The most severe category of home loan arrears, those 60 days or more past due, declined during the 12 months to January, Standard & Poor's said. Loans in arrears greater than 30 days underlying prime residential mortgage-backed securities increased by 14 basis points to 1.3 per cent in January from December, consistent with seasonal patterns. Sub-prime RMBS arrears increased by 23 bps to 5.3 per cent. Prime and subprime arrears are lower than they were during the same period a year earlier. Overall sub-prime arrears levels are at historically low levels, S&P said. Queensland's Warwick Credit Union has signed an agreement with Ultradata for the development of a new core banking system, an internet banking platform and a loan origination system. Warwick Credit Union has more than 10,000 members. It hopes to go live with the new system in the second half of the year.