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DENVER/SEATAC, Wash.–The Mountain West Credit Union Association—which represents credit unions in Arizona, Colorado and Wyoming—and the Northwest Credit Union Association—which represents credit unions in Oregon, Washington and Idaho—have signed a letter of intent with plans to merge.

WASHINGTON—During the fourth quarter of 2021 the nation’s banks reported they eased standards and terms on commercial and industrial (C&I) loans to borrowers of all sizes, while a “significant net shares of banks expected a deterioration in the quality of credit card loans to prime and nonprime borrowers and of auto loans to nonprime borrowers; according to the Federal Reserve’s just-released January senior loan officer opinion survey (SLOOS).

ST. PAUL, Minn.–The Minnesota Credit Union Foundation said it has established a special fund to collect donations as part of an effort to raise $1 million in capital in support of launching and operating Village Financial Credit Union.

DETROIT––Not everyone agrees with those analysts who are forecasting used car values and demand for loans will continue to rise in 2021. In fact, Ally Financial said last week that it is embedding a potential 15% to 20% cumulative decline in used-auto values by the end of 2023 into its assumptions, the Wall Street Journal reported.

HARAHAN, La.–A federal judge has ruled the Treasury Department was right when it ordered OnPath FCU to repay more than $12 million in CDFI funds, finding Treasury’s request meets the criteria of the Administrative Procedure Act.