within credit unions.

    On another note, the failure of more than one major banking institution has consumers looking for a safer alternative. Many are turning to credit unions as a place they can trust.

    Given this, we want to ask you:

    Why is this true for your shop? We’d love to hear from you in the comments.

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  4. // Loans & Credit

    Podcast: How to Steer Clear of Predatory Car Loans

    88% of Americans drive to work. Access to affordable and reliable used cars is a real need for low-wealth families trying to get ahead. Non-prime (thin file or low score) borrowers often turn to high cost loan providers such as buy-here pay-here stores to purchase cars. Oftentimes, these cars are of poor quality and cost far more than their book value.

    Credit unions should lend to more non-prime borrowers because…

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  5. // Social Impact

    The Future for Cooperatives is Now

    On Monday, April 6, an advertorial appeared in the New York Times titled “Power to the People: Cooperatives Spread the Benefits.” The feature goes a long way in making the case (domestically and internationally) for the cooperative business model. Further, it shines a bright light on the future of cooperatives and the power of cooperatives to change lives.

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  6. // League Highlights

    Ohio Credit Union League – Ohio Credit Unions Helping Ohioans in a Tough Economy

    Ohio’s credit unions are celebrating 75 years of service this year. And the mission — of providing individuals, families, and entire communities with economic stability through the dignity of financial empowerment — remains the same as it was when credit unions were founded. This philosophy distinguishes Ohio’s 414 credit unions from other financial service providers and inspires loyalty from more than 2.6 million members.

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  7. // League Highlights

    Illinois Credit Union League – Building a REAL Solutions Website

    “Our REAL Solutions credit unions continually comment to us that all the information they receive at our partner meetings and webinars is invaluable in evaluating and implementing programs to serve the low wealth community. In addition, they thoroughly enjoy meeting new people from around the state. The networking opportunities have helped establish new friendships and a tremendous support group.”

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  8. // Payday Lending

    New Tool Available for Developing a Payday Loan Alternative

    Do your members use payday lenders? If you think not, odds are you are wrong. Somewhere between 10% and 20% of credit union members opt to do at least some of their business with payday lenders. Why?

    Perhaps it’s the fear of being turned down, knowing they may have credit issues. Perhaps your hours and location aren’t convenient when members need a loan. But more likely, it’s because you don’t have the right product—a small-dollar-value, short-term cash loan that can be accessed quickly and conveniently.

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  9. // Loans & Credit

    Changing the Conditions

    While at the GAC, we asked credit unions, “How are you helping people through this broken economy?”

    The first answer came from Bucky Sebastian, CEO of Tampa, Florida’s $2 billion GTE Federal Credit Union. GTE FCU is going above and beyond the call to help members avoid foreclosures and stay in homes that they own.

    Here’s how:

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  10. // Social Impact

    Social Impact Matters

    When the dust clears from our economic calamity, what will we learn? What business models will emerge from the carnage inflicted by greed, lack of oversight, and profit maximization driven by Wall Street? According to Strategy & Business Magazine, the cooperative business model is being re-examined and gaining prominence as a viable alternative.

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  11. // Community Development

    The Community Development Financial Institution Golden Era

    Community Development Financial Institutions (let’s call them CDFIs) were created to provide financial services like checking, savings, and loans to people who might otherwise go overlooked.

    » Click through to learn why we’re in the ‘golden era’ for CDFI funding.

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  12. // Events

    Questions & Conversation at the 2009 GAC

    CUNA’s Governmental Affairs Conference is in full effect and, given the times, promises to be one of the most interesting yet.
    » Click here to see what we’re up to.

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  13. // Relief

    Looking for credit unions involved in Gulf Coast Aid

    I ran across this call for help, posted by Phillip Bush – Fellow at Enterprise Community Partners – on the Community Development Banking listserve this morning…
    » Click through to read the email

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  14. // Emerging Markets

    Capturing the Immigrant Market

    Immigrants come to the United States for many reasons, most seeking a chance for a better life for their families and children. This past century of credit union service to the nation parallels an era of immigrant growth that continues today.

    While membership growth and market share are slowing, serving immigrant populations answers both philosophical and business needs for credit unions.

    Click through to read more and access our free whitepaper.

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  15. // Podcasts

    Podcast: NCUF talks to Net Impact on Sustainable Consumer Finance: Issues in America Today

    Low-income Americans pay as much as $11 billion in fees every year to unregulated, for-profit financial services companies.

    Listen to this Issues in Depth Call with Steve Delfin and Lois Kitsch to learn how responsible financial institutions are fighting back and lightening the load for American families.

    Watch the gray bar as the podcast loads. Once loaded, click the pink button to play.

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