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The New Subprime? Credit Unions and Community Banks Look to Fill Lending Void 

Feb 13, 2008By

As subprime credit dries up amid the worst housing slump since the Depression-era, many troubled subprime borrowers are apparently finding help from two sources that were oft-overlooked during the recent housing run-up: credit unions and community banks. Via the Wall Street Journal, a return to more personal lending: Unlike big lenders, credit unions didn’t suffer heavy losses in recent months because they never made risky subprime loans.