This week CreditUnions.com slices one mortgage metric six ways, shows how to generate income through a FHLB arbitrage program, offers best practices for rising up Yelp's search algorithm, and more.
Here are five can’t-miss data points for the week:
The number of mortgage originations by credit unions increased 15.4% year-over-year, according to recently released HMDA data. And although credit union origination market share dropped 14 basis points from the year prior, in human impact, those originations represent 758,762 new mortgage loans funded by the cooperative industry.
Read more in "1 Mortgage Metric Sliced 6 Ways (Part 1)."
Kane County Teachers Credit Union makes approximately $12,000 a month through a Federal Home Loan Bank arbitrage program created to manage liquidity and risk that also lets participants generate income. How? KCT borrows about $70 million at a time from the FHLB, typically overnight, puts the cash in a Fed account and makes a bit of cash each time from the spread.
Learn more about the strategy in "How To Turn $70 Million A Night Into $12,000 A Month."