2011 Credit Union Checking Study
Fountain pen and calculator
checking
5 new services credit unions are offering

Businesses have loan opportunities
Next
5 of 7
Back
text

In September, the Credit Union National Association released its Mid-Year 2010 Summary of Credit Union Operating Results, showing 29.5 percent of U.S. credit unions offered member business loans, up from 23.2 percent in 2006.

Credit unions would like to see even more growth in business lending, but they are confronting regulatory restrictions that limit the amount of business loans they make to 12.25 percent of their assets. Industry trade groups had hoped to raise the cap to 27.5 percent through an attachment to the small business stimulus package that recently became law, but the amendment failed.

"There may be other avenues that we can pursue into the next year," says NAFCU spokesman Jay Morris. "We haven't given up on it. We now have the support of our regulator, the National Credit Union Administration, and ... the Treasury has signed on as well."


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement

Ask Dr. Don

Use bonds for school, avoid tax?

Dear Dr. Don, This is a bad news, good news situation that I'm asking about. I just received several Series EE and Series I savings bonds. I am the so-called payable-on-death beneficiary on the bonds. My mom, who purchased... Read more

advertisement
advertisement

Connect with us