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Distinguished Speaker Line-up Set for Credit Union Congressional Caucus

September 4th, 2015 Comments off

natio_asoc_fed_credit_unio_nafcuThe National Association of Federal Credit Unions (NAFCU) Congressional Caucus is the association’s credit union lobbying event of the year, bringing hundreds of credit union representatives from all across the country to meet with lawmakers and earn about legislation that may affect them and their members.

The Congressional Caucus sponsors include Triad Financial Services, NAFCU Services Corporation, MasterCard, CUNA Mutual Group, FHLBank Atlanta and Geezeo, as cuinsight informs MHProNews.

Speakers for the event, set for Sept. 14-17, 2015 in Washington, include Sen. David Vitter, (D-LA), a member of the Senate Banking Committee and chairman of the Small Business and Entrepreneurship Committee; Rep. James Clyburn (D-SC), assistant democratic leader of the House; Rep. William Lacy Clay, (D-MO) a senior member of the House Financial Services Committee and the ranking member on the Financial Institutions and Consumer Credit Subcommittee; Rep. Krysten Sinema, (D-AZ), a member of the House Financial Services Committee and lead democratic co-sponsor of NAFCU-backed H.R. 2287, the “National Credit Union Administration Budget Transparency Act,” and National Credit Union Administration (NCUA) Director of the Office of Consumer Protection Gail Laster.

In addition speakers will also include Rep. Patrick McHenry, (R-NC), the U.S. House Chief Deputy Majority Whip and vice chairman of the House Financial Services Committee; and Maria Contreras-Sweet, administrator of the Small Business Administration. ##

(Image credit: National Association of Federal Credit Unions)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.matthew-silver-daily-business-news-mhpronews-com

LA Credit Unions looking at Manufactured Home Lending

August 22nd, 2011 Comments off

Terri J. Fowlkes, Director of Community Development Investments at the National NATFEDCUInsight reports that the economic downturn continues to challenge financial institutions nationwide, but credit unions in Louisiana can take advantage of the opportunities to expand mortgage lending. This is particularly true among low- and moderate-income populations, says Terri J. Fowlkes, Director of Community Development Investments at the National Federation of Community Development Credit Unions. “With interest rates holding steady at rock-bottom levels, credit unions need to diversify their portfolios by continuing to make mortgages and increase their operating income,” Fowlkes stated. “Responsible loans made to qualified members provide credit unions with a much better yield than they’ll get from most other investment vehicles, and helps members build wealth through home ownership.” Fowlkes acknowledged the difficulty many credit unions have in making loans where no secondary markets exist, particularly for non-traditional loans such as Individual Tax Payer Identification Number (ITIN) loans, manufactured housing loans, and coop loans. The Federation and the Louisiana Credit Union League are exploring ways to increase credit union mortgage lending through utilization of the Federation’s CDCU Mortgage Center Secondary Market. “The Federation is the only credit union organization offering secondary (alternative) capital to credit unions nationwide,” Fowlkes stated.

(Photo credit: NATFED)