UP TO THE CHALLENGE
Natural person credit unions have been tapped to stabilize the corporate system, but Michigan credit unions continue to grow and lend as they cope with an uncertain situation.
The past year put credit unions in an enviable position. As numerous lenders suffered major, high-profile losses from the bursting of the housing bubble and sudden spike in toxic mortgages, credit unions remained strong and secure. It made for excellent PR for the credit union industry, and although the economic problems were by no means helpful, credit unions could say that by their very nature they were able to avoid the troubles befalling many other institutions.
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Getting the Economy on the Right Track
Under The Dome
Looking Ahead to a Challenging Year for Credit Unions