CU News Briefs – 4/8/08 (or stuff that didn’t earn a full blog)

Executive Summary:

• Whether you’ve never heard of or are merely unfamiliar with the idea of peer to peer (P2P) lending, its potential to reshape the financial landscape is real.  Here’s a brief overview of five of the most powerful online lenders. With the erosion of public confidence towards financial institutions thanks to subprime lending, expect P2P lending to exceed all short term expectations, leading to long term sustainability.

• Video (4 minutes): Federal Reserve Chairman Ben Bernanke has been cutting the fed rate faster than Jack Sprat working on a piece of fatty steak, but the 30 year fixed mortgage rate has not followed suit.  Without any fluff, Business Week takes a look at the why and at the current mortgage market.

Robbed:

• Premier FCU, Forest City, North Carolina, Monday. Two armed men entered the CU demanding money. The left with an undisclosed amount of cash, switching vehicles at least once during their getaway. No one was injured.
• CapCom CU, Walker, Michigan, Monday. A man wearing white bell bottom pants took an undisclosed amount of cash. No weapon was shown and no one was hurt.

Arrested, Arraigned, Charged, or Sentenced:

• A man has been charged with the March 31st robbery of Tennessee Valley CU. Brian Scott Terry has been charged with two counts of armed robbery and may face additional charges relating to additional bank thefts.
• Already charged with committing two armed robberies, Derrick Van Hodges and his half brother Paul Edward Thomas are now facing charges of robbing five additional financial institutions, including Kelly Tyler FCU of Tyler, Texas, on November 3, 2006.