NFCC: 80% Have Foreclosure Worries
SILVER SPRING, Md.?More than eight-in-10 of the more than 10,000 consumers who have taken the National Foundation for Credit Counseling?s (NFCC) during the first six months of 2008 have indicated concern over have their homes foreclosed upon.
The NFCC, which hosts a self-diagnostic tool at www.HousingHelpNow.org, said 81% of those who took its quiz fell into what it calls the ?red zone,? meaning immediate danger of foreclosure.
Other findings: 85% of respondents indicated they were concerned over being able to make their mortgage payments once their loan resets. Sixty percent admitted skipping some bill payments in order to make others; 70% said refinancing did not appear to be a viable option, and half said they had already been turned down for credit this year. The NFCC is offering counseling via a toll-free line.
NCUA Liquidates Meriden F.A. FCU
MERIDEN, Conn.?NCUA last week liquidated tiny Meriden F.A. FCU, founded in 1954 to serve members of the Franco-American Club. The CU had $337,000 in assets and 206 members.
League Promotes Voter Registration
RANCHO CUCAMONGA, Calif.?The California and Nevada league is backing a new voter registration campaign for members of credit unions in the two states.
Citing its own research showing that less than half of hose members show up at the polls and that just 44% are even registered, the league said it has found that those who are registered to vote are more willing to send their elected officials a support letter, or sign a postcard at their credit union encouraging the governor to sign a credit union supported bill.
The California/Nevada league effort is designed to take down barriers that members face in registering to vote, including navigating the Secretary of State?s website and fighting traffic to find the county Registrar of Voter?s Office. The league is making available to credit unions voter registration posters of various sizes to be displayed in the lobby or employee areas, and also assisting in getting the correct voter registration cards to accompany the poster.
Texas Gives FOM Parity to State CUs
AUSTIN, Texas?The state Credit Union Commission adopted a new parity provision that will allow the state regulator to approve any field of membership already approved by NCUA.
The commission also adopted clarifying criteria for adding a group to a multiple common bond CU. The commission also amended state regulations to eliminate requirements that certain credit union records be maintained in paper and to give individual credit unions the flexibility to decide which format is best for keeping records.