Page 16 - Membership Guide
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business lending had tripled between year- real estate (CRE)
end 2004 and year-end 2014
•The 86 Colorado-headquartered credit Credit unions play by their own rules – and
unions’ assets nearly tripled in the two their regulator supports them ignoring
decades from 1994 to 2014 Federal law
•CU regulators too often act as advocates for
Colorado’s credit unions are not focused on tax exemptions and special treatment
low-income borrowers. •Colorado’s largest credit unions cannot
prove to be Community Reinvestment Act
•92 percent of credit unions made no compliant
mortgage loans to low-income Colorado •NCUA was under Congressional scrutiny in
borrowers 2015 for lack of transparency
•Of all the 2013 Home Mortgage Disclosure •In February, NCUA ignored Congressional
Act-reported mortgages originated by limits and finalized looser MBL limits
credit unions in Colorado, 3.3% were made
to lower-income borrowers, 17% were made Colorado’s largest credit unions are like
to moderate-income borrowers, 41.9% were banks in nearly every way – they just don’t
made to middle-income borrowers, and 37.7% pay like them
were made to upper-income borrowers
•The wide-open fields of membership (FOM) •The customer products and services offered
as well as the highly-desirable upscale by Colorado credit unions are very similar
commercial locations of their main offices to those offered by Colorado’s banks. The
and of their branches, suggest the largest larger the credit union, the more likely it
Colorado credit unions have targeted is to offer many bank-like products and
communities of moderate-income to upper- services.
income residents as desired members •All 86 Colorado-headquartered credit unions
(customers) it would have an estimated tax obligation of
•The seven largest Colorado-headquartered up to $64 million.
credit unions did over 75% of the business
lending done by all credit unions in 2014.
Over 92% of those 2014 business loans made
by the largest credit unions were for owner
occupied or non-owner occupied commercial
QUESTIONS? PLEASE CONTACT US TODAY.
Colorado Bankers Association
One Sherman Place, 140 East 19th Avenue, Suite 400, Denver, CO 80203
P 303.825.1575 | info@coloradobankers.org
