Need a Loan? Think 'Union'

Trouble getting a loan? You're not alone. Consumer lending rates are down, despite the efforts of the Treasury Department to grease lending wheels.

But if you need a loan, consider skipping your local bank and checking out your neighborhood credit union.

Credit unions are still lending. In fact, Mike Schenk, vice president of economics and statistics at Credit Union National Association (CUNA), says that loan growth among credit unions is growing. He notes that loan growth during recessions in the '80s and '90s were around 3%. "We're more than double that today," he says. "There is still a lot of lending going on." ...