Credit unions fill void as big banks get tough on loans

02/13/2008 | Wall Street Journal, The

Credit unions are stepping up to fill a void left by traditional banks that are shying away from refinancing riskier home loans. The big banks have tightened lending standards because of losses suffered in the meltdown of the subprime-mortgage market. But credit unions weren't hit as hard and can afford to scoop up some of the big banks' lost business.

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