|July 21, 2014|
|House passes bill with $2M for CDRLF, $230M for CDFIF|
The House of Representatives passed the Financial Services and General
Government Appropriations Act (H.R. 5016) for fiscal year 2015
Wednesday, by a vote of 228-195.
The bill includes an increased amount of money for the Community
Development Revolving Loan Fund (CDRLF) from previous drafts, up to $2
million from $1.071 million. The National Credit Union Administration's
CDRLF provides grants and loans to low-income designated credit unions
for financial services and to stimulate economic activities in local
The bill contains $230 million for the Community Development Financial
Institutions (CDFI) Fund, a $4 million increase from last year. The fund
supports CDFIs by supporting business growth, job creation, and
low-income community revitalization.
According to the U.S. Treasury Department's CDFI report for fiscal year
2013, credit unions represent 177 of 811 CDFIs active at the end of last
Visit CUNA News Now for the full story.
|Home foreclosures fall to lowest level in eight years|
Foreclosure activity in the U.S dropped last month
to the lowest level since July 2006, before the housing bubble burst. It will likely continue to drop through the first half of next year an
industry group said last week.
RealtyTrac, which tracks housing market trends, said that 107,194
properties across the country were at some stage of the foreclosure
process in June. That marked a two percent decline from May and left
foreclosure activity, which includes foreclosure notices, scheduled
auctions, and bank repossessions, 16 percent below last year's level.
"Over the next six to nine months, nationwide foreclosure numbers should
start to flatline at consistently historically normal levels,"
RealtyTrac Vice President Daren Blomquist said in a statement.
Declining foreclosures have reduced the supply of properties on the
market, pushing home prices up. That, combined with higher mortgage
rates, has slowed the recovery of the U.S. housing market.
Lenders reclaimed a total of 26,889 properties in June, down five percent
from May and the lowest level since June 2007. Repossessions were down
24 percent from a year ago.
Lenders started the foreclosure process on 47,243 properties in June,
down 18 percent from a year ago, and the lowest level since November
Florida continued to have the nation's highest foreclosure rate, followed by Illinois, New Jersey, and Nevada.
Click here to read the full story at Daily Finance.
|#100MM campaign starts conversations between members, CUs|
The "100 Million Credit Union Memberships" project is inspiring credit union members to share how long they have been a member of their credit union and what makes their credit union special.
While many people cited decades of membership, a unique answer came from a member of $2.2 billion-asset Coastal FCU. Larry Apple tweeted that the passbook number on his original membership card is 59--a number that likely came from the first couple months of operations, the Raleigh, N.C., credit union responded in a Twitter conversation.
The #100MM hashtag is shorthand for the upcoming milestone of 100 million memberships at U.S. credit unions, captured by the America's Credit Unions website from the CUNA and the state credit union leagues.
Members can share submitted selfies with the hashtag #100MM on Google+, Facebook, Instagram, and Twitter.
To upload a video or photo, just visit the 100 million memberships website, complete the form, upload the image or video from your computer (or via social media), and submit.
|2014 hot topic webinar sale|
& Affiliates is currently offering a hot topic webinar sale. Check out
the hottest credit union special of the year - buy two hot topic webinars and
receive a third one for free. Plus, each archive includes an on-demand link and a free CD ROM.
Hurry - offer expires July 31!
Click here to learn more.
|LSCU & Affiliates Media|
2014 Southeast Credit Union Conference and Expo
The LSCU & Affiliates hosted the Southeast Credit Union Conference and Expo. The conference featured former Florida State Football Coach Bobby Bowden, National Credit Union Foundation Executive Director Gigi Hyland, CUNA Mutual Group CEO Bob Trunzo, and Filene Research Institute CEO Mark Meyer.
President's 2Q Video
The LSCU & Affiliates President/CEO Patrick La Pine provides an update from the second quarter and also looks ahead to the rest of the summer.
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