Alt-A

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

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.