WASHINGTON—The Treasury Department said it plans to begin forgiving loans granted to small-business owners under the Paycheck Protection Program later this week or early next week, following complaints from both financial institutions and borrowers that the process has become bogged down.
SHELTON, Wash.–Peninsula Credit Union has been awarded a $900,000 grant from the Treasury Department’s CDFI fund that it plans to use on an affordable workforce housing initiative.
WASHINGTON–Treasury Secretary Steven Mnuchin told the Senate Banking Committee last week that he would contact the Small Business Administration on the same day he was testifying over how it might streamline the forgiveness process for Paycheck Protection program loans.
WASHINGTON—The Government Accountability Office (GAO) has released a report on the Federal Government’s COVID-19 response, including a review of the Paycheck Protection Program, offering new findings and suggesting “uncertainties” remain for many lenders.
MADISON, Wis.–We Own It, a nonprofit organization that says it was founded in part to bring member-owners back into their democratically-owned cooperatives, said it has sent a letter to more than 1,000 credit unions asking that excess capital be used to make emergency loans to help keep people in their homes.
ALEXANDRIA, Va.– Year-over-year median asset growth for credit unions as of June 30 was 10%, with Vermont and Nevada leading the way, while overall membership actually declined 0.3%, with 70% of CUs under $50 million in assets losing members, according to new data from NCUA.
BRAINTREE, Mass.– Liberty Bay Credit Union has rolled out a new website.
BRAINTREE, Mass.– Liberty Bay Credit Union has rolled out a new website.
NEW YORK–The second quarter of 2020 was the mortgage market’s best quarter in years, despite the economic slowdown, according to newly released data.
TUSCALOOSA, Ala.–Alabama One Credit Union has announced plans to buy the $82-million First Bank of Linden.
