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#362645 - 05/23/05 06:09 PM NCRC Finally reviews Credit Unions against Banks
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
http://www.ncrc.org/policy/states/CU_Report_Final.pdf

Very interesting study. Turns out...shocker...CU's seem to be lagging behind in serving the LMI markets. Anyone shocked?
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Dawn Coursey VP/CRA Queen

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#362646 - 05/23/05 06:17 PM Re: NCRC Finally reviews Credit Unions against Ban
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Very interesting report!
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#362647 - 05/24/05 03:20 PM Re: NCRC Finally reviews Credit Unions against Ban
Anonymous
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Yes, but this never ending tit-for-tat also has:

http://www.cuna.org/download/051905_pr.pdf

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#362648 - 05/24/05 06:01 PM Re: NCRC Finally reviews Credit Unions against Ban
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Interesting anon, but the difference being, NCRC beats the hell out of banks on a regular basis They're an independant party, verses the ABA or CUNA, hence the interest in the report.
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#362649 - 05/24/05 08:20 PM Re: NCRC Finally reviews Credit Unions against Ban
Anonymous
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NCRC may be independent of financial institutions, but it certainly is not independent of the special interests it represents. It is certainly not an unbiased, objective organization.

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#362650 - 05/24/05 09:36 PM Re: NCRC Finally reviews Credit Unions against Ban
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Oh no Don't get me wrong NCRC watches everyone equally, with a goal in mind, but they are not the ABA nor are they the CUNA. While they beat the hell out of banks on a regular basis, they are often pretty darned fair in their assessments. Sure they lean towards the "do more" theory, but they're not always wrong in asking that more be done.
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#362651 - 05/25/05 07:05 AM Re: NCRC Finally reviews Credit Unions against Ban
Anonymous
Unregistered

Forget the hype (Dawnie's and the NCRC's), read the data, and draw your own conclusions. The NCRC report and CUNA response certainly illustrate that two groups can look at the same statistics and come to opposite conclusions.

Another question to ask is whether home purchases, refinances, and home improvement loans are really a true indicator of service to LMI persons. Why does NCRC assume it is? Because that's the only hard data available. Maybe HMDA data is a good yardstick of service to LMI, maybe not. We shouldn't assume that it is simply because it's the only "impartial" data out there. What about car loans, education loans, low cost deposit accounts, financial education, . . .?

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#362652 - 05/25/05 05:22 PM Re: NCRC Finally reviews Credit Unions against Ban
HRH Dawnie Offline
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HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Unfortunately or not unfortunately depending on how badly people want to report, those types of loans and account activity are not reported by banks or CU's. The only indicator that can be used is HMDA data. To be fair, NCRC also did a very intense study on HMDA data from the top banks in the nation, and the results were somewhat scathing They really are equal opportunity thugs But, when reading that study, I had to agree, there were issues to be concerned with. It was a good bench mark to judge myself against to know how we stack up. Probably the best one out there.

There are more reports than can be named here discussing the value of homeownership to rise folks out of poverty. It's a clear indicator of a rise in financial stature, allowing for the accumulation of assets (or equity) in something tangible. I think that's yet another reason why HMDA data is used.
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#362653 - 06/01/05 03:59 PM Re: NCRC Finally reviews Credit Unions against Ban
Anonymous
Unregistered

Credit Unions need to be called into line. The only reason they still exist is that people in high places love their perks. If CUs were true to their original purpose, there may well be no HMDA reporting and CRA. It is human nature to take advantage of something. It has seemed their orginal purpose has become irrelevant with banks taking over that job.

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